In this article, we discuss 5 most advanced countries in the world in 2023. If you want to see more most advanced countries in the world in 2023, go directly to 20 Most Advanced Countries in the World in 2023.
5. Sweden
Ranking Composite Score: 4.63
Sweden is another Scandinavian country that is very advanced with a composite score of 4.63 according to the Global Finance’s list of most technologically advanced countries in the world in 2022. According to the Global Innovation Index for 2022, Sweden ranks very highly in infrastructure, business sophistication, and knowledge and technology outputs.
4. Switzerland
Ranking Composite Score: 4.72
Although Switzerland has recently had to get UBS to buy Credit Suisse, the country nevertheless remains one of the most advanced in the world. With a population of 8.7 million people, Switzerland has a GDP of $800.6 billion, ranking it among the larger economies in Europe. Given its ranking according to Global Finance, Switzerland ranks #4 on our list of 20 Most Advanced Countries in the World in 2023.
3. Denmark
Ranking Composite Score: 5.02
Denmark is one of the most developed nations in Europe with a GDP of $398.3 billion with a population of around 5.9 million people. As a country, Denmark scores well in infrastructure and is also among the top 10 when it comes to institutions according to the Global Innovation Index for 2022.
2. South Korea
Ranking Composite Score: 6.52
South Korea is one of the leading R&D countries in the world given research and development expenditures accounted for 4.81% of the country’s GDP in 2020, ranking second in the world behind only Israel which spent 5.44% of its GDP on R&D. The R&D has generated substantial economic development for South Korea in the past given the country is now one of the most developed countries in the world with a GDP per capita of $34,997.78 in 2021.
1. United States
Ranking Composite Score: Over 6.52
The United States ranks #1 on our list of 20 Most Advanced Countries in the World in 2023 given the country’s substantial technological innovation.
The United States has Silicon Valley, which many regard as the capital of the technology world. In the past, the United States has sent a man to the moon, invented computers, and also the internet. In the future, American companies like OpenAI, Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG) are among the leaders in AI which could increase productivity to help Americans produce substantially more products and services in the future.
Despite its huge economy, the United States also spends a lot in R&D. In 2020, research and development expenditures accounted for 3.45% of United States GDP, which ranks as #1 in the world in nominal GDP.
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