High-income country

A high-income country is a nation that has a high Gross National Income (GNI) per capita, as defined by the World Bank. These countries generally have advanced economies, with substantial industrial, service, and technology sectors that contribute to a high standard of living for their citizens. Characteristics often include:

1. High GNI per capita: This is typically above $13,000 (though this threshold can change over time). 2. Advanced infrastructure: Well-developed transport, healthcare, education, and communication systems. 3. High levels of education and healthcare: Leading to a healthier, more skilled workforce. 4. Lower poverty rates: Due to stronger social safety nets and a wider availability of well-paying jobs. 5. Robust political and financial institutions: Contributing to stability and strong property rights, supporting economic growth.

Examples of high-income countries include the United States, Germany, Japan, Canada, and Australia.

Spain is classified as a high-income country by the World Bank. It has a high Gross National Income (GNI) per capita and a relatively advanced economy with well-developed infrastructure, healthcare, education, and a significant tourism sector. Spain is a member of the European Union, which supports economic stability, and it has strong institutions and social programs that contribute to a relatively high standard of living.

However, like many high-income countries, Spain faces economic challenges such as relatively high unemployment rates, especially among youth, and regional economic disparities. Despite these issues, Spain’s overall economic indicators meet the criteria for high-income status.