High Income Country (HIC)
This subdivision of countries is based on the World Bank income classifications (GNI per capita), which in 2019 was an income of $12056 or above.
A high-income country, also known as an advanced economy or developed country, is a country with a high level of economic development and a robust economy. These countries are characterized by high levels of GDP per capita, advanced infrastructure, industrialization, and high standards of living for their citizens.
Some examples of high-income countries include the United States, Canada, Japan, Germany, the United Kingdom, and France. These countries have well-developed economies, high levels of industrialization, and advanced technological capabilities.
High-income countries typically have higher standards of living, longer life expectancies, and better access to healthcare and education compared to lower-income countries. Additionally, many high-income countries have well-established social safety nets and government systems that support their citizens.
However, despite their overall economic prosperity, high-income countries also face a range of challenges including income inequality, aging populations, and environmental sustainability concerns. These challenges require ongoing attention and investment in order for these countries to continue to thrive.
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