Standard Of Living By Country

The emerging story of the global standard of living index is a mirror that reflects the ever-evolving socio-economic trends, uncovering the varying degrees of human development witnessed across the world. A comprehensive tool we often refer to in this conversation is the Human Development Index (HDI), a statistical measure developed by the United Nations that assesses the social and economic development levels of countries.

The United States, a major player on this global platform, boasts a commendable HDI figure of 0.921, ranking it among the top countries globally. However, even as the U.S. claims its place in the higher echelons, a detailed cross-country examination reveals some fascinating insights.

Key findings from the data include:

• The nations leading the international scale in terms of high HDI figures include Switzerland (0.962), Norway (0.961), and Iceland (0.959), underscoring their highly developed healthcare, income levels, and educational standards.
• High-tier countries with comparable HDI to the US - nestled in the 0.9 and above region - are UK (0.929), Japan (0.925), and South Korea (0.925). These nations have shown robust growth and development, translating to high living standards for their citizens.
• At the other end of the spectrum, countries like South Sudan (0.385), Chad (0.394), and Niger (0.400) fall towards the bottom of the index, indicating serious developmental challenges that their populace grapple with every day.
• It's also noteworthy that developing nations like India (0.633) and China (0.768) have shown promising progress over years, signaling enhanced living standards for their massive population.
• Countries like Iceland and New Zealand, despite their smaller size and population, have managed to consistently secure high positions, lending valuable insights into how, irrespective of size and populous, nations can level up their standard of living through strategic policy-making and developmental projects.

To sort the data in the table, click on the column headers.

Year: 2021

Source: Human Development Index - UNDP Human Development Reports