Developed market

Last updated January 03, 2026

In investing, a developed market is a country that is most developed in terms of its economy and capital markets. The country must be high income, but this also includes openness to foreign ownership, ease of capital movement, and efficiency of market institutions. This term is contrasted with developing market (emerging markets and frontier markets are types of developing markets).

FTSE Group list

As of October 2024, FTSE Group classifies the following 26 countries as developed markets:^[1]

MSCI list

As of June 2024, MSCI classified the following 23 countries as developed markets:^[2]

S&P list

As of October 2024, Standard and Poor's classifies the following 25 countries as developed markets:^[3]

STOXX list

As of September 2024, STOXX classifies the following 25 countries as developed markets:^[4]

Table

Country	FTSE ^[1]	MSCI ^[2]	S&P ^[3]	STOXX ^[4]
Australia	Y	Y	Y	Y
Austria	Y	Y	Y	Y
Belgium	Y	Y	Y	Y
Canada	Y	Y	Y	Y
Denmark	Y	Y	Y	Y
Finland	Y	Y	Y	Y
France	Y	Y	Y	Y
Germany	Y	Y	Y	Y
Hong Kong	Y	Y	Y	Y
Ireland	Y	Y	Y	Y
Israel	Y	Y	Y	Y
Italy	Y	Y	Y	Y
Japan	Y	Y	Y	Y
Luxembourg	Y	N	Y	Y
Netherlands	Y	Y	Y	Y
New Zealand	Y	Y	Y	Y
Norway	Y	Y	Y	Y
Poland	Y	N	N	Y
Portugal	Y	Y	Y	Y
Singapore	Y	Y	Y	Y
South Korea	Y	N	Y	N
Spain	Y	Y	Y	Y
Sweden	Y	Y	Y	Y
Switzerland	Y	Y	Y	Y
United Kingdom	Y	Y	Y	Y
United States	Y	Y	Y	Y

References

1 2 "FTSE Equity Country Classification October 2024 Annual Announcement" (PDF). FtseRussell.com. Retrieved 3 November 2024.
1 2 "MSCI 2024 Global Market Accessibility Review Country Comparison Report" (PDF). msci.com. Retrieved 4 November 2024.
1 2 "Daily Global Index Dashboard" (PDF). www.spglobal.com. 31 October 2024. p. 5. Retrieved 3 November 2024.
1 2 "Current Country Classification overview" (PDF). stoxx.com. p. 1. Retrieved 4 November 2024.

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[ftse-1] 1 2 "FTSE Equity Country Classification October 2024 Annual Announcement" (PDF). FtseRussell.com. Retrieved 3 November 2024.

[msci-2] 1 2 "MSCI 2024 Global Market Accessibility Review Country Comparison Report" (PDF). msci.com. Retrieved 4 November 2024.

[spglobal-3] 1 2 "Daily Global Index Dashboard" (PDF). www.spglobal.com. 31 October 2024. p. 5. Retrieved 3 November 2024.

[STOXX-4] 1 2 "Current Country Classification overview" (PDF). stoxx.com. p. 1. Retrieved 4 November 2024.

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