In this article, we will look at the 5 most respected countries in Asia. We have also looked at the ongoing and predicted economic growth of the Asian market in another article. If you are interested in reading about that along with a more extensive list, head straight to the 15 Most Respected Countries in Asia.
5. Israel
Human Development Index: 0.919
Human Rights Index: 0.850
Average Index: 0.885
Israel is one of the immensely respected countries globally due to its remarkable economic prowess and technological innovation. With the second-largest number of startups globally and a thriving high-tech sector comparable to Silicon Valley, it boasts over 400 multinational corporations investing in research and development. Notably, it hosts the third-largest number of NASDAQ-listed companies, with industry giants like Intel, Microsoft, and Apple, drawn to its highly skilled workforce and conducive business environment.
Moreover, Israel’s economic resilience stems from its diverse sectors such as high-technology and industrial manufacturing, alongside its dominance in diamond cutting and polishing, constituting a major portion of exports. Despite natural resource limitations, recent discoveries of natural gas reserves and a burgeoning solar energy industry signal a shift towards energy independence. This economic success is underpinned by a stable educational infrastructure nurturing a skilled populace, driving innovation and value creation.
4. Cyprus
Human Development Index: 0.896
Human Rights Index: 0.890
Average Index: 0.893
Cyprus is a prominent tourist hub in the Mediterranean, with an advanced, high-income economy and ranking high on the Human Development Index. It has been a Commonwealth member since 1961 and was part of the Non-Aligned Movement before joining the European Union on May 1, 2004. Joining the eurozone on January 1, 2008, the Republic of Cyprus continues to grow as a sought-after destination for travellers, with a blend of rich cultural heritage and stunning natural landscapes.
3. South Korea
Human Development Index: 0.925
Human Rights Index: 0.920
Average Index: 0.923
South Korea reported an HDI of 0.925. The GDP per capita in the country is reported to be $56,710 in 2023. South Korea’s economy grew by 1.4% in 2023.
The country is widely respected for its highly advanced mixed economy, ranking as the 4th largest in Asia and 12th globally by nominal GDP at ₩2.24 quadrillion (US$1.72 trillion). Recognized for its remarkable transition from an underdeveloped to a high-income country within a few generations, often dubbed the “Miracle on the Han River,” it has gained membership in prestigious economic forums like the OECD and the G20. Its potential influence in the global economy is also confirmed by its inclusion in the Next Eleven countries.
2. Taiwan
Human Development Index: 0.926
Human Rights Index: 0.930
Average Index: 0.928
Taiwan ranks 2nd on our list, reporting an HSI of 0.926, according to Taiwan’s Statistical Bureau. The country reported a GDP per capita of $72,490 in 2023 and a GDP growth of 0.8%.
Taiwan boasts a highly developed free-market economy, ranking as the 8th largest in Asia and 20th globally by purchasing power parity. Recognized by the International Monetary Fund and the World Bank as an advanced economy, it has undergone a remarkable economic transformation, known as the Taiwan Miracle, transitioning from agriculture to a high-income industrialized country.
1. Japan
Human Development Index: 0.925
Human Rights Index: 0.930
Average Index: 0.928
Japan tops our list, reporting an HDI of 0.925. The GDP per capita of the country is reported to be $52,120 as of 2023. Japan reported a GDP growth of 2% in 2023.
Japan’s global respect stems from its innovation prowess, with a remarkable $12 trillion in financial assets, equivalent to 8.6% of the world’s GDP. Ranking second in automobile manufacturing, Japan leads in patent filings and has 47 Fortune Global 500 companies. Its manufacturing focus on high-tech goods, such as integrated circuits and robotics, also confirms its industrial importance. Despite fierce competition from China and South Korea, Japan maintains an annual trade surplus and a high net international investment surplus. With the third-largest total wealth globally, Japan is not just the most respected country in Asia, but it is also believed to be the most loved country in Asia.
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