The World Economic Forum (WEF) has released its Inclusive Development Index, an annual assessment of 103 countries’ economic performance that measures how a nation performs on eleven dimensions of economic progress.
In addition to a GDP per capita, the index attempts to more closely reflect the criteria by which people evaluate their countries’ economic progress.
This includes the level of employment, length and quality of life, poverty and income inequality, public debt or carbon intensity of the economy.
The Czech Republic ranked as the 15th most developed country in the world, topping France, Britain, and Japan on the index.
Its low poverty rate, the relatively small income gap between rich and poor, and low unemployment significantly influenced the Czech position in the rankings—it is considered an advancing economy by the WEF.
Norway leads the world as the most developed nation followed closely by Iceland, Luxembourg, Switzerland, and Denmark rounding out the top 5. The top 15, with the exception of Australia and New Zealand, is occupied by European economies.