Thomas C. Frohlich et al., MSN, December 30, 2016
The development of a nation is often conflated with economic growth. However, while economic strength is certainly a country’s means of development, is it what ultimately determines how developed that country is? According to the United Nations’ Human Development Index (HDI), other factors such as human freedom should be the key in quantifying and evaluating development.
Based on the 2015 HDI, 24/7 Wall St. reviewed the most and least livable countries. Data from the Index is based on three dimensions of human progress: longevity, education, and financial stability. As was the case last year, Norway is the most livable country in the world, while Niger is the least livable.
A decent income can have a tremendous impact on standard of living. Healthy food, access to exercise facilities, insurance, and the education necessary to increase one’s position in life all have monetary costs. The U.N. used gross national income in its calculation of the HDI to reflect the standard of living in a country. In the most developed countries, gross income per capita is generally quite high. All of the world’s 10 most livable countries have among the top 30 gross national incomes per person. The top rated country, Norway, has the world’s sixth highest gross national income per capita of $63,909.
[Editor’s Note: A slideshow with the full rankings is available at the original article link below.]