Developing is the process of improving something, whether that’s a new technology, a website, or a real estate project. The noun development can also refer to the act of learning, as when employees attend training sessions or participate in team building activities. In economic terms, a developed country is one that has a well-established economy based on many different businesses and services. Its GDP is higher than the average for other countries, its people have access to more advanced technologies, and its citizens are generally educated.
In the past, economists have defined development primarily in terms of economic growth—a growing economy means more wealth, and that can be measured by things like a nation’s total exports or GDP per capita. However, recent theories of development have focused on the quality of people’s lives. They emphasize that to truly improve the lives of people around the world, we need more than just economic progress: we need to ensure that everyone has the opportunity to fulfil their basic needs.
A number of different parties fund and conduct international development work around the globe. Governments, private organizations, and philanthropies are among the major players. Some work independently, while others collaborate with each other on development projects. The United States, for instance, disperses billions in foreign aid each year to help other nations develop their infrastructure and meet their development goals. These efforts are augmented by global organizations, like the United Nations and the World Bank.