10 Most Developed Countries in the World Heading into 2024

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3. Iceland

HDI Ranking: 3

GDP Per Capita: $72,903

Composite Score: 3

Following a decline in 2020, Iceland’s economy swiftly recovered, with GDP levels surpassing pre-pandemic figures. In 2022, the economy expanded by 6.4%, driven by increased domestic demand and growth in service exports. Growth in 2023 is anticipated to exceed 4.8%, supported by a strong tourism sector and robust private consumption.

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