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A latest report by the International Labour Organization entitled 'World Social Protection Report for 2014/2015' revealed that over 70 percent of the world population is not adequately covered by social protection.
There are governments of some countries where maximum expenditures are allocated mainly for the social protection of its citizens.
1. Solomon Islands
A sovereign country consisting of a large number of islands in Oceania, Solomon Islands is one such nation where Human Development Index is still low with just 0.51 percent.
This nation still remains as one of the poorest countries in the Pacific. Despite this fact, there has been some recent economic progress with GDP per capita increase to almost $1,500.
The government is presently spending 25.5 percent of GDP on healthcare and social improvements for its citizen's development. Also, many recent economic reforms like a new Foreign Investment Act; tax exemption guidelines; import duty reforms; initiatives to expand financial services in rural areas; endorsement of comprehensive reforms in the state-owned enterprise (SOE); privatization of several unproductive state assets; and, commencement of the implementation of a new Transport Plan for ensuring appropriate funding for transport infrastructure.
2. Greece
The popular holiday destination, Greece has come up in the list of countries that spend the most on their own people. This is mainly attributed to the high unemployment rate prevailing in this country.
It is the global financial crisis that has dramatically hit Greece, where the unemployment rate is now at 27.3 percent, one of the highest in Europe and is expected to rise 28 percent in the coming years. The figure is twice as high among the youth.
Since the beginning of recession, not just unemployment but even suicides also have risen frantically in Greece in the last four years.
Over the years, the government has taken up various changes like privatization, structural reforms, and austerity measures. All these were introduced as measures for the IMF to provide Greece with a 110 billion euro bailout scheme.
3. Belgium
A Western European nation, Belgium is one such nation where its government allots an expenditure rate of 53.3 percent of GDP mainly for its citizen. Out of which more than half of its spending (29.7 percent of GDP) is mainly attributed for social protection.
In this country, the government employees are paid between 30 percent and 40 percent monthly and the employees contribute a fraction of their gross salary towards social security.
In this way, they are entitled of allowances for sickness, unemployment, invalidity, work accidents, contractions of industrial disease as well as old age pensions and family allowances.
4. France
Being one of the wealthiest economies in the world from ages, France's government is known for allotting maximum expenditure of 55.8 percent of GDP for the welfare of its masses. Out of which 32.07 percent of GDP went towards social protection.
It covers health care, work injuries, family allowances, unemployment insurance, old age pensions, invalidity and death benefits.
However, in recent years, the government is constantly under rigorous financial strain as the ageing population has lead to a huge increase in spending on health care, pensions and unemployment benefits.
5. Denmark
A European county, Denmark is one of the richest countries in terms of culture and wealth. This nation enjoys a high standard of living and the country ranks highly in numerous comparisons of national performance, including education, health care, protection of civil liberties, government transparency, democratic governance, prosperity and human development.
All these are attributed to its effective governmental work that spends hugely of around 57.4 percent of GDP for social cause. A major proportion of that expenditure is allotted for social protection.
Because of its effective government programs, all the citizens receive tax-funded health care and unemployment insurance as well as secure pensions. On top of this, education is free.
There are governments of some countries where maximum expenditures are allocated mainly for the social protection of its citizens.
1. Solomon Islands
A sovereign country consisting of a large number of islands in Oceania, Solomon Islands is one such nation where Human Development Index is still low with just 0.51 percent.
This nation still remains as one of the poorest countries in the Pacific. Despite this fact, there has been some recent economic progress with GDP per capita increase to almost $1,500.
The government is presently spending 25.5 percent of GDP on healthcare and social improvements for its citizen's development. Also, many recent economic reforms like a new Foreign Investment Act; tax exemption guidelines; import duty reforms; initiatives to expand financial services in rural areas; endorsement of comprehensive reforms in the state-owned enterprise (SOE); privatization of several unproductive state assets; and, commencement of the implementation of a new Transport Plan for ensuring appropriate funding for transport infrastructure.
2. Greece
The popular holiday destination, Greece has come up in the list of countries that spend the most on their own people. This is mainly attributed to the high unemployment rate prevailing in this country.
It is the global financial crisis that has dramatically hit Greece, where the unemployment rate is now at 27.3 percent, one of the highest in Europe and is expected to rise 28 percent in the coming years. The figure is twice as high among the youth.
Since the beginning of recession, not just unemployment but even suicides also have risen frantically in Greece in the last four years.
Over the years, the government has taken up various changes like privatization, structural reforms, and austerity measures. All these were introduced as measures for the IMF to provide Greece with a 110 billion euro bailout scheme.
3. Belgium
A Western European nation, Belgium is one such nation where its government allots an expenditure rate of 53.3 percent of GDP mainly for its citizen. Out of which more than half of its spending (29.7 percent of GDP) is mainly attributed for social protection.
In this country, the government employees are paid between 30 percent and 40 percent monthly and the employees contribute a fraction of their gross salary towards social security.
In this way, they are entitled of allowances for sickness, unemployment, invalidity, work accidents, contractions of industrial disease as well as old age pensions and family allowances.
4. France
Being one of the wealthiest economies in the world from ages, France's government is known for allotting maximum expenditure of 55.8 percent of GDP for the welfare of its masses. Out of which 32.07 percent of GDP went towards social protection.
It covers health care, work injuries, family allowances, unemployment insurance, old age pensions, invalidity and death benefits.
However, in recent years, the government is constantly under rigorous financial strain as the ageing population has lead to a huge increase in spending on health care, pensions and unemployment benefits.
5. Denmark
A European county, Denmark is one of the richest countries in terms of culture and wealth. This nation enjoys a high standard of living and the country ranks highly in numerous comparisons of national performance, including education, health care, protection of civil liberties, government transparency, democratic governance, prosperity and human development.
All these are attributed to its effective governmental work that spends hugely of around 57.4 percent of GDP for social cause. A major proportion of that expenditure is allotted for social protection.
Because of its effective government programs, all the citizens receive tax-funded health care and unemployment insurance as well as secure pensions. On top of this, education is free.
Tourist Attractions Places ( 1-5 of 10 )
