All the countries across the world just racing by economic and militaristic competition. The technological advancement in countries now brought wealth and also peace to the citizens. The wealth of a country has been measured by Gross Domestic Product (GDP) per capita and also the Purchasing Power Parity per capita.
GDP is a monetary representation that reveals the market value of goods and services for a specific period. GDP per capita just represents a country’s GDP that has been divided based on the population at the time.
Here is the list of Top 10 Richest Countries in 2022:
10. Norway
GDP per Capita: 63,287.6 USD
Norway is a small country having 5.3 million residents, the mixed economy and natural resources are responsible for the richest economy in Norway. The country maintains social security system and welfare program. The country has started many policies and redistributed wealth to the population. Norway has a huge Sovereign Wealth Fund in the world that has been funded from the export revenues from oil and gas. In exporting fish Norway is second and also has access to several mineral resources within its borders.
9. The USA
GDP per Capita: 63,413.5 USD
In the world, the USA is one of the dominating countries now. The US has the largest economy in this world, it is the largest Importer and trails China in exporting goods. The economy of the US is a free market that always encourages entrepreneurs and protects them with a robust system of independent government institutions. America just not only dominates the world’s total GDP but also accounts for 30% of the total wealth in the world as it has to make up approx. 4.2% of the world’s population.
8. San Marino
GDP per Capita: 63,420.3 USD
San Marino is a country in Southern Europe, and also the self-acclaimed world’s oldest republic. It is the smallest country in entire Europe at 61 sq km. San Marino is basically a landlocked country, the economy of the country has benefited from tourism, manufacturing, and exportation. Due to low corporate tax rates the country gets benefits from foreign investments. The high-income distribution has reflected in the living standard of the inhabitants.
7. Brunei Darussalam
GDP per Capita: 65,588.3 USD
Brunei is an Islamic country in Southeast Asia governed by an absolute monarchy. The Economic trajectory is Brunei countries that have been changed after its independence from the UK. The country gained a GDP of about 56% between 1999 to 2008. The reason behind this huge economic growth is the access to crude oil. The most inspiring fact is Brunei provides free education for all t5he citizens, and the literacy level of the country is 97.2%.
6. The United Arab Emirates
GDP per Capita: 66,746.6 USD
The country is located on the eastern end of the Arabian Peninsula, the country is mainly populated by the International place Dubai. The country is very rich in crude oil and natural gas reserves, and in the world, they are the largest exporter. Having leveraged oil, natural gas, and strict government interventions, the UAE is just three times the GDP in the last 40 years.
5. Switzerland
GDP per Capita: 71,760.6 USD
Switzerland is the fifth richest country in the world. Switzerland is mainly situated in Europe. There are some major cities like Zurich, Geneva, and Basel, just ranks or the highest quality of life. Switzerland holds a stable and generous economy that also has made one of the largest GDP per capita among the wealthiest country in the world. Switzerland has a robust service sector like banking, tourism, insurance, etc.
4. Qatar
GDP per Capita: 89,935.3 USD
Qatar just lift from fifty years ago, Qatar also has risen to become the 4th richest country in the world. The west Asian country also has the highest human development in the Arab world. The progress Qatar’s progress for the list of the top 10 richest countries in this world.
3. Ireland
GDP per Capita: 95,237.2 USD
Ireland is also popular as the Republic of Ireland and it’s located in Europe. Ireland also manages to turn the economy into an open market economy. Foreign Multinational companies as the drivers of Ireland’s economy due to the government’s policies. The country also reduced the corporate tax from 32% to 12.5% as a policy that attracted corporations like Amazon, Apple, and other big tech companies,
2. Singapore
GDP per Capita: 98,483.3 .3 USD
Singapore has been formed in 1816 by one Briton. The island country also serves as a trading post for the defected British Empire. Singapore has no such known natural resources but has yet to be revamped its economy to become one of the wealthiest countries. The prosperous Asian economy is also among the four Asian tigers.
1.Luxemburg
GDP per Capita:118, 503.6 USD
Luxemburg is the richest country in the world. The small country is also one of the major economies in the Eurozone. Luxemburg was also a proud industrial state with its steel production in 1960. The country has diversified its economy with the banking sector. The country is often tagged as tax heaven. The company like Amazon and Skype has their major headquarters in these countries. Eurostat also reported in 2010 that the agricultural sector employs about 2.1% of the population of the country.
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