When it comes to prosperity and financial stability, the countries can divided into two categories known as developed and developing countries.
- Developed countries have high levels of industrialization, income, and human development, while developing countries are in automation and exhibit lower income and human development.
- Developed countries generally have advanced infrastructure, healthcare, and education systems, while developing countries may need more facilities and resources.
- The distinction between developed and developing countries helps to identify disparities in economic growth, living standards, and access to resources and opportunities.
Developed Countries vs Developing Countries
The difference between Developed Countries and Developing Countries is that developed countries are self-sufficient and developed in terms of industries and economies. Developing countries are not self-sufficient. The rate of unemployment and poverty is low in developed countries and is high in developing countries.
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Industrial growth is high in developed countries, whereas developing countries depend on developed countries.
|Parameter of Comparison||Developed Countries||Developing Countries|
|Rates||Low infant mortality rate; high literacy rate; a higher rate of skilled workers||A high rate of illiteracy; a high infant mortality rate|
|Living Conditions||Good and safe||Moderate but dangerous at times|
What is a Developing Country?
The best way to define a developing country would be a nation that has a much lower industrial base than a developed country. This means that the country in question usually has a much lower GDP than established countries.
Of course, when it comes to the term “developing”, it is important to note that scholars disagree on the list of countries that fit this category. However, it generally is defined as a “currently observed situation”, and developing countries often have several characteristics:
1) Low levels of access to basic hygiene, sanitation, and safe drinking water.
These are all things that we in developing countries take for granted, but many third-world countries don’t have this. The lack of clean drinking water is part of the reason why developing countries often have a lot of problems with sickness and infectious diseases.
2) Low education levels.
For a society to progress, people need to be educated. This is often lacking in a developing country.
Education can help them properly solve problems, have access to new farming and cultivation methods, and many other advancement strategies.
3) High incidence of infectious diseases.
In a developing country, many of the common childhood infectious diseases still have a stronghold. Not only that, but they often can be deadly.
Conditions such as measles, chickenpox, and malaria can wipe out a generation in some cases.
What is a Developed Country?
By the same token, several characteristics would define a developed country.
There is an old saying that goes, “…as long as they keep the trains coming on time.” This means infrastructure! and this is one of the hallmarks of a developed country.
They have an organized infrastructure throughout their roads, transportation, and other areas. Of course, that is just the start.
Here are some extra areas that define a fully developed country:
1) Developed countries have a higher Human Development Index (HDI)
The Human Development Index (HDI) is a measure adopted by the United Nations that is one way to fully gauge not only a prosperous economy but also what a country does with its economy as well.
2) Developed countries will usually have a higher net wealth per capita.
One of the things that would go hand-in-hand with the Human Development Index (HDI) would be the relative net wealth of a country.
Naturally, an established country is going to have a lot more individuals who are also in a better personal financial situation.
Main Differences Between Developed Countries and Developing Countries
Of course, this all begs the question, just what would a couple of defining characteristics that would differentiate between developed and developing countries? When it comes to a fully established country, here are some things to keep in mind:
- They have good living conditions.
- They possess a high standard of living, and
- A developed country would have solid factors of production.
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
4 thoughts on “Difference Between Developed Countries and Developing Countries”
hahaha 🙂 after reading this and reading the numbers given here, everyone would want to be born in a developed country
yes Avish, its a privilege to be born in a developed country but there are people who feel more satisfied when they face hardships in developing countries and overcome these hardships. The real satisfaction is when you can go against odds and achieve success.
I am from Africa (Nigeria) and we do come under developing countries.
If I compare the current situation with the one when I was school going kid, a lot has improved but then the developed countries have also improved a lot.
Nigeria is always in the news with the upcoming talent and opportunities.