The World Bank defines a high-income country as one that has a gross national income per capita exceeding $12,056. In 2019, there are 81 countries and territories classified by the World Bank as high-income countries. Some of these countries, such as the United States, have held this classification consistently since the 1980s. Other nations, like Saudi Arabia, have held the classification, dropped off the list, and have now reappeared. Some countries, such as Russia and Venezuela, have been classified as high-income in the past but no longer hold that distinction. The benchmarking of high income countries is important to plan a set of strategies in achieving the nation’s growth and advancement, especially in the economy.
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