What defines high-income countries?

High-income countries are typically characterized by technologically advanced economies. These nations have developed industries that utilize advanced technologies and provide a wide range of goods and services. The presence of a strong knowledge base, innovation, and high levels of productivity contributes to their economic status, enabling them to generate high per capita income levels.

Such economies often benefit from well-developed infrastructure, a robust educational system, and significant investment in research and development, all of which foster advanced technological capabilities. In contrast, low levels of industrialization and centrally planned economies do not reflect the characteristics of high-income countries, as these factors are often associated with lower economic development. Similarly, low levels of personal income are indicative of lower income classifications rather than high-income countries. Therefore, the defining feature of high-income countries is indeed their technologically advanced economies, which facilitate a higher standard of living and economic prosperity.