Millions of people across the world immigrate every year in search of a better standard of living comparative to their home country. Traditionally, people sought information regarding best economy to meet their dreams but today world has changed and now people look beyond GDP and economic statistics to ascertain highest quality of life. In this regard, globalization played an important role for countries with best standard of living to easily attract immigrant that are searching health, wealth, education and many others. Comparison of well-being across countries to define ideal part of world to live in with all essentials for better quality of life is now becoming broad topic that evaluate many features of society. There are number of factors that make one country a ‘better’ place to live than another. Factors may change depending on everyone’s priorities. If anyone has children might seek safe and secure environment while a young student may want to live where education is inexpensive. An adult career seeker might think that country with the highest possible income and lowest unemployment level is best to live in. Similarly, affordable housing is vital for high living standard of newlywed couples. Sometimes, people just want to live in a country with a strong community bonds. Most of all, best health care is important for overall prosperity of the society.For the purpose of sound identification of countries with highest living standard, experts put together numerous factors, that matter to people and that shape the quality of lives that considered essentials for well-being of whole society.
The Organization for Economic Cooperation and Development has an interactive Better Life Index to ascertain which country has highest quality of life by using better life index that take into account many factors apart from economy and GDP. Housing conditions, employment level, Community development, education facilities, health facilities, life satisfaction, personal security and work-life balance which are key ingredients to improving standard of life and have got special attention in evaluation of countries with best quality of life.
This Better Life Index evaluate the overall well-being of a country, giving equal weightage to eleven different aspect of life. This index gives score out of 10; higher the score, better the living standard of life.
Australia has best living standard followed by Norway and Sweden, according to OECD’s better life index.
Below are top ten countries, with best standard of living,that scored highest in Better Life Index
1. Australia – 8.11
2. Norway – 7.97
3. sweden – 7.97
4. Denmark – 7.95
5. Canada – 7.94
6. Switzerland – 7.90
7. United States – 7.65
8. Finland – 7.58
9. Netherlands – 7.56
10. New Zealand – 7.54
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