50 Best Countries in the World - InvestingChannel

50 Best Countries in the World

In this article, we will look into the 50 best countries in the world. If you want to skip our detailed analysis, you can go directly to the 10 Best Countries in the World.

The Best Country: A Multifaceted Concept

In today’s digital and advanced era, many factors contribute to the concept of a “best country”. Factors such as high living standards, economic prosperity, effective governance, social progress, technological advancement, and a welcoming immigration landscape are some major factors contributing to the multifaceted definition of “best countries”.

According to the latest economic report by the IMF, The global economy is expected to grow at a rate of 3.1% in 2024 and by 3.2% in 2025. The recent forecasts by the IMF presented improved growth prospects, driven by strong performance exhibited by the US and several other countries. Inflation is anticipated to decline faster and reach 5.8% in 2024, and 4.4% in 2025. China and the United States are the top countries boasting the highest GDPs of $35.4 trillion and $27.9 trillion respectively. The countries boast robust markets, contributing significantly to their economies. These countries are also forecasted to become the largest economies in the world by 2100.

Quality of Life

The quality of life is a major aspect of a country’s desirability. Good healthcare, education, inclusivity, gender equality, and economic well-being are some of the major factors contributing to the high quality of life. Recent advancements and innovations in healthcare are expected to increase life expectancy in many countries, subsequently improving the health and well-being of its residents. According to a report by the McKinsey Institute of Health, nearly 6 years of life per person could be added to the life expectancy in the coming decades. The report further states that many countries have experienced significant improvement in their health and wellbeing such as Ireland and Thailand. Both countries have gained 3 and 4.5 years in their life expectancies. As we mentioned before in our article about the 30 countries with the highest standard of living, the past few decades experienced significant improvement in overall quality of life, evidenced by the high average household income of $28,000 and median wealth of $162,000 of the OECD countries. Factors such as improved economic prospects, high employment rates, and affordable costs of living are contributing to the high living standards. Some of the top countries with the highest living standards include the United States, Switzerland, and the UAE among others.

The immigration prospects of a country also provide insights into its cultural diversity, living standards, and economic opportunities. Countries such as the US, Germany, and Saudi Arabia are the top countries with the most immigrants, hosting millions of both authorized and unauthorized foreign-born individuals. Saudi Arabia and the UAE attract a substantially higher number of immigrants in the Middle East, majorly for labor purposes. According to the International Organization for Migration, around 113.9 million migrant workers reside in high-income countries, accounting for a total of 67% of the total immigrant population. Whereas, the number of migrant workers in middle-income and low-income countries is 29% and 3.6%, respectively.

Business in the Best Countries of the World

A favorable environment for investment and business growth is another factor that makes a country the best, contributing to its economy and overall living standard. Some of the major companies driving innovation in the best countries of the world include Microsoft Corporation (NASDAQ:MSFT), SAP SE (NYSE:SAP), and Linde plc (NASDAQ:LIN).

Microsoft Corporation (NASDAQ:MSFT) is a global market leader, boasting a market cap of $3.02 trillion, as of February 28. On January 30, the company released its earnings for the fiscal second quarter of 2024. The company reported an EPS of $2.93 and beat estimates by $0.16. The company reported a revenue of $62.02 billion for the quarter, surpassing forecasts by $890.6 million. Its revenue for the quarter grew by 17.58%. As of February 28, Microsoft Corporation’s (NASDAQ:MSFT) stock has surged more than 25% over the past six months.

SAP SE (NYSE:SAP) is a multinational software company, headquartered in Germany. On February 13, the company announced the launch of SAP S/4HANA and SAP BW/4HANA solutions, at the leading company providing mass-capacity data storage solutions, Seagate Technology Holdings plc (NASDAQ:STX). The new solutions will modernize the ERP system of the company, benefitting around 30,000 global employees. This is the third significant phase of Seagate Technology Holdings plc’s (NASDAQ: STX) digital transformation by SAP SE (NYSE:SAP).

Linde plc (NASDAQ:LIN) is a multinational chemical and engineering company. On January 30, the company announced that it had started supplying captured carbon dioxide and clean hydrogen to the leading chemical company, Celanese Corporation (NYSE:CE). The company will utilize it to create methanol. This collaboration expands on the existing agreement between Linde plc (NASDAQ:LIN) and Celanese Corporation (NYSE:CE) to reduce their carbon footprint.

Now, let’s have a look at the 50 best countries in the world.

50 Best Countries in the World 50 Best Countries in the World

Methodology

For our list of the best countries in the world, we defined the best country as one that has advanced technology, presents robust economic opportunities, and focuses on providing a high-quality living standard to its residents. A country with such attributes is also considered desirable for immigrants. The high number of immigrants moving to a country can be considered as a potential factor of its diverse cultures, quality of life, and overall economy.

To address these factors, we employed four metrics, Human Development Index (HDI), R&D Expenditure, GDP (PPP), and International Migrant Stock. International Migrant Stock is the number of international migrants in a country. Firstly, we sorted our countries based on their HDI and collated a list of 80 countries. Then, we sorted our countries based on our metrics and assigned ranks to the countries. Then. we calculate the final score by allocating weights to the ranks of our metrics, as 20% to HDI, 40% to GDP (PPP), 20% to R&D Expenditure, and 20% to International Migrant Stock. Finally, we ranked countries in descending order of their calculated score.

Note: We have ranked the United States as the top country on our list of the 50 best countries in the world, as it is the most innovative country in the world, and also has the highest number of immigrants in the world. The country possesses a strong economy and provides a high quality of life to its residents.

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.

50 Best Countries in the World

50. Serbia

Human Development Index (2021): 0.802

R&D Expenditure as a Percentage of GDP (2021): 0.99%

GDP PPP (2024): $182.3 billion

International Migrant Stock (2020): 823,011

Insider Monkey Score: 45.0

Serbia is ranked among our list of the 50 best countries in the world. In 2021, the country had an HDI of 0.802. The country boasts a GDP of $182.3 billion, as of 2024. The number of foreign-born people in the country is 823,011. The country spent a total of 0.99% of its GDP on research and development in 2021.

49. Lithuania

Human Development Index (2021): 0.875

R&D Expenditure as a Percentage of GDP (2021): 1.11%

GDP PPP (2024): $144.2 billion

International Migrant Stock (2020): 145,184

Insider Monkey Score: 44.6

Lithuania ranks 49th on our list. As of 2024, the country has a GDP of $144.2 billion. In 2021, the country had a human development index of 0.875. In 2020, the country had 145,184 foreign-born people. The R&D expenditure of the country was 1.11% of its GDP in 2021.

48. Belarus

Human Development Index (2021): 0.808

R&D Expenditure as a Percentage of GDP (2021): 0.46%

GDP PPP (2024): $229.2 billion

International Migrant Stock (2020): 1 million

Insider Monkey Score: 44.0

Belarus is one of the best countries in the world. It boasts a GDP of $229.2 billion. In 2021, the HDI of the country was 0.808. It spent 0.46% of its GDP on research and development in 2021. In 2020, the number of foreign-born people in the country was 1 million.

47. Slovakia

Human Development Index (2021): 0.848

R&D Expenditure as a Percentage of GDP (2021): 0.92%

GDP PPP (2024): $240.6 billion

International Migrant Stock (2020): 197,161

Insider Monkey Score: 43.2

Slovakia boasts a GDP of $240.6 billion, as of 2024. In 2021, the country had a human development index of 0.848. The country had an international migrant stock of 197,161 in 2020. The R&D expenditure of the country was 0.92% of its GDP in 2021.

46. Estonia

Human Development Index (2021): 0.890

R&D Expenditure as a Percentage of GDP (2021): 1.75%

GDP PPP (2024): $63.8 billion

International Migrant Stock (2020): 199,277

Insider Monkey Score: 42.8

Estonia is ranked among the 50 best countries in the world. In 2021, the country had an HDI of 0.890. The country boasts a GDP of $63.8 billion, as of 2024. The number of foreign-born people in the country was 199,277 in 2020. The country spent a total of 1.75% of its GDP on research and development in 2021.

45. Oman

Human Development Index (2021): 0.816

R&D Expenditure as a Percentage of GDP (2014): 0.1%

GDP PPP (2024): $210.3 billion

International Migrant Stock (2020): 2.4 million

Insider Monkey Score: 42.8

Ranked 45th on our list, Oman has a GDP of $210.3 billion as of 2024. In 2021, the HDI of the country was 0.816. The number of foreign-born people in the country was 2.4 million in 2020.

44. Croatia

Human Development Index (2021): 0.858

R&D Expenditure as a Percentage of GDP (2021): 1.24%

GDP PPP (2024): $172.7 billion

International Migrant Stock (2020): 528,056

Insider Monkey Score: 42.0

Croatia ranks 44th on our list. As of 2024, the country has a GDP of $172.7 billion. In 2021, the country had a human development index of 0.858. The country had an international migrant stock of 528,056 in 2020. The R&D expenditure of the country was 1.24% of its GDP in 2021.

43. Luxembourg

Human Development Index (2021): 0.930

R&D Expenditure as a Percentage of GDP (2021): 1.04%

GDP PPP (2024): $97.7 billion

International Migrant Stock (2020): 298,602

Insider Monkey Score: 41.4 

Luxembourg is ranked 43rd on our list of the best countries in the world. In 2021, the country had an HDI of 0.930. The country boasts a GDP of $97.7 billion, as of 2024. The number of foreign-born people in the country is 298,602. The country spent a total of 1.04% of its GDP on research and development in 2021.

42. Kuwait

Human Development Index (2021): 0.831

R&D Expenditure as a Percentage of GDP (2020): 0.19%

GDP PPP (2024): $271.8 billion

International Migrant Stock (2020): 3.1 million

Insider Monkey Score: 40.4

Kuwait is one of the best countries in the world. It boasts a GDP of $271.8 billion. In 2021, the HDI of the country was 0.831. It spent 0.19% of its GDP on research and development in 2020. The number of foreign-born people in the country was 3.1 million in 2020.

41. Iceland

Human Development Index (2021): 0.959

R&D Expenditure as a Percentage of GDP (2021): 2.81%

GDP PPP (2024): $28.17 billion

International Migrant Stock (2020): 65,424

Insider Monkey Score: 39.8

Iceland has a GDP of $28.17 billion, as of 2024. In 2021, the country had a human development index of 0.959. The country had an international migrant stock of 65,424 in 2020. The R&D expenditure of the country was 2.81% of its GDP in 2021.

40. Slovenia

Human Development Index (2021): 0.918

R&D Expenditure as a Percentage of GDP (2021): 2.13%

GDP PPP (2024): $113.6 billion

International Migrant Stock (2020): 277,964

Insider Monkey Score: 37.6

Slovenia is ranked among the 50 best countries in the world. In 2021, the country had an HDI of 0.918. The country boasts a GDP of $113.6 billion, as of 2024. The number of foreign-born people in the country was 277,964 in 2020. The country spent a total of 2.13% of its GDP on research and development in 2021.

39. Qatar

Human Development Index (2021): 0.855

R&D Expenditure as a Percentage of GDP (2021): 0.68%

GDP PPP (2024): $342.8 billion

International Migrant Stock (2020): 2.2 million

Insider Monkey Score: 37.2

Ranked 39th on our list, Qatar has a GDP of $342.8 billion as of 2024. In 2021, the HDI of the country was 0.855. Qatar had 2.2 million foreign-born people in 2020. The country had a research and development spending of 0.68% in 2021.

38. Chile

Human Development Index (2021): 0.855

R&D Expenditure as a Percentage of GDP (2020): 0.33%

GDP PPP (2024): $620.8 billion

International Migrant Stock (2020): 1.6 million

Insider Monkey Score: 36.2

Chile ranks 38th on our list. As of 2024, the country has a GDP of $620.8 billion. In 2021, the country had a human development index of 0.855. The country reported an international migrant stock of 1.6 million in 2020. The R&D expenditure of the country was 0.33% of its GDP in 2020.

37. Romania

Human Development Index (2021): 0.821

R&D Expenditure as a Percentage of GDP (2021): 0.47%

GDP PPP (2024): $828.7 billion

International Migrant Stock (2020): 705,310

Insider Monkey Score: 36.0

Romania has a GDP of $828.7 billion as of 2024. In 2021, the HDI of the country was 0.821. In 2020, Romania had 705,310 foreign-born people. Its R&D expenditure was 0.47% of its GDP in 2021.

36. Kazakhstan

Human Development Index (2021): 0.811

R&D Expenditure as a Percentage of GDP (2021): 0.13%

GDP PPP (2024): $696.9 billion

International Migrant Stock (2020): 3.7 million

Insider Monkey Score: 35.8

Kazakhstan is ranked among the 50 best countries in the world. In 2021, the country had an HDI of 0.811. The country boasts a GDP of $696.9 billion, as of 2024. The number of foreign-born people in the country was 3.7 million in 2020. The country spent a total of 0.13% of its GDP on research and development in 2021.

35. Hungary

Human Development Index (2021): 0.846

R&D Expenditure as a Percentage of GDP (2021): 1.64%

GDP PPP (2024): $444.6 billion

International Migrant Stock (2020): 584,567

Insider Monkey Score: 35.8

Hungary is one of the best countries in the world. It boasts a GDP of $444.6 billion. In 2021, the HDI of the country was 0.846. It spent 1.64% of its GDP on research and development in 2021. In 2020, Hungary had 584,567 foreign-born people.

34. Greece

Human Development Index (2021): 0.887

R&D Expenditure as a Percentage of GDP (2021): 1.46%

GDP PPP (2024): $434.8 billion

International Migrant Stock (2020): 1.3 million

Insider Monkey Score: 32.2

Ranked 34th on our list, Greece has a GDP of $434.8 billion as of 2024. In 2021, the HDI of the country was 0.887. The number of foreign-born people in the country was 1.3 million in 2020. In 2021, it spent 1.46% of its GDP on R&D.

33. Portugal

Human Development Index (2021): 0.866

R&D Expenditure as a Percentage of GDP (2021): 1.68%

GDP PPP (2024): $482.8 billion

International Migrant Stock (2020): 1.0 million

Insider Monkey Score: 31.6

Portugal has a GDP of $482.8 billion. In 2021, the country had a human development index of 0.866. The country had 1 million foreign-born people in 2020. The R&D expenditure of the country was 1.68% of its GDP in 2021. It ranks 33rd on our list.

32. Czechia

Human Development Index (2021): 0.889

R&D Expenditure as a Percentage of GDP (2021): 2%

GDP PPP (2024): $564.2 billion

International Migrant Stock (2020): 540,921

Insider Monkey Score: 30.8

Czechia is ranked among the best countries in the world. In 2021, the country had an HDI of 0.889. The country boasts a GDP of $564.2 billion, as of 2024. The number of foreign-born people in the country was 540,921 in 2020. The country spent a total of 2% of its GDP on research and development in 2021.

31. Argentina

Human Development Index (2021): 0.842

R&D Expenditure as a Percentage of GDP (2021): 0.52%

GDP PPP (2024): $1.3 trillion

International Migrant Stock (2020): 2.2 million

Insider Monkey Score: 30.4

Argentina has a GDP of $1.3 trillion as of 2024. In 2021, the HDI of the country was 0.842. The number of foreign-born people in the country was 2.2 million in 2020. It is ranked 31st on our list

30. Iran

Human Development Index (2021): 0.774

R&D Expenditure as a Percentage of GDP (2019): 0.79%

GDP PPP (2024): $1.8 trillion

International Migrant Stock (2020): 2.8 million

Insider Monkey Score: 29.8

Ranked 30th on our list, Iran has a GDP of $1.8 trillion as of 2024. In 2021, the HDI of the country was 0.774. The number of foreign-born people in the country was 2.8 million in 2020.

29. New Zealand

Human Development Index (2021): 0.937

R&D Expenditure as a Percentage of GDP (2021): 1.45%

GDP PPP (2024): $288.4 billion

International Migrant Stock (2020): 1.38 million

Insider Monkey Score: 29.8

New Zealand ranks 29th on our list. As of 2024, the country has a GDP of $288.4 billion. In 2021, the country had a human development index of 0.937. The country had an international migrant stock of 1.38 million in 2020. The R&D expenditure of the country was 1.45% of its GDP in 2o21.

28. Malaysia

Human Development Index (2021): 0.803

R&D Expenditure as a Percentage of GDP (2020): 0.95%

GDP PPP (2024): $1.3 trillion

International Migrant Stock (2020): 3.5 million

Insider Monkey Score: 29.2

Malaysia is ranked among the best countries in the world. In 2021, the country had an HDI of 0.803. The country has a GDP of $1.3 trillion, as of 2024. The number of foreign-born people in the country was 3.5 million in 2020. The country spent a total of 0.95% of its GDP on research and development in 2020.

27. Finland

Human Development Index (2021): 0.940

R&D Expenditure as a Percentage of GDP (2021): 2.99%

GDP PPP (2024): $346.9 billion 

International Migrant Stock (2020): 386,052

Insider Monkey Score: 27.8

Finland ranks 27th on our list. As of 2024, the country has a GDP of $346.9 billion. In 2021, the country had a human development index of 0.940. The country had an international migrant stock of 386,052. The R&D expenditure of the country was 2.99% of its GDP in 2021.

26. Thailand

Human Development Index (2021): 0.800

R&D Expenditure as a Percentage of GDP (2020): 1.33%

GDP PPP (2024): $1.67 trillion

International Migrant Stock (2020): 3.6 million

Insider Monkey Score: 27.6

Thailand is one of the best countries in the world. It boasts a GDP of $1.67 trillion. In 2021, the HDI of the country was 0.8. It spent 1.33% of its GDP on research and development in 2020. Thailand had 3.6 million foreign-born people in 2020.

25. Poland

Human Development Index (2021): 0.876

R&D Expenditure as a Percentage of GDP (2021): 1.44%

GDP PPP (2024): $1.8 trillion

International Migrant Stock (2020): 817,254

Insider Monkey Score: 25.8

Poland ranks 25th on our list. As of 2024, the country has a GDP of $1.8 trillion. In 2021, the country had a human development index of 0.876. The country has an international migrant stock of 817,254. The R&D expenditure of the country was 1.44% of its GDP in 2021.

24. Ireland

Human Development Index (2021): 0.945

R&D Expenditure as a Percentage of GDP (2021): 1.13%

GDP PPP (2024): $746.1 billion

International Migrant Stock (2020): 871,256

Insider Monkey Score: 25.6

Ireland is ranked 24th on our list of the 50 best countries in the world. In 2021, the country had an HDI of 0.945. The country boasts a GDP of $746.1 billion, as of 2024. The number of foreign-born people in the country was 871,256 in 2020. The country spent a total of 1.13% of its GDP on research and development in 2021.

23. Denmark

Human Development Index (2021): 0.948

R&D Expenditure as a Percentage of GDP (2021): 2.81%

GDP PPP (2024): $458.0 billion

International Migrant Stock (2020): 717,574

Insider Monkey Score: 25.0

Ranked 23rd on our list, Denmark has a GDP of $458 billion as of 2024. In 2021, the HDI of the country was 0.948. The number of foreign-born people in the country was 717,574 in 2020. It spent 2.81% of its GDP on R&D in 2021.

22. Norway

Human Development Index (2021): 0.961

R&D Expenditure as a Percentage of GDP (2021): 1.94%

GDP PPP (2024): $470.2 billion

International Migrant Stock (2020): 852,238

Insider Monkey Score: 24.8

Norway ranks 22nd on our list. As of 2024, the country has a GDP of $470.2 billion. In 2021, the country had a human development index of 0.961. The country had an international migrant stock of 852,238. The R&D expenditure of the country was 1.94% of its GDP in 2021.

21. Hong Kong

Human Development Index (2021): 0.952

R&D Expenditure as a Percentage of GDP (2021): 0.97%

GDP PPP (2024): $577.8 billion

International Migrant Stock (2020): 2.9 million

Insider Monkey Score: 23.6

Hong Kong is ranked 21st on our list. It has a GDP of $577.8 billion as of 2024. In 2021, the HDI of the country was 0.952. The number of foreign-born people in the country was 2.9 million in 2020.

20. China

Human Development Index (2021): 0.768

R&D Expenditure as a Percentage of GDP (2021): 2.43%

GDP PPP (2024): $35.4 trillion

International Migrant Stock (2020): 1.0 million

Insider Monkey Score: 22.6

China is ranked among the best countries in the world. In 2021, the country had an HDI of 0.768. The country boasts a GDP of $35.4 trillion, as of 2024. In 2020, the number of foreign-born people in the country was 1 million. The country spent a total of 2.43% of its GDP on research and development in 2021.

19. Austria

Human Development Index (2021): 0.916

R&D Expenditure as a Percentage of GDP (2021): 3.26%

GDP PPP (2024): $645.5 billion

International Migrant Stock (2020): 1.7 million

Insider Monkey Score: 22.6

Austria has a GDP of $645.5 billion as of 2024. In 2021, the HDI of the country was 0.916. The number of foreign-born people in the country was 1.7 million in 2020. Austria spent 3.26% of its GDP on R&D. It is ranked 19th on our list.

18. Saudi Arabia

Human Development Index (2021): 0.875

R&D Expenditure as a Percentage of GDP (2021): 0.45%

GDP PPP (2024): $2.4 trillion

International Migrant Stock (2020): 13.5 million

Insider Monkey Score: 22.2

Saudi Arabia ranks 18th on our list. As of 2024, the country has a GDP of $2.4 trillion. In 2021, the country had a human development index of 0.875. The country had an international migrant stock of 13.5 million in 2020. The R&D expenditure of the country was 0.45% of its GDP in 2021.

17. Turkey

Human Development Index (2021): 0.838

R&D Expenditure as a Percentage of GDP (2021): 1.4%

GDP PPP (2024): $3.8 trillion

International Migrant Stock (2020): 6 million

Insider Monkey Score: 20.2

Ranked 17th on our list, Turkey has a GDP of $3.8 trillion as of 2024. In 2021, the HDI of the country was 0.838. The number of foreign-born people in the country was 6 million in 2020.

16. United Arab Emirates

Human Development Index (2021): 0.911

R&D Expenditure as a Percentage of GDP (2021): 1.5%

GDP PPP (2024): $952.2 billion

International Migrant Stock (2020): 8.7 million

Insider Monkey Score: 19.0

The UAE ranks 16th on our list. As of 2024, the country has a GDP of $952.2 billion. In 2021, the country had a human development index of 0.911. The country had an international migrant stock of 8.7 million. The R&D expenditure of the country was 1.5% of its GDP in 2021.

15. Singapore

Human Development Index (2021): 0.939

R&D Expenditure as a Percentage of GDP (2020): 2.16%

GDP PPP (2024): $786.8 billion

International Migrant Stock (2020): 2.5 million

Insider Monkey Score: 19.0

Singapore is one of the best countries in the world. It boasts a GDP of $786.8 billion. In 2021, the HDI of the country was 0.939. In 2020, it spent 2.16% of its GDP on research and development. In 2020, Singapore had 2.5 million foreign-born people.

14. Sweden

Human Development Index (2021): 0.947

R&D Expenditure as a Percentage of GDP (2021): 3.42%

GDP PPP (2024): $736.7 billion 

International Migrant Stock (2020): 2.0 million

Insider Monkey Score: 17.6

Sweden ranks among the 50 best countries in the world. In 2021, the country had an HDI of 0.947. The country boasts a GDP of $736.7 billion, as of 2024. The number of foreign-born people in the country was 2 million in 2020. The country spent a total of 3.42% of its GDP on R&D in 2021.

13. Belgium

Human Development Index (2021): 0.937

R&D Expenditure as a Percentage of GDP (2021): 3.43%

GDP PPP (2024): $793.8 billion

International Migrant Stock (2020): 2 million

Insider Monkey Score: 17.2

Ranked 13th on our list, Belgium has a GDP of $793.8 billion as of 2024. In 2021, the HDI of the country was 0.937. The number of foreign-born people in the country was 2 million in 2020. Belgium spent 3.43% of its GDP on R&D in 2021.

12. Spain

Human Development Index (2021): 0.905

R&D Expenditure as a Percentage of GDP (2021): 1.43%

GDP PPP (2024): $2.5 trillion

International Migrant Stock (2020): 6.8 million

Insider Monkey Score: 17.0

Spain ranks 12th on our list. As of 2024, the country has a GDP of $2.5 trillion. In 2021, the country had a human development index of 0.905. The country had an international migrant stock of 6.8 million in 2020. The R&D expenditure of the country was 1.43% of its GDP in 2021.

11. Italy

Human Development Index (2021): 0.895

R&D Expenditure as a Percentage of GDP (2021): 1.45%

GDP PPP (2024): $3.29 trillion

International Migrant Stock (2020): 6.3 million

Insider Monkey Score: 16.6

Italy is ranked 11th on our list of the 50 best countries in the world. In 2021, the country had an HDI of 0.895. The country boasts a GDP of $3.29 trillion, as of 2024. The number of foreign-born people in the country was 6.3 million in 2020. The country spent a total of 1.45% of its GDP on research and development in 2021.

Click here to see 10 Best Countries in the World.

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Disclosure: None. 50 Best Countries in the World is originally published on Insider Monkey.

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