A developed country is a sovereign state that has a higher quality of life, developed economy and advanced technological infrastructure compared to other less industrialised countries. Want to know which is the most developed country in the world? Here we have compiled a list of the top 10 most developed countries in the world 2024.
Usually, 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 the same score in this list and Australia and the Netherlands also have the same score.
Denmark is set to become the tenth most developed country in the world by 2024. Also, it is one of the top 10 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 country’s capital and is one of the most expensive cities in the world.
The Danish capital is expensive, especially for those who want to indulge in retail therapy. In addition, Denmark has a developed mixed economy that is classified as a high-income economy by the World Bank.
Denmark is the 10th most expensive country in the world to live in. The country’s overall cost of living index is generally very high, and it misses ranking in the top 5 most expensive countries to live in.
Australia ranks ninth among the top 10 most developed countries in the world. It has an HDI score of 0.944, along with the Netherlands. It is a sovereign transcontinental country that consists of the mainland of the Australian continent, the island of Tasmania, and several smaller islands.
With an area of 7,617,930 square kilometres, 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. It has a high GDP per capita and a relatively low poverty rate.
Australia was the 13th largest national economy by nominal GDP, the 22nd largest by PPP-adjusted GDP, and the 25th largest commodity exporter and 20th largest commodity importer. The country has a projected nominal GDP of approximately $1.7 trillion by 2024.
08. Netherlands – 0.944 HDI
Human Development Index Score: 0.944
Population: 18.1 million
GDP (nominal): $1.1 trillion
GDP per Capita: $63,750
The Netherlands is the 8th most developed country in the world in 2024, with an HDI score of 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, while West Frisian is a secondary official language in the province of Friesland. English and Papiamento are secondary official languages in the Caribbean Netherlands. The Netherlands is a developed economy and has been playing a special role in the European economy for several centuries.
The major trading partners of the Netherlands are 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. Food products make up the largest industrial sector. Also, other major industries include chemicals, metallurgy, machinery, electrical goods, trade, services, and tourism.
07. Sweden – 0.945 HDI
Human Development Index Score: 0.945
Population: 10.5 million
GDP (nominal): $623 billion
GDP per Capita: $58,529
Sweden ranks 7th in the top 10 most developed countries in the world in 2024. It has been on the list of the cleanest countries in the world for several consecutive years. Sweden is a Nordic country in Northern Europe. It is located on the border with Finland to the west and Norway to the north.
In addition, Sweden is the largest country in Northern Europe, with an area of 450,295 square kilometres, making it the third largest country in the European Union and the fifth largest country in Europe.
The capital and largest city of Sweden is Stockholm. The country has a total population of 10.5 million, with 87% of the inhabitants living in urban areas, which cover 1.5% of the entire land area. The highest concentrations are in the central and southern parts of the country.
Also, Sweden is the 14th richest country in the world by GDP per capita and its citizens have experienced a high quality of life. Sweden is one of the most beautiful places on earth.
06. Germany – 0.947 HDI
Human Development Index Score: 0.947
Population: 84.6 million
GDP (nominal): $4.5 trillion
GDP per Capita: $54,291
Germany is the sixth most developed country in the world in 2024, with an HDI score of 0.947. Germany’s economy is a highly developed social market economy that is the largest national economy in Europe. Also, it is the world’s third largest economy by nominal GDP and the fifth largest by purchasing power parity (PPP).
Germany has a social market economy with a highly skilled labour force, low levels of corruption, and high levels of innovation. It is the world’s third largest exporter and third largest importer.
Also, its GDP per capita measured in purchasing power standards is 121% of the EU 27 average. Germany is part of the European Single Market which represents over 450 million consumers. Its monetary policy is determined by the European Central Bank, headquartered in Frankfurt.
Hong Kong ranks fifth among the top 10 most developed countries in the world in 2024, with an HDI of 0.949. It is a city and special administrative region of China on the eastern Pearl River Delta in southern China. It is one of the most expensive countries to live and work in.
With over 7.5 million residents of various nationalities in an area of 1,104 square kilometres, Hong Kong is one of the most densely populated places in the world. In addition, Hong Kong has the fifth highest 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 most skyscrapers than any other city in the world. The life expectancy of its residents is one of the highest in the world.
04. Iceland – 0.949 HDI
Human Development Index Score: 0.949
Population: 399,189
GDP (nominal): $30.5 billion
GDP per Capita: $78,836
Iceland is the fourth most developed country in the world, with an HDI score of 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 Reykjavík. More than two-thirds of the population lives in Reykjavík and surrounding areas in the southwest 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 constantly. Also, its high latitude and marine influence keep summers cool, and most of its islands have a polar climate.
Iceland has a total population of about 399,189 and an area of 39,682 square miles. Iceland is the seventh most productive country in the world by GDP per capita (US$78,836), and the 14th most productive by GDP at purchasing power parity ($69,833).
03. Switzerland – 0.955 HDI
Human Development Index Score: 0.955
Population: 8.8 million
GDP (nominal): $938.4 billion
GDP per Capita: $105,669
With an HDI score of 0.955, Switzerland ranks third in the top 10 most developed countries in the world in 2024. It is known for its dense forests, wildlife as well as safe and clean water.
Switzerland is a landlocked country of natural beauty located at the confluence of Western, Central, and Southern Europe. It is a federal republic made up of 26 cantons, with the federal authorities located 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.
Also, the Alps occupy the bulk of the region, the Swiss population of about 8.8 million is mostly concentrated on the plateau, where the largest cities and economic centres are, including Zurich, Geneva, and Basel. In addition, Switzerland is known for its vast landscape. This cleanest place on Earth has more than 1,500 lakes, each of which is less than 10 miles from another lake.
02. Ireland – 0.955 HDI
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Human Development Index Score: 0.955
Population: 7.1 million
GDP (nominal): $564 billion
GDP per Capita: $106,059
With an HDI score of 0.955, Ireland is the second most developed country in the world by 2024. It is a developed country, performing well in several national performance metrics including healthcare, 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 just 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 northwestern Europe that comprises 26 of the 32 counties of the island of Ireland. The country’s capital and largest city is Dublin, located on the eastern side of the island. About 40% of its population of 5 million people live in the Greater Dublin area. Also, Ireland is one of the richest countries in the world.
With the highest score, Norway is the most developed country in the world by 2024. It is a Nordic country in Northern Europe, located on the Scandinavian Peninsula. The capital and largest city of Norway is Oslo.
In addition, Norway’s economy is a highly developed mixed economy with state ownership in strategic sectors. Despite being vulnerable to global business cycles, Norway’s economy has shown strong growth since the beginning of the industrial age.
Also, the country has a very high standard of living compared to other European countries. Norway’s modern manufacturing and welfare system depend on financial reserves generated by the exploitation of natural resources, especially North Sea oil. Among OECD countries, Norway has a highly efficient and strong social security system.
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Hi, here is the list of the Most developed countries in the world.
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Hi, here is the list of the Most developed countries in the world.
Excellent blog here Also your website loads up very fast What web host are you using Can I get your affiliate link to your host I wish my web site loaded up as quickly as yours lol