We all know that GDP, or the Gross Domestic Product, is the measurement of the wealth in the country coming from sources including export revenues, incomes, consumption, and the value of goods and services the country produces in a span of a year. Setting the benchmark according to these metrics and establishing the same parameters across the board is what makes GDP so popular in demonstrating and comparing wealth. In this, the GDP per capita is the wealth divided by the number of inhabitants in the country, which is a helpful measurement that can provide insight into the quality of life in a country. If the GDP per capita is high, this can often indicate the wealth and prosperity of the inhabitants of the country.
Here is the list of the Richest Countries:
GDP per capita: Int$ 55,891.2
If you see this country in terms of GDP per capita and population then this country has high living standards for the citizens. It is one of the world’s richest countries, and also the biggest exporters. This country exports automobiles, chemicals, electronic, and electrical products, machinery. It has countries largest manufacturing economy.
GDP per capita: Int$ 58,512.7
This country is the 7thg most productive country and also the fifth most productive according to PPP. 85% of the primary energy of the country has been produced by the renewable source of energy from the domestically produced renewable sources of energy. It has the top greenest economies as they use the hydroelectric and geothermal power that has made the country the largest capita electricity producer in this world. There are also many major industries like tourism, manufacturing, aluminum smelting, fisheries, agriculture, etc.
GDP per capita: Int$ 58,649.7
If you see this country in terms of GDP per capita then this is one of the richest countries for its well-developed s social market and industrialized economy. It has highly developed industries, tourism, and is also one of the major contributors to the economy of Austria. 66% of the imports and exports of Austria have arrived from trade with the other member of the states of the European Union.
GDP per capita: Int$ 59,469.1
This country is the 17th largest economy and also one of the highest-earning nations. The trade of this country depends mostly on foreign trade, low unemployment, and inflation rates, stable industries, and this country has the major transportation hub of Europe. There are also major industries like petroleum, electrical machinery. It has also one of the leading exporters of the world with its trading partner Germany, the UK, France, and the US.
GDP per capita: Int$ 60,334.8
With the measure of the nominal GDP, Denmark has the 36th largest national economy and also the 51st largest economy in terms of PPP. Last year, the $58,439 Gross National Income per capita of Denmark has made it the 7th highest. This country has several industries like construction, medical, and transportation equipment, food processing, wind turbines.
10. San Marino
GDP per capita: Int$ 61,006.8
This country has a stable and prosperous economy that has been owed partly for its resourceful citizens who were able for adapting successfully and utilize their available resources. This country is basically for the farmers and also for the stone quarrelers, and also the production of cheeses and agricultural products with such unique trinkets that have made out of stone The bank system of San Marino has been integrated closely In the EU’s through the Italian economy with the monetary and customs systems.
GDP per capita: Int$ 64,724.1
After getting independence from Britain, the sultan has regulated everything from the military to the economy and has imposed such unique punishing rules that also has provided such free education and also medical care for the citizens. This country has a 97% literacy rate. The business that made Brunei rich is their oil drilling industry that has brought the economy riches from export. The people at Brunei lead such luxurious life with more ownership of the car than the entire world. In this country, prostitution has been unnoticed by the sex-obsessed monarch.
GDP per capita: Int$ 65,279.5
This country has the largest economy in the world., it has the strongest economic power of purchasing. It has supplied its own energies and also is able to export its own oil and also gas for profit, there are literally no state-owned liabilities of investors. These stats attract such talented people from around the world for the warning. There is also a developed financial system in place of equity finance and also decentralized banking system, that has supported such entrepreneurial activities. The debut of the public is $27,000 billion that is also $3,000 billion higher than the pre-COVID-19.
GDP per capita: Int$ 67,978.7
This country has the highest living standard in the Erath, and also has ranked on the top position on the human development index with the advanced education systems, distinct social security system, and universal health care. The raw oil and gas resources business has led their economy, there are also many ways to lead a life like seafood, hydra-power, lumber, minerals, natural gas, and freshwater. Petroleum is another asset to export since the 1970s. There are low unemployment and poverty rates at 3 and 0.5%.
6.United Arab Emirates
GDP per capita: Int$ 69,957.6
This state is popular as then Trucial states of the pearl industry that has been prevailed in this country from the 1770s. The time while pearl diving is the hobby that has turned into such a major source of income for the people who are living in the little villages.
After that, the discovery of oil in the late 1950s has happened a clash between the citizens of Dubai and Abu Dhabi and also has got the upper hand over the oil boundaries and also become a rich country.
GDP per capita: Int$ 70,276.6
This nation is one of the happiest and also the healthiest nation on the Earth. Considered one of the happiest and healthiest nations on Earth, Switzerland is home to German-, French- and Italian-speaking citizens, living peacefully and thriving together for over 800 years. Even with its high cost of living, expensive products, and services, as well as the Swiss Frank’s extremely high value with a high conversion rate to other currencies, people stream to engage with this country through business or tourism. A stable economy with a fixed currency value, Switzerland is regarded highly by investors in search of a safe haven for highly profitable feats. Attractive tax rates bring in investment, while international companies seek to expand their business to Switzerland.
The Swiss are an innovative bunch, craftily turning natural resources into quality goods such as their highly-demanded chocolate, cheese, jewelry, home decor, and furniture. Exports contribute the most to the GDP, with gems and precious metals bringing nearly $100 billion a year, followed by pharmaceuticals and machinery. The mountains, the charm of its cities, and the luxurious lifestyle call out millions of tourists every year, while the highly developed tourism sector does not frighten off with its high prices. With no capital gains tax, a low value-added tax on its products at 7.7%, and lower than average income taxes, the Swiss also enjoy investing in their own economy, preferring to buy local, paying for garbage disposal and their inexcusably expensive bottles of water.
GDP per capita: Int$ 87,212.0
Low corporate taxes continuously attract numerous multi-billion dollar companies to relocate and grow their business in Ireland, contributing to the GDP, and the high standard of living for the people. Although citizens receive high wages, the income per capita has been growing at a much slower rate than the collective GDP. Nevertheless, the country’s stability and ongoing wealth gain from tourism, agriculture, and manufacturing, is coveted by others.
The country’s main exports comprise metals and food products, including brewing, computers, parts and software, and textiles. Ireland is also largely dependent on its tertiary industry, including call centers, legal services, accounting, customer service, stockbroking, and catering.
GDP per capita: Int$ 93,851.7
With only a small fishing industry and almost no schools just fifty years ago, the once-sleeping peninsula off Saudi Arabia’s eastern coast has turned into a major oil-exporting world center in the last two decades. Qatar first began massive exports of natural in 1997 to Japan and Spain, expanding to other countries in the early 2000s. Fifteen years and 14 natural gas plants later, its GDP has grown exponentially from $30 billion to well over $200 billion USD. Today, Qatar has the largest natural gas reserves in the world following Russia and Iran, at nearly 900 trillion cubic feet, earning 60% of its collective GDP.
Having discovered oil in 1939 and natural gas 30 years later, it began producing 46,500 barrels per day in 1951. Although some of the revenue was used to start modernizing the country, much of it was being accumulated by the Royal Family, with shares also going to Great Britain, its ruling country. After gaining independence in 1971, Khalifa bin Hamad deposed his father and increased spending on social programs, housing, health, education, and pensions, cutting the Royal Family’s allowances. The country also receives major returns on investments in foreign brands, banks, and even the Paris Saint-Germain soccer team and real estate in London.
GDP per capita: Int$ 101,936.7
As there are no natural resources to build its economy on has not stopped the hard-working and inventive Singaporeans from turning their country into the second-richest in the world. Being a major world hub for global financial services firms drives the economy. The jobs in manufacturing, services, transport engineering, and logistics pay its citizens well, while electronics, biotechnology, and chemicals are the main exports of the country.
By erecting high-end infrastructure and significantly expanding its tourism sector, Singapore attracts millions of tourists on a yearly basis. On top of that, the government procured a very investor-friendly economic environment of free trade, open market, and attractively-low tax rates, sought after by international firms and business travelers.
GDP per capita: Int$ 120,962.2
This is one of the rich countries for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. With its inflation rate at only 1.1%, its wealth is also extremely stable. According to the World Economic Forum, the major factor for Luxembourg’s high GDP is the large number of people working in this tiny, landlocked nation, while residing in the neighboring western European countries. The advanced infrastructure and high values for the labor market attract investment and duplicates of the big outside firms.
Having depended on the steel and iron industry for a long time until it stopped bringing profit in the 1970s, the nation adapted superbly. Today, as one of the most educated labor forces in the world, Luxembourg prospers from a mix of industries, predominantly and an import-export economy based on financial services. Small to medium-sized companies expanded, while a highly-skilled labor force with the ability to speak multiple languages is highly demanded by multinational corporations. There is also a small but prosperous agricultural sector in the country.
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