A developed country is a country that has a stable economy and most likely government. Both the government and economy go hand in hand. These countries usually have been around for a while and have established their independence. There are other names for a developed county and they include an industrialized country, a more developed country and a more economically developed country.
Austria is one of these countries because its economy has stabilized and it acquires money through its service economy. Compared to the other countries in the world, Austria ranks as 20th in regard to their economy. There are about 58 countries that are developed countries. There are only 19 other countries that are considered to be more developed than Austria.