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Top 10 Most Developed Countries In The World 2024
Do you know which is the most developed country in the world 2024? Here we have compiled a list of the top 10 most Developed Countries in the World. A developed country is a sovereign state with a high quality of life, developed economy and advanced technological infrastructure relative to other less industrialized countries.
Typically, the criteria for evaluating the degree of economic development are gross domestic product GDP, gross national product GNP, per capita income, level of industrialization, amount of extensive infrastructure, and general standard of living.
Along with the Human Development Index score, the most developed countries in the world also have a higher GDP per capita. Ireland and Switzerland have a same score of 0.955 in this list and Australia and the Netherlands also have the common score.
10. Denmark – 0.940 HDI
Denmark is the tenth most developed country in the world by 2024. Also, it is one of the richest countries in the world. Denmark is a Nordic country in Northern Europe. European Denmark is the southernmost of the Scandinavian Countries. Copenhagen is the capital of the country and one of the most expensive cities in the world.
The Danish capital is especially pricier for anyone wanting to do some retail therapy. In addition, Denmark has a developed mixed economy classified as a high-income economy by the World Bank.
Denmark is the 8th most expensive country to live in. The overall cost of living index in Denmark is generally steep, and misses out on ranking among the top 5 most expensive countries to live in.
- Human Development Index Score: 0.940
- GDP: $ 396.6 billion
- Population: 5.82 million
- GDP per Capita: $67,920
09. Australia – 0.944 HDI
Australia is the ninth among the top 10 most developed countries in the world. Along with the Netherlands, it also has an HDI score of 0.944. It is a sovereign transcontinental country consisting of the mainland of the Australian continent, the island of Tasmania, and several smaller islands.
With an area of 7,617,930 square kilometers, Australia is the largest country by area in Oceania and the sixth largest country in the world. In addition, Australia is a highly developed country with a market economy. There is a high GDP per capita and a relatively low rate of poverty.
In 2022, Australia was the 13th largest national economy by nominal GDP, the 18th largest by PPP-adjusted GDP, and the 25th largest goods exporter and 20th largest goods importer. Australia recorded the longest uninterrupted GDP growth in the developed world with the March 2017 fiscal quarter. As of 2021, the country’s GDP was estimated at $1.61 trillion.
- Human Development Index Score: 0.944
- GDP: $ 1.61 trillion
- Population: 26.02 million
- GDP per Capita: $62,619
08. Netherlands – 0.944 HDI
Netherlands is the 8th most developed country in the world 2024, with a HDI score 0.944. It is a country located in Western Europe with territories in the Caribbean. It is the largest of the four constituent countries of the Kingdom of the Netherlands.
The official language of the country is Dutch, with West Frisian as a secondary official language in the province of Friesland. It has English and Papiamento as secondary official languages in the Caribbean Netherlands. In addition, the Netherlands is a developed economy and has been playing a special role in the European economy for many centuries.
As of 2020, the major trading partners of the Netherlands were Germany, Belgium, the United Kingdom, the United States, France, Italy, China, and Russia. The Netherlands is one of the top 10 exporting countries in the world. Foodstuffs make up the largest industrial sector. As well, other major industries include chemicals, metallurgy, machinery, electrical goods, trade, services, and tourism.
- Human Development Index Score: 0.944
- GDP: $1 trillion
- Population: 17.2 million
- GDP per Capita: $57,715
07. Sweden – 0.945 HDI
Sweden ranked 7th among the top 10 most developed countries in the world 2024. It has consistently been on the list of the cleanest countries in the world for many years. Sweden is a Nordic country of northern Europe. It is on the border of Finland in the west and north in Norway.
Also, Sweden is the largest country in Northern Europe, with an area of 450,295 square kilometers, the third largest country in the European Union, and is the fifth largest country in Europe.
Sweden’s capital and the largest city is Stockholm. The total population of the country is 10.4 million, in which 87% of swades are in urban areas, which cover 1.5% of the whole land area. The highest concentration is in the middle and southern part of the country.
In addition, according to GDP per capita, Sweden is the sixth richest country in the world and its citizens have experienced high quality. Sweden is one of the most beautiful places on earth.
- Human Development Index Score: 0.945
- GDP: $622.3 billion
- Population: 10.2 million
- GDP per Capita: $58,639
06. Germany – 0.947 HDI
Germany is the sixth most developed country in the world 2024, with a HDI score 0.947. Germany’s economy is a highly developed social market economy. It has the largest national economy in Europe. Also, it is the fourth largest economy in the world by nominal GDP and the fifth largest by purchasing power parity (PPP).
Moreover, according to the International Monetary Fund (IMF) in 2017, the country accounted for 28% of the euro area economy. Germany is a founding member of the European Union and the Eurozone. Also, it is one of the largest exporters globally with goods and services worth $ 1810.93 billion exported in 2019.
- Human Development Index Score: 0.947
- GDP: $4.23 trillion
- Population: 84.25 million
- GDP per Capita: $50,788
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05. Hong Kong – 0.949 HDI
Hong Kong ranked fifth among the top 10 most developed countries in the world 2024, with very high HDI 0.949. It is a city and special administrative region of China on the eastern Pearl River Delta in southern China. It was ranked as the most expensive city to live and work in in 2020.
With over 7.5 million residents of various nationalities in an area of 1,104 square kilometers (426 sq mi), Hong Kong is one of the most densely populated places in the world. In addition, Hong Kong has the fifth largest number of billionaires in the world. Also, Hong Kong is one of the most developed cities in the world with the most expensive housing.
Hong Kong is a highly developed city and ranks fourth in the United Nations Human Development Index. The city has the highest number of skyscrapers of any city in the world. The life expectancies of its residents are among the highest in the world.
- Human Development Index Score: 0.949
- GDP: $369.7 billion
- Population: 7.60 million
- GDP per Capita: $49,485
04. Iceland – 0.949 HDI
Iceland is the fourth developed country in the world, with a HDI score 0.949. It is a Nordic island country in the North Atlantic Ocean and the least populated country in Europe. Its capital and largest city is Reykjavik. More than two-thirds of the population lives in Reykjavik and surrounding areas in the south-west of the country.
In addition, Iceland is the only part of the Mid-Atlantic Ridge that rises above sea level, and its central volcanic plateau is erupting almost continuously. Also, its high latitude and oceanic influence keep the summers cool, and most of its islands have a polar climate.
The total population of Iceland is about 344,000 and the area is 39,682 sq mi. In 2022, Iceland is the tenth-most productive country in the world per capita (US$68,844), and the fifth-most productive by GDP at purchasing power parity ($58,151).
- Human Development Index Score: 0.949
- GDP: $25.4 billion
- Population: 0.345 million
- GDP per Capita: $68,844
03. Switzerland – 0.955 HDI
Switzerland is the third among the top 10 most developed countries in the world 2024. It is known for its dense forests, wildlife as well as safe and clean water. Switzerland is a land of natural beauty surrounded by a land at the confluence of Western, Central and Southern Europe.
It is a federal republic made up of 26 cantons, with federal authorities based in Bern. Switzerland is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland has a total area of 15,940 square miles and a land area of 15,443 square miles.
Furthermore, although the Alps occupy the bulk of the region, the Swiss population of about 8.7 million is mostly concentrated on the plateau, where the largest cities and economic centers are, among them Zurich, Geneva and Basel.
Also, Switzerland is known for its expansive landscape. There are more than 1,500 lakes in this cleanest place on Earth, each less than 10 miles from another lake.
- Human Development Index Score: 0.955
- GDP: $810.8 billion
- Population: 8.76 million
- GDP per Capita: $93,515
02. Ireland – 0.955 HDI
With a 0.955 HDI score, Ireland is the second most developed country in the world by 2024. Ireland, a developed country, performs well in several national performance metrics, including health care, economic freedom and freedom of the press. It is a member of the European Union and a founding member of the Council of Europe and the OECD.
The Irish government has followed a policy of military neutrality through non-alignment since immediately before World War II and as a result the country is not a member of NATO, although it is a member of the Partnership for Peace and Pesco aspects.
Additionally, Ireland is a country in north-western Europe comprising 26 of the 32 counties of the island of Ireland. The country’s capital and largest city is Dublin, which is located on the eastern side of the island. About 40% of its population of 5 million people live in the Greater Dublin area. In addition, Ireland is also one of the richest countries in the world.
- Human Development Index Score: 0.955
- GDP: $516.2 billion
- Population: 5.03 million
- GDP per Capita: $102,394
01. Norway – 0.957 HDI
Norway is the most developed country in the world by 2024. It is a Nordic country in Northern Europe. Its mainland covers the western and northern parts of the Scandinavian Peninsula. The capital and largest city of Norway is Oslo. It has a hefty VAT rate of 25%, one of the highest in the world, which drives up the cost of most everyday items.
Additionally, Norwegians have the second highest GDP per capita among European countries (after Luxembourg), and enjoy the sixth highest GDP per capita (PPP) in the world. Also, Norway ranks as the second wealthiest country in the world in monetary value, with the largest capital reserve per capita of any country.
The tax rate on food is only 15% lower, but still considered expensive. Plus, Norway is the third most expensive place in the world to buy groceries.
- Human Development Index Score: 0.957
- GDP (2022): $445.5 billion
- Population: 5.49 million
- GDP per Capita (2022): $82,244
Hi, here is the list of the Most developed countries in the world.
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