In this article, we discuss the top 5 most advanced countries in the world. If you want to see more most advanced countries in the world, go directly to Top 15 Most Advanced Countries in the World.
5. Sweden
Sweden ranks #5 on our list of Top 15 Most Advanced Countries in the World as the country is regarded as ‘the Silicon Valley of Europe’ by many. With the country’s entrepreneurial spirit, the country has the third highest startup rate in the world with 20 startups per 1,000 employees. Furthermore, Stockholm has the second highest startups valued at over $1 billion per capita as of 2020, ranking second only to Silicon Valley. Sweden also has a deep social safety net that helps to foster more risk taking that could help with innovation. In 2021, the country has a GDP per capita of $60,238.9.
4. Switzerland
Switzerland ranks as one of the wealthiest countries in the world with a GDP per capita of $93,457.44 in 2021 in part due to its dedication to innovation. Bettina Rutschi of Credit Suisse explains the country’s innovative culture,
Lacking natural resources, Switzerland has always been forced to innovate. Given the country’s small and highly fragmented internal market, early on Swiss companies also had to look for foreign markets for their goods, and they had to be productive enough to compete internationally. Since the country was largely spared the ravages of the Second World War, it was in an excellent position, with intact, export-oriented production facilities, to benefit from Europe’s post-war reconstruction. Also helpful were Switzerland’s liberal, stability-oriented economic policy and traditional emphasis on hard work, dedication and education.
Along with private industry, the higher education sector plays an important role in Switzerland’s innovative capacity – for example, the Swiss Federal Institute of Technology Zurich (ETHZ) and EPFL in Lausanne. Those two universities are in the top 20 worldwide. The central mandate of Switzerland’s institutes of technology is to promote innovation. Each year, more than 2,000 graduates of master’s degree programs and more than 1,000 PhDs leave ETHZ and EPFL to join the private sector. The two institutes also conduct basic research and partner with the private sector and public agencies to produce successful, market-ready innovations through the transfer of knowledge and technology. They apply for approximately 200 patents every year, and reported 49 spin-offs in 2014 alone.
3. Denmark
Denmark ranks #3 on our list of Top 15 Most Advanced Countries in the World given it has one of the most digitized economies in the European Union along with a tech savvy population and excellent IT infrastructure. The country is also a leader in renewable energy as around 50% of the electricity in the nation is supplied by either wind or solar power. In 2021, Denmark had a GDP of $67,803.05, ranking it among the wealthiest nations in the world.
2. South Korea
South Korea is a leader in technology given its highly educated population and its innovative tech companies like Samsung Electronics. As a result of its dedication to innovation, the country spends more on R&D as a share of GDP than many other developed countries. In 2021, South Korea had a GDP per capita of $34,757.72, which ranks as one of the highest in Asia.
1. United States
The United States ranks #1 on our list of Top 15 Most Advanced Countries in the World given its leadership in technology. Given its history of innovation, the United States has developed the airplane, the internet, semiconductors, and PCs which have revolutionized society and increased productivity substantially. The United States is also home to many of the world’s leading technology companies such as Apple, Microsoft, Alphabet, Meta, Amazon, Tesla, and NVIDIA, many of which developed in Silicon Valley which is regarded as the tech capital of the world. Given that the United States has the largest economy in the world with a GDP of $23 trillion in 2021, many American tech companies have a huge market to grow. Moreover, the nation has many of the world’s leading universities and the world’s leading financial system.
For the future, American companies are working on developing AI and renewable energy which could make the world even more productive and sustainable. In 2021, American GDP per capita ranked among the world’s highest at $69,287.54.
You can also take a look at 15 Biggest Banks In The World and Ken Griffin Stock Portfolio: Top 10 Stock Picks.