Better Life Index: Australia is World’s Happiest Developed Nation
As per the Better Life Index released by the Organization for Economic Cooperation and Development (OECD), Australia was ranked as the world’s happiest nation among developed economies for the third consecutive year. The index ranked over 30 nations on criteria like income levels, health, safety and housing.
Key points of Better Life Index:
Top Ranking Nations:
What makes Australia different from other nations?
- Australia is above the OECD average of percentage of people having a paid job, as the country has over 73% of its 23 million people aged 15 to 64 hold a paid job.
- An infant born in Australia has a Life Expectancy of above 82 years.
- Australia’s economy showcased more than two decades of straight growth due to demand for its natural resources.
- It managed to beat the financial crisis and was the only major developed country to prevent the global recession in 2009.
- The Australian dollar is currently trading close to 30 year highs.
Despite all the above positive facts, Australia is facing challenge in the form of a widening income gap. As per OECD, the top 20% of Australia’s population earn six times more than the bottom 20%.