With an HDI rating of 0.955, Norway is currently the most developed country in the world, where the government ensures low corruption, low unemployment, high standard of education, living and life expectancy. The country’s development is in no small part due to resources at its disposal such as petroleum, natural gas and ores.
Australia has an HDI rating of 0.938 and its cities are among the best in terms of living standard in the world. There is a high literacy rate, low corruption, good quality of life and guaranteed civil rights. Their per capita income is also very high and citizens of the country are among the happiest in the world.
With an HDI rating of 0.937, the influence of America on the rest of the world cannot be questioned. As their economy spiraled, the whole world suffered from its effects. While life expectancy in the United States is not all that high, the country has one of the highest ratings in terms of cultural diversity in the world. Major industries like automobiles, chemicals, foods and beverages flourish in America and they have trade relations across the globe.
Having an HDI rating of 0.921, Netherlands is Europe’s second highest developed country. Their citizens are also found to be among the happiest in the world due to low taxation, low corruption and high standards of education and health care. Industrial growth is also good in the country and shipping, fishing, trade and banking are among the leading sectors along with chemicals, electrical components and machinery.
After Netherlands, Germany is the 3rd most developed European nation with an HDI rating of 0.920. They have an outstanding literacy rate, a large and skilled labor force and low corruption. Several renowned companies such as Volkswagon, Siemens and BMW are also headquartered in Germany. Tourism is also a strong industry in the country given their architecture.
New Zealand has an HDI index of 0.919 and along with being a great tourist destination this group of islands has high life expectancy. While the country had an economic slump during the early 1980s, reforms and other measures brought things back into control by 1984.
With an HDI rating of 0.916, Ireland is a country with a small population (4.5 million) but is developing really fast. There is a high literacy rate (99%) and high life expectancy (79 years), all of which attract foreign investment and multinational companies. While Ireland went into recession after 2007, it reemerged after 2010.
Sweden is one of the most developed countries in the world with an HDI rating of 0.916. The nation is a hot tourist destination given its environment friendly policies. The leading sectors include trade, agriculture and industry and the country is the 8th in terms of exports. Major companies in the country include Volvo, Ericsson and Electrolux.
One of the strongest economies in the world, Switzerland has an HDI rating of 0.913. Cities in the country like Geneva and Zurich are ranked among the top 10 in the world in terms of quality of life. Switzerland also has the highest Economic Freedom Index (EFI) in all of Europe and while Japan is more technologically advanced, the former has a more stable economy.
Japan is the 10th most developed country in the world with an HDI rating of 0.912. It is also among the top three strongest economies in Asia with stiff competition against China. Technology, robotics, chemicals, automobiles and power sectors lead the industry and the national infrastructure is strong enough to promote high life expectancy.