How many 1st world countries are there

Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Since the collapse of the Soviet Union in , the term's meaning has largely evolved.

Currently, it describes a developed and industrialized country characterized by political and economic stability, democracy, the rule of law, a capitalist economy, and a high standard of living.

The ways that first-world countries are defined can vary. Various metrics have been used to define first-world nations, including gross domestic product GDP , gross national product GNP , mortality rates, and literacy rates. The Human Development Index is also an indicator of which countries might be categorized as having first-world status. Economically speaking, first-world countries tend to have stable currencies and robust financial markets , making them attractive to investors from all over the world.

While they may not be purely capitalist, first world nations' economies tend to be characterized by free markets , private enterprise, and private ownership of property. Under the original Cold War alliance designations, the first world consisted of the U. The remaining nations, which aligned with neither group, were assigned to the third world—most of Africa, Asia, the Middle East, and Latin America. However, this definition includes many countries that are economically stable, which does not fit the currently accepted definition of a third-world country.

Controversy exists regarding the use of the term "first world" to describe modernized, democratic countries in comparison with developing nations and those with political regimes that do not align with western nations'.

There can be a tendency toward using the phrase as a way to rank some nations above others in terms of geopolitical significance. Such references can lead to divisive tension in international relations, especially as developing nations seek to negotiate with so-called first-world countries or appeal to the international community for support of their causes.

It is not uncommon for first-world nations to press for international policies, especially economic ones, that will favor their industries and trade to protect or enhance their wealth and stability.

Designation as a first-world nation does not necessarily mean a country has local access to certain luxuries or resources that are in demand. For example, oil production is a staple industry in many countries that historically have not been regarded as first-world nations.

Brazil, for instance, contributes substantial amounts of oil to the overall world supply, along with other forms of production; however, the country is recognized as a developing, industrialized state more than as a first-world nation.

In contemporary parlance, "developed" or "industrialized" nation is considered a preferable term to "first world country. There is an argument to be made that the model of dividing up nations into first, second, or third worlds represents an archaic and antiquated perspective. Since the end of the Cold War, the United States has become the world's only superpower and an increasing number of countries have embraced or are in the process of adopting American-style democracy and capitalism.

These countries are neither abysmally poor nor exceedingly rich; rule of law and democracy are their defining features. As such, it would be counterintuitive to describe them with the pejorative term of "third world" countries.

Examples of these types of countries include Brazil and India. The original definition of "first world" as a country not aligned with the United States has also led to some odd classifications of quite prosperous and advanced nations. Oil-rich Saudi Arabia, which has a higher per capita income than first-world country Turkey, is still often technically slotted as a second- or third-world nation, for example—or at least, denied the first-world designation. Then there is the increasing problem of wealth inequality.

The high per-capital income associated with the first world often belies an extremely uneven distribution of wealth in these nations. Several first-world countries have poverty -stricken regions, where conditions are comparable to those in developing countries. For example, residents of Appalachia and other rural areas of the United States often lack resources and essentials for a minimum standard of living.

Even certain sections of large cities, such as the South Side of Chicago or northern Milwaukee's neighborhood, feature impoverished conditions. While highly subjective, first world is a term that consists of countries that may have the following characteristics: stable democracies, high standards of living, capitalist economies, and economic stability.

Other measures that may be used to indicate first world countries include gross domestic product or literacy rates. Broadly speaking, countries that may be considered first world include the United States, Japan, Canada, and Australia, among others. There is no universal way to define a first-world country.

Often they are characterized as industrialized and democratic nations. These features are typically accompanied by stable currencies, sound financial markets, and modern infrastructure.

Due to these factors, first-world countries often attract foreign direct investment and capital inflows. First world is a problematic term because it is outdated. First coined during the Cold War, it referred to countries that were allies of the United States—mostly other westernized countries, as opposed to countries that aligned with the former Soviet Union.

Because the economic indicators used to define the first world vary by their perspective, the first world can represent an opaque concept of a country's economic stature. For instance, despite Saudi Arabia having per capita income that is nearly equal to Portugal's, it is often considered a second world nation.

International Markets. Retirement Planning. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. Economic factors such as gross domestic product GDP and the gross national product GNP play a huge role, and many evaluators also consider additional factors such as life expectancy and literacy rate. One of those evaluators is the United Nations, whose Human Development Index is one of the most highly respected analyses of per-nation quality of life in the world.

Countries with an HDI score of 0. The most recent HDI rankings will appear in the table lower down on this page, including the 66 countries that qualified for the distinction in the report. Additional lists of what would be considered First World countries include the International Monetary Fund's list of advanced economies , the CIA World Factbook's list of developed countries, and the World Bank's list of high-income economies. That said, it is important to remember that such lists would be historic, and would not be applicable today.

Once the Cold War ended, the term "First World countries" morphed, taking on its current definition. Conversely, after the communist bloc it originally represented dissolved, the term "Second World countries" has failed to evolve a new meaning and has largely fallen out of use.

For the full list of countries and their respective HDI scores those scoring 0. Some dissenters claim Charles De Gaulle said it first, while others claim that the United Nations had already begun using the term in a strictly economic sense in First World Countries