Netherlands takes 7th place in Davos quality of life index

The Netherlands came in 7th place on the Inclusive Development Index (IDI), which was presented at the World Economic Forum in Davos, Switzerland on Monday. The IDI was developed as an alternative to measuring a country's growth by only looking at its gross domestic product.

The IDI looks at a combination of 12 indicators "inclusive growth". These include things like employment rate, poverty, life expectancy, GDP per capita, inequality and net savings, among others, according to Quarts. As an result, the established economic order of the world was upended. For example, the United States, the world's largest economy, made it only to 23rd place on the IDI, putting it below countries like Estonia and the Czech Republic.

The Netherlands took 7th place on this quality of life index, amongst the advanced economies. The country scored especially well on its accessibility and quality of education, as well as on entrepreneurship and capital growth. But when it came to healthcare and quality of life, the Netherlands scored about average.

The top five advanced economies is made up of, from first to fifth place, Norway, Luxembourg, Switzerland, Iceland and Denmark. Sweden came in sixth place and the Netherlands in 7th. Singapore came in last place, as no data was available for the country. Second to last, in 29th place, was Greece.