Top Countries with Highest Standard of Living

Living Standard

The standard of living of a country is measured by the Social Progress Index. A strong GDP Per Capita is not the only gauge for measuring standard of living. There are some factors which make up the Social Progress Index. They include basic human needs (medical, shelter and sanitation), education, technology and life expectancy and freedom of choice, general tolerance and personal rights.

Countries with highest living standard

Let’s have a look at the list of countries with highest standard of living:

  1. Denmark

Denmark is the country that has empathized on creating a balanced work life. It has successfully achieved that without compromising on education and work ethics. The best thing about Denmark is that people don’t have to work overtime. Only 2% of the people work for long hours. Danish have graded their life satisfaction 7.5/10. As per 2016, the average household net adjusted disposable income per capita in the country was 26,945 USD per year. 80% of the adults (25 to 64 years) have completed higher secondary education. Life expectancy in the country is 80 years.

  1. Germany

Germans are famous for their efficiency and we can readily see that in the infrastructure, education and employment. As per the stats of 2016, the average household net adjusted disposable income per capita in the country was 31,925 USD per year.  87% of adults (25 to 64) have completed higher secondary education. 74 percentage people between 15 and 64 have a paid job. Life expectancy in the country is 81 years.

  1. Switzerland

Switzerland is termed as one of the most expensive countries in the world. As per the 2016 report, the average household net adjusted disposable income per capita was USD 35 952 a year. 80% of people between 15 and 64 of age in Switzerland are employed. 88% of adults have completed higher secondary education. Life expectancy in the country is 83 years. Education and healthcare system and quality of water are perfect here. Although the pollution rate in the country is high but, it hasn’t influenced what the country has achieved.

  1. New Zealand

In 2016, New Zealand’s average household net adjusted disposable income per capita was USD 29,016 a year. 74% of people between 15 and 64 of age in the country are employed. 74% of adults have completed higher secondary education. Life expectancy in the country is 81 years. About quarter of the population is employed and it earns decent wages.  The country enjoys a strong economic growth which is mostly driven by tourism, construction and immigration.

  1. Finland

It is one of the European countries that enjoys a great standard of living. The education system here is amazing. The teaching style adopted is unique as everything is based on one-on-one learning. There are no standardized tests in the country. The average household net adjusted disposable income per capita was USD 28,238 a year in 2016. 69% of people between 15 and 64 of age in Finland are employed. 87% of adults have completed higher secondary education. Life expectancy in the country is 81 years.

  1. Australia

As there are a high number of graduates in Australia, the employment rate is high. Their emphasis is always been on education. The country is great in civic participation. 90% of the people say they always had someone to count on in bad times. The average household net adjusted disposable income per capita was USD 33,138 a year in 2016. 72% of people between 15 and 64 of age in the country are employed. 77% of adults have completed higher secondary education. Life expectancy in the country is 82 years.

  1. Austria

It is again one of those countries where education is considered extremely important.  90% of the men have completed high school education. The country is very lucky in the matter of water quality. The average household net adjusted disposable income per capita was USD 33,667 a year in 2016. 71% of people between 15 and 64 of age in Austria are employed. 84% of adults (both men and women) have completed higher secondary education. Life expectancy in the country is 81 years.

  1. The Netherlands

Because of the high education rate, the employment rate in the country is high which ultimately leads to a higher standard of living. The population in the country is high which has directly impacted the prices. The average household net adjusted disposable income per capita was USD 27,759 a year in 2016. 73% of people between 15 and 64 of age in Netherlands are employed. 76% of adults have completed upper secondary education. Life expectancy in the country is 81 years. These qualities make this country a popular choice among the expats.

  1. Sweden

The cost of living in the country is high, especially in Stockholm (the capital city). In 2016, the average household net adjusted disposable income per capita was USD 28,859 a year. 75% of people between 15 and 64 of age in Sweden are employed. 82% of adults have completed higher secondary education. Life expectancy in the country is 82 years.

  1. The United States of America

In 2016, the average household net adjusted disposable income per capita was USD 41,071 a year. 68% of people between 15 and 64 of age in The USA are employed. 90% of adults have completed higher secondary education. Life expectancy in the country is 79 years. There is no sole breadwinner in the country, each household has multiple earners.

If you are an expat trying to move to the countries with the best standard of living, you will have to look into a lot more than just the education, healthcare facility and employment before moving in. The most difficult thing in all these countries is to afford a house. The major portion of your income always goes in housing.

Here is a table that explaining the standard of living by country:

Rank Country Quality of Life Index Purchasing Power Index Cost of living Index
1 Denmark 180.14 98.67 93.27
2 Germany 178.92 107.90 73.18
3 Switzerland 172.86 114.60 138.16
4 New Zealand 172.46 89.65 87.53
5 Finland 179.40 101.93 81.23
6 Australia 172.40 107.84 85.96
7 Austria 178.53 87.11 78.98
8 The Netherlands 177.80 94.23 79.61
9 Sweden 158.90 94.77 83.32
10 United States of America 167.50 114.73 77.23

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