In 2024, Canberra, the capital city of Australia, had the highest Human Development Index (HDI) in the Asia-Pacific region, with a score of 0.98. In contrast, India's Hyderabad had an HDI score of roughly 0.65 in the same year. HDI provides a human-centered overview of development, based on an individual's longevity and wellness, knowledge, and decent living standards.

Switzerland had the highest level of the Human Development Index (HDI) worldwide in 2022 with a value of 0.967. With a score of 0.966, Norway followed closely behind Switzerland and had the second highest level of human development in that year. The rise of the Asian tigers In the decades after the Cold War, the four so-called Asian tigers, South Korea, Singapore, Taiwan, and Hong Kong (now a Special Administrative Region of China) experienced rapid economic growth and increasing human development. At number four and number nine of the HDI, respectively, Hong Kong and Singapore are the only Asian locations within the top 10 highest HDI scores. Both locations have experienced tremendous economic growth since the 1980’s and 1990’s. In 1980, the per capita GDP of Hong Kong was 5,703 U.S. dollars, increasing throughout the decades until reaching 50,029 in 2023, which is expected to continue to increase in the future. Meanwhile, in 1989, Singapore had a GDP of nearly 31 billion U.S. dollars, which has risen to nearly 501 billion U.S. dollars today and is also expected to keep increasing. Growth of the UAE The United Arab Emirates (UAE) is the only Middle Eastern country besides Israel within the highest ranking HDI scores globally. Within the Middle East and North Africa (MENA) region, the UAE has the third largest GDP behind Saudi Arabia and Israel, reaching nearly 507 billion U.S. dollars by 2022. Per capita, the UAE GDP was around 21,142 U.S. dollars in 1989, and has nearly doubled to 43,438 U.S. dollars by 2021. Moreover, this is expected to reach over 67,538 U.S. dollars by 2029. On top of being a major oil producer, the UAE has become a hub for finance and business and attracts millions of tourists annually.

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and four are in Asia, alongside the U.S., Canada, and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.

A multi-millionaire is defined as someone owning 10 million U.S. dollars or more. It was forecasted that there would be almost 18 thousand individuals in Australia defined as multi-millionaires by 2026. This is in line with the country’s growing economy over the years as well as the growing wealth inequality that was becoming a cause for concern in the island nation.

Distribution of the wealthy

As a rich country with plenty of natural resources and a high Human Development Index, Australia had always had a large number of high net-worth individuals or HNWIs. There were over ten thousand millionaires including a couple dozen of billionaires, with these figures expected to grow significantly over the next few years.

Income inequality

Despite the increase of wealth and economic growth, there was a concern at the level of poverty and homelessness due to the rising wealth inequality nationally. The number of homeless people living in Australia had only been increasing with more than a hundred thousand people currently without shelter. Furthermore, most of the wealth was being pushed from the country to the cities, affecting the livelihood of those living in the countryside or outback.

0,95 (puntaje, el más alto=el mejor) in 2020. A composite index measuring average achievement in three basic dimensions of human development—a long and healthy life, knowledge and a decent standard of living. 1=the most developed.

The statistic shows the total population of Australia from 1980 to 2021, with projections up until 2029. In 2021, Australia had a total population of about 25.77 million people. Population of Australia Australia is among the ten largest countries in the world, in terms of area size, although its total population is low in relation to this. Much of Australia’s interior remains uninhabited, as the majority of Australians live in coastal metropolises and cities. Most of the population is of European descent (predominantly British), although there is a growing share of the population with Asian heritage; only a small percentage belongs to the indigenous Aboriginal population. Australia's year-on-year population growth is fairly high compared to most other economically and demographically advanced nations, due to comparatively high rates of natural increase and immigration. Living standards Standard of living is fairly high in Australia, which can be seen when looking at the Human Development Index, which ranks countries by their level of human development and living standards, such as their unemployment rate, literacy rate, or life expectancy at birth. Life expectancy of Australia’s population is quite high in international comparison, for example, Australia is also among the leading countries when it comes to this key factor.

Economically speaking, Australia is also among the leading nations, with a steadily rising employment rate, an increasing gross domestic product (GDP) with a steady growth rate, and a relatively stable share in the global GDP.

In 2020, Australia had the highest E-Government Development Index Score (EGDI) in Oceania with a score of 0.94. The EGDI is based on three components: online service index, telecommunication infrastructure index, and the human capital index.

In 2023, Switzerland led the ranking of countries with the highest average wealth per adult, with approximately 709,600 U.S. dollars per person. Luxembourg was ranked second with an average wealth of around 607,500 U.S. dollars per adult, followed by Hong Kong SAR. However, the figures do not show the actual distribution of wealth. The Gini index shows wealth disparities in countries worldwide. Does wealth guarantee a longer life? As the old adage goes “money can’t buy you happiness”, yet wealth and income are continuously correlated to the quality of life of individuals in different countries around the world. While greater levels of wealth may not guarantee a higher quality life, it certainly increases an individual’s chances of having a longer one. Although they do not show the whole picture, life expectancy at birth is higher in the more wealthier world regions. Does money bring happiness? A number of the world’s happiest nations also feature in the list of those countries for which average income was highest. Finland, however, which was the happiest country worldwide in 2022, is missing in the list of top twenty countries with the highest wealth per adult. As such, the explanation for this may be the fact that the larger proportion of the population has access to a high income relative to global levels. Measures of quality of life Criticism of the use of income or wealth as a proxy for quality of life led to the creation of the United Nations’ Human Development Index. Although income is included within the index, it also has other factors taken into account such as health and education. As such, the countries with the highest human development index can be correlated to those with the highest income levels. That said, none of the above measures seek to assess the physical and mental environmental impact of a high quality of life sourced through high incomes. The happy planet index demonstrates that the inclusion of experienced well-being and ecological footprint in place of income and other proxies for quality of life results in many of the world’s materially poorer nations being included in the happiest.