The major factor that differentiates a developed and developing nation from each other is the gross domestic product (GDP) per capita of a country. However, exceeding the GDP of $12,000 doesn’t automatically declare a country as a developed one as they have other factors too; (some of them are) they are highly industrialized, their death and birth rates are stable, they have women working at executive level positions and they consume more oil. Other factors also include Human development index and freedom of press. With that being said, here are some of the top developing and developed countries in the world.
Following are the developed countries in the world:
Norway is one of those countries that is highly ranked on the list of developed countries by the Human Development Index in terms of having a universal health care, highest standard of living and highest life expectancy of 84 years for females and 80 for males. In Norway, one can enjoy low unemployment rate, high quality of life and democracy as it is one of the nations that is also ranked as a democratic country.
Australia is ranked as the 2nd most developed country by the HDI. Being one of the wealthiest countries in the world because of its economy, Australia is now regarded as a country that offers high incomes, excellent quality in education that is renowned all over the world, highest quality of life, perfect health care and economic freedom. The economy of Australia relies mainly on banking, telecommunications, mining and manufacturing.
Switzerland is known all over the world for being the wealthiest nations in the world having a powerful and high-tech economy which is why it is also one of those places that is regarded as an expensive one to live in at. Switzerland is the third most highly developed country that offers a low unemployment rate, economic competitiveness, low business corruption and overall a high quality of life that anyone would desire for.
Despite being hit by the global financial crisis in 2008, Netherlands is one such country which has brought itself up back again from the crisis and made itself as the fourth most developed countries in the world. Netherlands is not only known for its beauty but is also a single best country to raise your child at as it offers exceptional quality in education. They also have an effective health care system. This developed country mainly relies on international trade which is why it is considered to be an extremely open nation.
5. United States
The largest national economy in the world can be found in the US which is proved by the fact that its GDP alone is the quarter of the total GDP of the world. Their economy is dependent mainly on productivity and natural resources. United States is one of the largest manufacturers in the whole world hence, the reason of it being the 5th most highly developed country.
|Greece||United Kingdom||New Zealand|
Source: UN – United Nations, 2014
Underdeveloped / Developing Countries
Here’s the link of developing countries:
During the first part in the 20th century, Argentina was regarded as an economically strong nation, however, as time passed by, it witness a downward trend in the way of life. Even though today Argentina has recovered itself and has crossed the GDP of $12,000 which is a minimum requirement to be known as a developed country. But, there are other factors like high number of death of infants, almost no access to clean water, medical care or healthy food and education which makes it a part of our developing countries list.
Brazil has several characteristics of being called as a developed country; one of it is that it has a largest economy in Central or South America but then again it comes under a developing nation because of low GDP per capita, high infant mortality rates, low living standards, lack of quality healthcare and other factors.
One may think of China as a developed country as it has the third largest military and second largest economy in the world but despite having all that, the country’s GDP per capita is still low than the standard rate set for becoming a developed nation hence, it is regarded as a developing country (investopedia). Other reasons for it being an underdeveloped country are that it depends mainly on agriculture and has low level of technological innovation, apart from this; poverty is at its maximum in China where people live on less than $2 a day.
Malaysia is one of those countries which is undergoing a quick economic development if you see its progress over the last 5 decades. But the GDP per capita, level of industrialization, standard of living and income levels are some of the reasons which is why Malaysia is still regarded as a developing country and not a developed nation. Malaysia shares some common characteristics with some of the other developing nations like China and Brazil like high volatility, quick economic growth and above average yield for investors.
Even though Mexico’s GDP is beyond the standard set for a country to become a developed nation, it has a lower life expectancy than the developed nations, poverty is at its maximum in Mexico, and infant mortality rate is higher, lack of health care and clean water facilities. Although, one can still say that Mexico is close or an advanced developing countries in the world.
|Morocco||Cote de Ivoire||Lebanon|
|Central African Republic||Guinea Bissau||Syrian Arab Republic|
|Congo||Mali||United Arab Emirates|
|Sao Tome and Principe||Senegal||Cuba|
|Burundi||Sierra Leone||Dominican Republic|
|The Democratic Republic of the Congo||Brunei Darusslam||Haiti|
|Eritrea||Hong Kong||Trinidad and Tobago|
|Rwanda||Papua New Guinea||Honduras|
|Uganda||Republic of Korea||Nicaragua|
|United Republic of Tanzania||Singapore||Panama|
Source: UN – United Nations, 2014
The most common factor to decide and rank countries whether they are a developed nation or a developing nation is through the HDI referred to as Human Development Index. Countries that are developed in nature offer perfect health care, excellent education, high average life expectancy, a great number of job opportunities, recreational facilities, economic growth, high standard of living and most of all happiness of living a luxurious life. But there are also some developing countries that are striving and pushing themselves hard to become as a developed country.
- List of First World Countries
- List of Third World Countries
- List of Least Corrupt Countries in the World