There are different criteria that are used for ranking the most developed countries in the world but the most common one is the HDI which is short for Human Development Index. You will find that there are countries which are ranked low on the following list while they are thought by many people to be ranked higher as the most developed countries in the world and there are also some countries which are not thought to be among the highly developed countries but are ranked here. Let’s discover more about the top 10 highly developed countries in the world. Ranking the following countries is based on the Human Development Index which is usually referred to as HDI.

5. United States - 0.914

The United States is a highly developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for approximately a quarter of global GDP.

4. Netherlands - 0.915

Netherlands is a constitutional monarchy, while also being a representative democracy. The Netherlands has very high educational and literacy standards, while having low poverty and unemployment rates, and is led by its Prime Minister Mark Rutte. The country’s GDP is $832.160 billion and has a GDP per capita of $49,950. In May of 2011, the Netherland’s 16.7 million people were ranked as the happiest in the world, with a stable economy, guileless government, low taxes, beautiful cities such as the capital of Amsterdam, and a healthy life expectancy of 79.8 years.

3. Switzerland - 0.917

One of the world’s wealthiest nations, Switzerland has an extremely stable economy which follows the policy of long term monetary security making it a preferred choice for investors all over the globe. Apart from foreign investment, the country relies upon its high labor specialization, trade and industries to earn a GDP of $363.4 billion and $45,418 per capita. Needless to say, the country enjoys very high standards of living while the life expectancy is 81.38. Switzerland is the 3rd most developed country in world.

2. Australia - 0.933

One of the biggest industrialist economies on the planet is Australia where the real commitment to its GDP of $970.8 billion ($42,640 per capita) is made by the administration part while mining and horticulture additionally make noteworthy commitments. Aside from its rich economy, human improvement, social insurance and social equality practiced by its nationals make the nation the second most created in world. The future is high at 82.07 years and the nation has reliably kept up one of the most elevated ways of life in world.

1. Norway - 0.944

It may not boast of the largest economy of the world but this Scandinavian neighbor of Sweden is the most developed country in the world currently going by the human development index which gave it a score of 0.955. Norway is a largely peaceful country with great standards for quality of life, education, governance and living. It people are considered to be among the happiest with virtually no poverty and low unemployment rates. The country played a pivotal role in the founding of the NATO but is yet to join the European Union. It is a universal role model for all the welfare states in terms of developing a social security system, advanced schooling system and a healthcare system.