A developed country, industrialized country, more developed country, or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate.
Developed countries have generally post-industrial economies, meaning the service sector provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialization or pre-industrial and almost entirely agrarian, some of which might fall into the category of least developed countries. As of 2015, advanced economies comprise 60.8% of global GDP based on nominal values and 42.9% of global GDP based on purchasing-power parity (PPP) according to the International Monetary Fund. In 2017, the ten largest advanced economies by GDP in both nominal and PPP terms were Australia, Canada, France, Germany, Italy, Japan, South Korea, Spain, the United Kingdom, and the United States.
Terms linked to the concept developed country include "advanced country", "industrialized country", "'more developed country" (MDC), "more economically developed country" (MEDC), "Global North country", "first world country", and "post-industrial country". The term industrialized country may be somewhat ambiguous, as industrialization is an ongoing process that is hard to define. The first industrialized country was the United Kingdom, followed by Belgium. Later it spread further to Germany, United States, France and other Western European countries. According to some economists such as Jeffrey Sachs, however, the current divide between the developed and developing world is largely a phenomenon of the 20th century.
Economic criteria have tended to dominate discussions. One such criterion is income per capita; countries with high gross domestic product (GDP) per capita would thus be described as developed countries. Another economic criterion is industrialization; countries in which the tertiary and quaternary sectors of industry dominate would thus be described as developed. More recently another measure, the Human Development Index (HDI), which combines an economic measure, national income, with other measures, indices for life expectancy and education has become prominent. This criterion would define developed countries as those with a very high (HDI) rating. The index, however, does not take into account several factors, such as the net wealth per capita or the relative quality of goods in a country. This situation tends to lower the ranking for some of the most advanced countries, such as the G7 members and others.
According to the United Nations Statistics Division:
And it notes that:
The designations "developed" and "developing" are intended for statistical convenience and do not necessarily express a judgement about the stage reached by a particular country or area in the development process.
The UN HDI is a statistical measure that gauges a country's level of human development. While there is a strong correlation between having a high HDI score and a prosperous economy, the UN points out that the HDI accounts for more than income or productivity. Unlike GDP per capita or per capita income, the HDI takes into account how income is turned "into education and health opportunities and therefore into higher levels of human development."
Many countries listed by IMF or[Note 1] CIA as "advanced", possess an HDI over 0.800, the threshold for "very high" human development. Many countries[Note 2] possessing an HDI of 0.800 and over are also listed by IMF or CIA as "advanced". Thus, many "advanced economies" are characterized by an HDI score of 0.800 or higher. Since April 2016, the IMF classifies Macau as an advanced economy.
The 2018 Human Development Report by the United Nations Development Programme was released on 14 September 2018, and calculates HDI values based on estimates for 2017. Below is the list of the "very high human development" countries:
As a non-UN member, the government of Taiwan calculates its own HDI, which had a value of 0.907 in 2017, ranked 21 globally. Additionally, while the HDI for the Chinese special administrative region of Hong Kong is calculated by the UN, it is not for Macau. The Macanese government calculated the territory's HDI to be 0.868 in 2011. These values place both Taiwan and Macau well within the list of countries with "Very high human development". Furthermore, in 2009 a United Nations project calculated the HDI for all of its members, as well as Taiwan, Macau, and many dependent territories. The HDI values for the countries of San Marino and Monaco, which have not been included in official annual HDI reports, were found to be at 0.961 and 0.956 respectively. This places both countries firmly within the category of countries with "Very high human development" as well. The dependent territories with HDI values equivalent to "Very high human development" were: Jersey, Cayman Islands, Bermuda, Guernsey, Gibraltar, Norfolk Island, Faroe Islands, Isle of Man, British Virgin Islands, Falkland Islands, Aruba, Puerto Rico, Martinique, Greenland, and Guam. Of note, the HDI values in the 2009 report were calculated using the old HDI formula, while HDI values after the year 2010 are calculated with a different formula.
Some institutions have produced lists of developed countries: the UN (list shown above), the CIA, and some providers of stock market indices (the FTSE Group, MSCI, S&P, Dow Jones, STOXX, etc.). The latter is not included here because its association of developed countries with countries with both high incomes and developed markets is not deemed as directly relevant.[Note 3]
However many other institutions have created more general lists referred to when discussing developed countries. For example, the International Monetary Fund (IMF) identifies 39 "advanced economies". The OECD's 36 members are known as the "developed countries club" The World Bank identifies 81 "high income countries".
According to the World Bank the following 81 countries (including territories) are classified as "high-income economies". As of 2018, High-income economies are those that had a GNI per capita of $12,056 or more - in 2017.
36 countries and territories wholly or partly in Europe:
19 countries and territories wholly or partly in North America:
15 countries and territories wholly or partly in Asia:
7 countries and territories wholly or partly in Oceania:
3 countries wholly or partly in South America:
1 country wholly or partly in Africa:
c Between 1994 and 2009, as part of the Netherlands Antilles.
26 countries wholly or partly in Europe:
3 countries wholly or partly in Asia:
2 countries in North America:
2 countries wholly or partly in Oceania:
1 country wholly or partly in South America:
There are 29 OECD member countries and the European Union—in the Development Assistance Committee (DAC), a group of the world's major donor countries that discuss issues surrounding development aid and poverty reduction in developing countries. The following OECD member countries are DAC members:
23 countries wholly or partly in Europe:
2 countries wholly or partly in Asia:
2 countries wholly or partly in North America:
2 countries wholly or partly in Oceania:
33 countries and territories wholly or partly in Europe:
8 countries and territories in Asia:
4 countries and territories in North America:
d The CIA has modified an older version of the IMF's list of Advanced Economies, noting that the IMF's Advanced Economies list "would presumably also cover the following nine smaller countries of Andorra, Bermuda, Faroe Islands, Guernsey, Holy See, Jersey, Liechtenstein, Monaco, and San Marino[...]"
There are 22 permanent members in the Paris Club (French: Club de Paris), a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.
15 countries wholly or partly in Europe:
3 countries wholly or partly in Asia:
3 countries in the Americas:
1 country in Oceania:
Comparative table of countries with "very high" human development (same or higher than 0.800), according to UNDP; members OECD; "advanced" economies, according to IMF; "high income" economies, according to World Bank and income per capita (purchasing power parity) higher than $22,000, acoording to IMF. (ot)
|Countries||HDI ||OECD ||IMF ||WB ||per capita PPP |
|Lithuania||Yes since 2005||Yes since 2018||Yes since 2015||Yes since 2012||Yes since 2011|
|Latvia||Yes since 2005||Yes since 2016||Yes since 2014||Yes since 2012||Yes since 2013|
|Estonia||Yes since 2003||Yes since 2010||Yes since 2011||Yes since 2006||Yes since 2011|
|Israel||Yes before 1990||Yes since 2010||Yes before 2001||Yes since 1987||Yes since 2004|
|Slovenia||Yes since 1998||Yes since 2010||Yes since 2007||Yes since 1997||Yes since 2004|
|Czech Republic||Yes since 2001||Yes since 1995||Yes since 2009||Yes since 2006||Yes since 2005|
|Slovak Republic||Yes since 2006||Yes since 2000||Yes since 2009||Yes since 2007||Yes since 2007|
|Portugal||Yes since 2005||Yes since 1961||Yes before 2001||Yes since 1994||Yes since 2004|
|South Korea||Yes since 1999||Yes since 1996||Yes before 2001||Yes since 1993||Yes since 2005|
|Greece||Yes since 2001||Yes since 1961||Yes before 2001||Yes since 1996||Yes since 2002|
|New Zealand||Yes before 1990||Yes since 1973||Yes before 2001||Yes since 1987||Yes since 2001|
|Spain||Yes since 1995||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1999|
|Finland||Yes since 1994||Yes since 1969||Yes before 2001||Yes since 1987||Yes since 1997|
|Ireland||Yes since 1996||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1997|
|Iceland||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1996|
|United Kingdom||Yes since 1992||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1996|
|Italy||Yes since 1995||Yes since 1962||Yes before 2001||Yes since 1987||Yes since 1994|
|Sweden||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1995|
|Australia||Yes before 1990||Yes since 1971||Yes before 2001||Yes since 1987||Yes since 1994|
|Belgium||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1994|
|Canada||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1994|
|France||Yes since 1993||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1994|
|Luxembourg||Yes since 1994||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1985|
|Japan||Yes before 1990||Yes since 1964||Yes before 2001||Yes since 1987||Yes since 1993|
|Austria||Yes since 1991||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1992|
|Denmark||Yes since 1991||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1991|
|Germany||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1991|
|Netherlands||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1991|
|United States||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1989|
|Norway||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1985|
|Switzerland||Yes before 1990||Yes since 1961||Yes before 2001||Yes since 1987||Yes since 1985|
|Countries to be considered developed in the future (1 pending recognition)|
|Countries||HDI ||OECD ||IMF ||WB ||per capita PPP |
|Hungary||Yes since 2005||Yes since 1996||No||Yes since 2014||Yes since 2010|
|Chile||Yes since 2008||Yes since 2010||No||Yes since 2012||Yes since 2013|
|Poland||Yes since 2003||Yes since 1996||No||Yes since 2009||Yes since 2011|
|Malta||Yes since 2003||No||Yes since 2008||Yes since 2002||Yes since 2003|
|Cyprus||Yes since 2000||No||Yes since 2001||Yes since 1988||Yes since 1998|
|Singapore||Yes since 1999||No||Yes before 2001||Yes since 1987||Yes since 1990|
|Hong Kong||Yes before 1990||No||Yes before 2001||Yes since 1987||Yes since 1994|
|In process (2 pending recognitions)|
|Countries||HDI ||OECD ||IMF ||WB ||per capita PPP |
|Croatia||Yes since 2007||No||No||Yes since 2017||Yes since 2015|
|Uruguay||Yes since 2014||No||No||Yes since 2012||Yes since 2017|
|Macau||No data||No||Yes since 2016||Yes since 1994||Yes before 1980|
|Puerto Rico||No data||No||Yes since 2016||Yes since 2002||Yes since 1998|
|Kuwait||Yes since 2015||No||No||Yes since 1987||Yes before 1980|
|Bahamas||Yes since 2012||No||No||Yes since 1987||Yes since 1997|
|Bahrain||Yes since 2012||No||No||Yes since 2001||Yes since 1986|
|Oman||Yes since 2012||No||No||Yes since 2007||Yes since 1991|
|San Marino||No data||No||Yes since 2012||Yes since 2000||Yes before 1980|
|Saudi Arabia||Yes since 2010||No||No||Yes since 2004||Yes since 1985|
|Taiwan||No data||No||Yes before 2001||Yes since 1987||Yes since 2002|
|United Arab Emirates||Yes since 2001||No||No||Yes since 1987||Yes before 1980|
|Qatar||Yes since 1997||No||No||Yes since 1987||Yes before 1980|
|Brunei||Yes since 1994||No||No||Yes since 1990||Yes before 1980|
|Countries||HDI ||OECD ||IMF ||WB ||per capita PPP |
|Antigua and Barbuda||No||No||No||Yes||Yes since 2014|
|Aruba||No data||No||No||Yes||No data|
|Bermuda||No data||No||No||Yes||No data|
|British Virgin Islands||No data||No||No||Yes||No data|
|Cayman Islands||No data||No||No||Yes||No data|
|Channel Islands||No data||No||No||Yes||No data|
|Curacao||No data||No||No||Yes||No data|
|Equatorial Guinea||No||No||No||Yes||Yes since 2002|
|Faroe Islands||No data||No||No||Yes||No data|
|French Polynesia||No data||No||No||Yes||No data|
|Gibraltar||No data||No||No||Yes||No data|
|Greenland||No data||No||No||Yes||No data|
|Guam||No data||No||No||Yes||No data|
|Isle of Man||No data||No||No||Yes||No data|
|Kazakhstan||Yes||No||No||No||Yes since 2012|
|Malaysia||Yes||No||No||No||Yes since 2012|
|Mauritius||No||No||No||Yes||Yes since 2017|
|Mexico||No||Yes since 1994||No||No||No|
|Monaco||No data||No||No||Yes||No data|
|New Caledonia||No data||No||No||Yes||No data|
|Northern Mariana Islands||No data||No||No||Yes||No data|
|Panama||No||No||No||Yes||Yes since 2015|
|Romania||Yes||No||No||No||Yes since 2016|
|Russia||Yes||No||No||No||Yes since 2010|
|Saint Kitts and Nevis||No||No||No||Yes||Yes since 2013|
|Seychelles||No||No||No||Yes||Yes since 2012|
|Sint Maarten||No data||No||No||Yes||No data|
|Trinidad and Tobago||No||No||No||Yes||Yes since 2005|
|Turkey||No||Yes since 1961||No||No||No|
|Turks and Caicos Islands||No data||No||No||Yes||No data|
|United States Virgin Islands||No data||No||No||Yes||No data|
Outstanding countries from Comparative table above as "Developed" and "1 and 2 pending recognitions" (1PR/2PR).
|Countries / Cities||Quality of living
|Cost of living
|HDI ||Democracy||Peace ||Prosperity ||Corruption ||Economic Freedom ||Competitiveness||per capita PPP |
|Canada / Ottawa||19||115||12||6||6||8||9||8||12||$48,389.5|
|Switzerland / Bern||14||<60||2||10||12||4||3||4||4||$62,124.7|
|Denmark / Copenhagen||9||<60||11||5||5||5||1||14||10||$50,071.5|
|Germany / Berlin||13||118||5||13||17||14||11||24||3||$50,803.6|
|New Zealand / Wellington||15||<60||16||4||2||2||2||3||18||$39,012.1|
|Austria / Vienna||1||117||20||16||3||15||14||31||22||$50,031.0|
|Sweden / Stockholm||23||117||7||3||14||6||3||19||9||$51,185.0|
|Netherlands / Amsterdam||12||<60||10||11||23||9||8||13||6||$53,933.0|
|Norway / Oslo||25||<60||1||1||16||1||7||26||16||$72,057.6|
|Australia / Canberra||30||<60||3||9||13||13||13||5||14||$50,390.9|
|Chile (1PR) / Santiago||92||203||44||23||28||38||27||18||33||$24,591.9|
|Poland (1PR) / Warsaw||82||242||33||54||32||33||36||46||37||$29,642.2|
|Uruguay (2PR) / Montevideo||77||179||55||15||37||30||23||40||53||$22,374.4|
In political philosophy, particularly Frankfurt School critical theory, advanced capitalism is the situation that pertains in a society in which the capitalist model has been integrated and developed deeply and extensively and for a prolonged period. The expression advanced capitalism distinguishes such societies from the historical previous forms of capitalism, mercantilism and industrial capitalism, and partially overlaps with the concepts of a developed country; of the post-industrial age; of finance capitalism; of post-Fordism; of the spectacular society; of media culture; and of "developed", "modern", and "complex" capitalism.
Various writers identify Antonio Gramsci as an influential early theorist of advanced capitalism, even if he did not use the term himself. In his writings Gramsci sought to explain how capitalism had adapted to avoid the revolutionary overthrow that had seemed inevitable in the 19th century. At the heart of his explanation was the decline of raw coercion as a tool of class power, replaced by use of civil society institutions to manipulate public ideology in the capitalists' favor.Jürgen Habermas has been a major contributor to the analysis of advanced-capitalistic societies. Habermas observed four general features that characterize advanced capitalism:
Concentration of industrial activity in a few large firms
Constant reliance on the state to stabilize the economic system
A formally democratic government that legitimizes the activities of the state and dissipates opposition to the system
The use of nominal wage increases to pacify the most restless segments of the work forceCyclones Lothar and Martin
Lothar and Martin were violent European windstorms which swept across western and central Europe during a period of 36 hours in December 1999. The storms caused major damage in France, southern Germany, Switzerland, and Italy. Throughout the affected region, 140 people were killed and damage was estimated at €9.9 billion. Both of these storms were associated with an intense jet stream aloft and benefitted from latent heat release through atmosphere-ocean exchange processes. Lothar and Martin together left 3.4 million customers in France without electricity, and forced EdF to acquire all the available portable power generators in Europe, with some even being brought in from Canada. These storms brought down a quarter of France's high-tension transmission lines and 300 high-voltage transmission pylons were toppled. It was one of the greatest energy disruptions ever experienced by a modern developed country.Debt relief
Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.
From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1982, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles.Developing country
A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), or underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita compared with other nations can also be a reference point.
The term "developing" describes a currently observed situation and not a changing dynamic or expected direction of progress. Since the late 1990s, developing countries tended to demonstrate higher growth rates than developed countries. Developing countries include, in decreasing order of economic growth or size of the capital market: newly industrialized countries, emerging markets, frontier markets, least developed countries. Therefore, the least developed countries are the poorest of the developing countries.
Developing countries tend to have some characteristics in common. For example, with regards to health risks, they commonly have: low levels of access to safe drinking water, sanitation and hygiene; energy poverty; high levels of pollution (e.g. air pollution, indoor air pollution, water pollution); high proportion of people with tropical and infectious diseases (neglected tropical diseases); high number of road traffic accidents. Often, there is also widespread poverty, low education levels, inadequate access to family planning services, corruption at all government levels and a lack of so-called good governance. Effects of global warming (climate change) are expected to impact developing countries more than wealthier countries, as most of them have a high "climate vulnerability".The Sustainable Development Goals, by the United Nations, were set up to help overcome many of these problems. Development aid or development cooperation is financial aid given by governments and other agencies to support the economic, environmental, social and political development of developing countries.Economy of Sierra Leone
The economy of Sierra Leone is that of a least developed country with a GDP of approximately 1.9 billion USD in 2009. Since the end of the civil war in 2002 the economy is gradually recovering with a GDP growth rate between 4 and 7%. In 2008 its GDP in PPP ranked between 147th (World Bank) and 153rd (CIA) largest in the world.Sierra Leone's economic development has always been hampered by an overdependence on mineral exploitation. Successive governments and the population as a whole have always believed that "diamonds and gold" are sufficient generators of foreign currency earnings and lure for investment.
As a result, large scale agriculture of commodity products, industrial development and sustainable investments have been neglected by governments. The economy could thus be described as one which is "exploitative" - a rentier state - and based upon the extraction of unsustainable resources or non-reusable assets.
Two-thirds of the population of Sierra Leone are directly involved in subsistence agriculture. Agriculture accounted for 58 percent national Gross Domestic Product (GDP) in 2007.Economy of Slovenia
Slovenia today is a developed country that enjoys prosperity and stability as well as a GDP per capita by purchase power parity at 83% of the EU28 average in 2015, which is the same as in 2014 and 2 percentage points higher than in 2013. Nominal GDP in 2018 is 42.534 mio EUR, nominal GDP per capita (GDP/pc) in 2018 is EUR 21,267. The highest GDP/pc is in central Slovenia, where capital city Ljubljana is located, which is part of the Western Slovenia statistical region, which has a higher GDP/pc than eastern Slovenia.It January 2007 it became the first member to have both joined the European Union and adopted the euro since the currency's creation in 1999 and it has been a member of the Organisation for Economic Co-operation and Development since 2010.Slovenia has a highly educated workforce, well-developed infrastructure, and is situated at a major transport crossroad. On the other hand, the level of foreign direct investment is one of the lowest but has been steadily rising in the last few years. Slovenian economy has been severely hurt by the European economic crisis, which started in late 2000s. After 2013 GDP per capita is rising again. Almost two thirds of the working population are employed in services.Energy in Switzerland
The energy sector in Switzerland is, by its structure and its importance, typical of a developed country. Apart from the hydro and biomass, the country has few indigenous energy resources: petroleum, gas and nuclear fuel are imported, so that in 2006 only 15% of final requirements have been covered by local resources.Female sex tourism
Female sex tourism is sex tourism by women who travel intending to engage in sexual activities with one or more locals, usually male sex workers. Female sex tourists may seek aspects of the sexual relationship not shared by male sex tourists, such as perceived romance and intimacy. Women who fit this profile – especially wealthy, single, older white women – plan their holidays to have romance and sex with a companion who knows how to make them feel special and give them attention. The prevalence of female sex tourism is significantly lower than male sex tourism.Female sex tourism occurs in diverse regions of the world. The demographics of female sex tourism vary by destination, but in general female sex tourists are usually classified as women from a developed country, who travel to less developed countries in search of romance or sexual outlets.Female sex tourists can be grouped into three types:
Traditional sex tourists, who have similar characteristics and motives as male sex tourists.
Situational sex tourists, who do not intentionally put themselves in a sex tourist position, but find themselves involved in a sexual encounter with local men. Situational sex tourists may fall into the category of either being businesswomen, students, women in overseas conferences or other women who have different agendas that are non-sexual.
Romance tourists, who plan to fulfil their travel with romantic experiences that they cannot experience in their native country.With this movement of different populations to different countries, problems concerning health increase, especially ailments involving sexually transmitted infections (STIs) and HIV/AIDS. Women involved with sex tourism do not find themselves using barrier contraceptives during the majority of their visit, leaving them unprotected against STIs.Health in Italy
Italy is known for its generally very good health system, considering the fact that it has the world's 6th highest life expectancy in 2015 (according to World Health Organization), low infant mortality, relatively healthy cuisine and diet, and healthcare system that is ranked 2nd according to World Health Organization and which has the third best medical performance worldwide. As with any developed country, Italy has adequate and sufficient water and food distribution, and levels of nutrition and sanitation are high.International development
For other forms of development, see Development (disambiguation).
International development or global development is a broad concept denoting the idea that societies and countries have differing levels of 'development' on an international scale. It is the basis for international classifications such as developed country, developing country and least developed country, and for a field of practice and research that in various ways engages with international development processes. There are, however, many schools of thought and conventions regarding which are the exact features constituting the 'development' of a country.
Historically, development has often been largely synonymous with economic development. More recently, writers and practitioners have begun to discuss development in the more holistic and multi-disciplinary sense of human development. Other related concepts are, for instance, competitiveness, quality of life or subjective well-being.'International development' is different from the simple concept of 'development'. Whereas the latter, at its most basic, denotes simply the idea of change through time, international development has come to refer to a distinct field of practice, industry, and research; the subject of university courses and professional categorisations. It remains closely related to the set of institutions - especially the Bretton Woods Institutions - that arose after the Second World War with a focus on economic growth, alleviating poverty, and improving living conditions in previously colonised countries. The international community has codified development aims in, for instance, the Millennium Development Goals and Sustainable Development Goals.Least Developed Countries
The Least Developed Countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971.A country is classified among the Least Developed Countries if it meets three criteria:
Poverty – adjustable criterion based on GNI per capita averaged over three years. As of 2018 a country must have GNI per capita less than US$1,025 to be included on the list, and over $1,230 to graduate from it.
Human resource weakness (based on indicators of nutrition, health, education and adult literacy).
Economic vulnerability (based on instability of agricultural production, instability of exports of goods and services, economic importance of non-traditional activities, merchandise export concentration, handicap of economic smallness, and the percentage of population displaced by natural disasters).As of 2018, 47 countries are classified as LDC, while five have been upgraded between 1994 and 2017.List of companies of Brunei
Brunei is a sovereign state located on the north coast of the island of Borneo in Southeast Asia. Apart from its coastline with the South China Sea, the country is completely surrounded by the state of Sarawak, Malaysia. Economic growth during the 1990s and 2000s, with the GDP increasing 56% from 1999 to 2008, transformed Brunei into an industrialised country. It has developed wealth from extensive petroleum and natural gas fields. Brunei has the second-highest Human Development Index among the Southeast Asian nations, after Singapore, and is classified as a "developed country". According to the International Monetary Fund (IMF), Brunei is ranked fifth in the world by gross domestic product per capita at purchasing power parity. The IMF estimated, in 2011, that Brunei was one of two countries (the other being Libya) with a public debt at 0% of the national GDP. Forbes also ranks Brunei as the fifth-richest nation out of 182, based on its petroleum and natural gas fields.List of companies of Spain
Spain is a sovereign state located on the Iberian Peninsula in southwestern Europe. It is a middle power and a major developed country with the world's fourteenth largest economy by nominal GDP and sixteenth largest by purchasing power parity. It is a member of the United Nations (UN), the European Union (EU), the Eurozone, the Council of Europe (CoE), the Organization of Ibero-American States (OEI), the North Atlantic Treaty Organization (NATO), the Organisation for Economic Co-operation and Development (OECD), the Schengen Area, the World Trade Organization (WTO) and many other international organisations. Spain has a "permanent invitation" to the G20 summits that occur generally once a year.
For further information on the types of business entities in this country and their abbreviations, see "Business entities in Spain".Luxembourg
Luxembourg ( (listen); Luxembourgish: Lëtzebuerg [ˈlətsəbuə̯ɕ] (listen); French: Luxembourg; German: Luxemburg), officially the Grand Duchy of Luxembourg, is a small landlocked country in western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France to the south. Its capital, Luxembourg City, together with Brussels and Strasbourg, is one of the three official capitals of the European Union and the seat of the European Court of Justice, the highest judicial authority in the EU. Its culture, people, and languages are highly intertwined with its neighbours, making it essentially a mixture of French and German cultures, as evident by the nation's three official languages: French, German, and the national language, Luxembourgish (sometimes considered a dialect of German). The repeated invasions by Germany, especially in World War II, resulted in the country's strong will for mediation between France and Germany and, among other things, led to the foundation of the European Union.With an area of 2,586 square kilometres (998 sq mi), it is one of the smallest sovereign states in Europe. In 2016, Luxembourg had a population of 576,249, which makes it one of the least-populous countries in Europe, but by far the one with the highest population growth rate. Foreigners account for nearly half of Luxembourg's population. As a representative democracy with a constitutional monarch, it is headed by Grand Duke Henri and is the world's only remaining grand duchy. Luxembourg is a developed country, with an advanced economy and one of the world's highest GDP (PPP) per capita. The City of Luxembourg with its old quarters and fortifications was declared a UNESCO World Heritage Site in 1994 due to the exceptional preservation of the vast fortifications and the old city.The history of Luxembourg is considered to begin in 963, when count Siegfried I acquired a rocky promontory and its Roman-era fortifications known as Lucilinburhuc, ′little castle′, and the surrounding area from the Imperial Abbey of St. Maximin in nearby Trier.
Siegfried's descendants increased their territory through marriage, war and vassal relations. At the end of the 13th century, the Counts of Luxembourg reigned over a considerable territory.
In 1308, Henry VII, Count of Luxembourg became King of the Germans and Holy Roman Emperor. The House of Luxembourg produced four Holy Roman Emperors during the high Middle Ages. In 1354, Charles IV elevated the County to the Duchy of Luxembourg. Since Sigismund had no male heir, the Duchy became part of the Burgundian Circle and then one of the Seventeen Provinces of the Habsburg Netherlands.
Over the centuries, the City and Fortress of Luxembourg, of great strategic importance situated between the Kingdom of France and the Habsburg territories, was gradually built up to be one of the most reputed fortifications in Europe. After belonging to both the France of Louis XIV and the Austria of Maria Theresia, Luxembourg became part of the First French Republic and Empire under Napoleon.The present-day state of Luxembourg first emerged at the Congress of Vienna in 1815. The Grand-Duchy, with its powerful fortress, became an independent state under the personal possession of William I of the Netherlands with a Prussian garrison to guard the city against another invasion from France.
In 1839, following the turmoil of the Belgian Revolution, the purely French-speaking part of Luxembourg was ceded to Belgium and the Luxembourgish-speaking part (except the Arelerland, the area around Arlon) became what is the present state of Luxembourg.
Luxembourg is a founding member of the European Union, OECD, United Nations, NATO, and Benelux. The city of Luxembourg, which is the country's capital and largest city, is the seat of several institutions and agencies of the EU. Luxembourg served on the United Nations Security Council for the years 2013 and 2014, which was a first in the country's history. As of 2018, Luxembourgish citizens had visa-free or visa-on-arrival access to 186 countries and territories, ranking the Luxembourgish passport 5th in the world, tied with Austria, the Netherlands, Norway, Portugal, the United Kingdom and the United States.New Zealand
New Zealand (Māori: Aotearoa [aɔˈtɛaɾɔa]) is a sovereign island country in the southwestern Pacific Ocean. The country geographically comprises two main landmasses—the North Island (Te Ika-a-Māui), and the South Island (Te Waipounamu)—and around 600 smaller islands. New Zealand is situated some 2,000 kilometres (1,200 mi) east of Australia across the Tasman Sea and roughly 1,000 kilometres (600 mi) south of the Pacific island areas of New Caledonia, Fiji, and Tonga. Because of its remoteness, it was one of the last lands to be settled by humans. During its long period of isolation, New Zealand developed a distinct biodiversity of animal, fungal, and plant life. The country's varied topography and its sharp mountain peaks, such as the Southern Alps, owe much to the tectonic uplift of land and volcanic eruptions. New Zealand's capital city is Wellington, while its most populous city is Auckland.
Sometime between 1250 and 1300, Polynesians settled in the islands that later were named New Zealand and developed a distinctive Māori culture. In 1642, Dutch explorer Abel Tasman became the first European to sight New Zealand. In 1840, representatives of the United Kingdom and Māori chiefs signed the Treaty of Waitangi, which declared British sovereignty over the islands. In 1841, New Zealand became a colony within the British Empire and in 1907 it became a dominion; it gained full statutory independence in 1947 and the British monarch remained the head of state. Today, the majority of New Zealand's population of 4.9 million is of European descent; the indigenous Māori are the largest minority, followed by Asians and Pacific Islanders. Reflecting this, New Zealand's culture is mainly derived from Māori and early British settlers, with recent broadening arising from increased immigration. The official languages are English, Māori, and NZ Sign Language, with English being very dominant.
A developed country, New Zealand ranks highly in international comparisons of national performance, such as quality of life, health, education, protection of civil liberties, and economic freedom. New Zealand underwent major economic changes during the 1980s, which transformed it from a protectionist to a liberalised free-trade economy. The service sector dominates the national economy, followed by the industrial sector, and agriculture; international tourism is a significant source of revenue. Nationally, legislative authority is vested in an elected, unicameral Parliament, while executive political power is exercised by the Cabinet, led by the Prime Minister, who is currently Jacinda Ardern. Queen Elizabeth II is the country's head of state and is represented by a governor-general, currently Dame Patsy Reddy. In addition, New Zealand is organised into 11 regional councils and 67 territorial authorities for local government purposes. The Realm of New Zealand also includes Tokelau (a dependent territory); the Cook Islands and Niue (self-governing states in free association with New Zealand); and the Ross Dependency, which is New Zealand's territorial claim in Antarctica. New Zealand is a member of the United Nations, Commonwealth of Nations, ANZUS, Organisation for Economic Co-operation and Development, ASEAN Plus Six, Asia-Pacific Economic Cooperation, and the Pacific Islands Forum.New international division of labour
In economics, the new international division of labor (NIDL) is an outcome of globalization. The term was coined by theorists seeking to explain the spatial shift of manufacturing industries from advanced capitalist countries to developing countries—an ongoing geographic reorganization of production, which finds its origins in ideas about a global division of labor. It is a spatial division of labor which occurs when the process of production is no longer confined to national economies. Under the "old" international division of labor, until around 1970, underdeveloped areas were incorporated into the world economy principally as suppliers of minerals and agricultural commodities. However, as developing economies are merged into the world economy, more production takes place in these economies.This has led to a trend of transference, or what is also known as the "global industrial shift", in which production processes are relocated from developed countries (such as the US, European countries, and Japan) to developing countries in Asia (such as China, Vietnam, and India) and Latin America. This is because companies search for the cheapest locations to manufacture and assemble components, so low-cost labor-intensive parts of the manufacturing process are shifted to the developing world where costs are substantially lower. Companies do so by taking advantage of transportation and communications technology, as well as fragmentation and locational flexibility of production. From 1953 to the late 1990s, the industrialized economies' share of world manufacturing output declined from 95% to 77%, and the developing economies' share more than quadrupled from 5% to 23%.
The resultant division of labor across continents closely follows the North–South socio-economic and political divide, where in the North—with one quarter of the world population—controls four fifths of the world income, while the South—with three quarters of the world population—has access to one fifth of the world income.A summary
The NIDL is a spatial division of labor due to cut ties with national economies. Underdeveloped economies used to be incorporated with the world economy as suppliers of minerals and agricultural commodities. It has since added more production to these types of economies. With this, a "global industrial shift" occurs, meaning that production processes are relocated from developed countries to developing countries. Companies need a low cost location in order to manufacture and assemble products. Developing countries are able to produce at substantially lower prices than a developed country would.
In the NIDL, the north controls about 4/5 of the world's income while the south controls about 1/5.Reverse brain drain
Reverse brain drain is a form of brain drain where human capital moves in reverse from a more developed country to a less developed country that is developing rapidly. These migrants may accumulate savings, also known as remittances, and develop skills overseas that can be used in their home country.Brain drain can occur when scientists, engineers, or other intellectual elites migrate to a more developed country to learn in its universities, perform research, or gain working experience in areas where education and employment opportunities are limited in their home country. These professionals then return to their home country after several years of experience to start a related business, teach in a university, or work for a multi-national in their home country. Their return is this "Reverse Brain Drain".
The occurrence of reverse brain drain mostly depends on the state of the country's development, and also strategies and planning over a long period of time to reverse the migration. Countries that are attractive to returning intelligentsia will naturally develop migration policies to attract foreign academics, professionals and executives. This would also require these countries to develop an environment which will provide rewarding opportunities for those who have attained the knowledge and skills from overseas.In the past, many of the immigrants from developing countries chose to work and live permanently in developed countries; however, the recent economic growth that has been occurring back in their home countries—and the difficulty of attaining long-term work visas—has caused many of the immigrants to return home.The World Factbook list of developed countries
In an appendix to the CIA The World Factbook, there is an entry identifying developed countries (DCs). This list of DCs is identical to the list in The World Factbook published as early as 1991.The CIA notes that the DCs form
the top group in the hierarchy of developed countries (DCs), former USSR/Eastern Europe (former USSR/EE), and less developed countries (LDCs);The CIA argues that this list
includes the market-oriented economies of the mainly democratic nations in the Organisation for Economic Co-operation and Development (OECD).However, ten new countries have joined the OECD since this list was created in the early 1990s: India (1994), the Czech Republic (1997), South Korea (1996), Hungary (1996), Poland (1996), Slovakia (2000), Chile (2010), Slovenia (2010), Israel (2010) and Estonia (2010).
The CIA argues that the countries in its list are
also known as the First World, high-income countries, the North, industrial countries;The CIA notes that these countries
generally have a per capita GDP in excess of $15,000; although four OECD countries and South Africa have figures well under $15,000; and eight of the excluded OPEC countries have figures of more than $20,000.These descriptions are based on 2010 GDP per capita figures. As of 2017, four members of the OECD have a GDP per capita of less than $15,000 in nominal terms (Poland, Hungary, Turkey and Mexico) and, as of 2017, five OPEC countries have a GDP per capita that is higher than $20,000 (Qatar, Kuwait, Bahrain, UAE and Saudi Arabia).
The CIA notes that the 25 DCs are as follows:
United StatesThe CIA concludes its definition with the note that this list is
similar to the new International Monetary Fund (IMF) term "advanced economies" that adds Hong Kong, South Korea, Singapore, and Taiwan; but drops Malta, Mexico, South Africa, Turkey.This description is based on an old version of the IMF's list and also erroneously implies that Mexico is on the CIA's Developed Country (DC) list. In the same way, the new IMF's list also includes Malta, the Czech Republic, Slovakia, Estonia, Lithuania and Latvia among "advanced economies".World Bank high-income economy
A high-income economy is defined by the World Bank as a country with a gross national income per capita US$12,056 or more in 2017, calculated using the Atlas method. While the term "high-income" is often used interchangeably with "First World" and "developed country", the technical definitions of these terms differ. The term "first world" commonly refers to countries that aligned themselves with the U.S. and NATO during the Cold War. Several institutions, such as the Central Intelligence Agency (CIA) or International Monetary Fund (IMF), take factors other than high per capita income into account when classifying countries as "developed" or "advanced economies". According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. Although the Holy See is a sovereign state, it is not classified by the World Bank under this definition.