Which countries have the highest standard of living? Standard of living refers to the rank of getting pleasure for everyday life in luxury and extravagance by an individual or a society. There are certain factors to consider supporting the rankings to find out the answer. Highest standard of living can be measured thru the country’s level of safety, standard of education (where knowledge as measured by the adult literacy rate and the gross enrolment ratio of the combined primary, secondary and tertiary students), economic situation, life contentment and/or expectancy at birth (wherein a long and healthy life is measured) and household income to name a few.
As mentioned before in our article about the countries with the best quality of life, one of the important indicators to help evaluate the welfare of an individual or people in a country is to know their condition and worth of life. In this list where we are going to find out the top 11 countries with the highest standard of living, we are going to measure the income and the poverty rate of the people. We are also going to assess the quality of the life and other cultural and social aspects of the country. A decent standard of living is also measured by the GDP (Gross Domestic Product) of the country wherein the value of all goods and services produces in the economy is divided by the population.
Wouldn’t be great to find out which of these countries have the highest standard of living…who knows maybe one day we could visit and experience an excellent chance at a blissful life.
Now let’s check out how they ranked accordingly to the HDI (Human Development Index), a methodology used to compare and measure the different factors that will describe a country if it is a developing or developed nation. Last July 24, 2014, the latest report on HDI was launched in Tokyo wherein 30% of the world’s population have high human development account. Only 18% of the population falls in the low human development category.
So, let’s check out the list, beginning with:
With more than 5 million populations, it pulls towards its beautiful countryside a lot of tourists that seek fun and entertainment thru the popular Norway Cruise. HDI is 0.943; Literacy is 100% where English is widely spoken. Popular with agricultural products like Barley, wheat and potatoes. Natural resources are petroleum, copper and hydropower. Export and import came from mining, shipbuilding, paper products, metals and chemicals industries.