This article is about which countries in the world can call themselves the wealthiest in terms of GDP (PPP) per capita – because it is in fact in this way that one measures the wealth of a country.
Speaking of the world’s richest country, there are guaranteed to be many people that want to throw countries like the USA and China overboard. And although we also often hear about people from those countries, who earn more than most of us and have dollar signs in their eyes, it is neither the western USA or the eastern China who are on the top of the list of the richest countries.
Why? Because even though both the USA and China have big economies, their GDP per capita becomes lower quickly as we divide their GDP by their population.
GDP stands for gross domestic product, and it is the value of the products and services that the country manufactures in one year. To find the GDP per capita, the GDP is then divided by the population of the country. This calculation gives the standard measurement of how much money each person in the given country produces.
Thus, one can connect the GDP of a country and the level of the standard of life of the population, even if the income naturally varies from household to household.
But without further ado, we will now, in the best MTV-manner, start the countdown of the top 10 richest countries as of 2019 – do you think you have the right answers? Keep on reading and see, if you know more or less than you think about the world economy.
10. San Marino (63,414 USD in GDP per capita)
San Marino sounds of sun, tasty wine, and amazing environments, and that is what you can expect to meet you in the little country in northern Italy.
Besides their vast export of textiles, electronics and wine, their source of income also depends on tourism.
San Marino is the perfect example of quality over quantity. With a population of only 33,000, most of the nations outnumber them.
Did you know…
San Marino is the fifth smallest country in the world.
9. Switzerland (71,943 USD in GDP per capita)
We are quite sure it is not the first time that you’ve heard that Switzerland is a wealthy country – and this is not the last time either.
Switzerland has been comfortably placed on this list for many years, so do they have to be fighting to keep their placement?
Apart from being known for their banking industry, Switzerland is also known for their watches, chocolates and their unique, idyllic scenery – it is also these characteristic features that are bringing the money home.
Did you know…
Switzerland is seen as the country where most people live until they are 100 years old, or more.
8. Kuwait (64,712 USD in GDP per capita)
Kuwait is a small, dry, and oil-filled country – with a thick, bold line under oil-filled. With an almost 90% share of the total export income of the country, we can calmly say we’re sure that oil fills a big part of the tiny country.
The vast amount of oil they can export gives them the possibility to import both water and food – and so it doesn’t matter that the country is mostly covered in sand and desert.
Did you know…
Kuwait is one of the few countries where men live longer than women on average.
7. The United Arab Emirates (73,878 USD in GDP per capita)
The United Arab Emirates consists of a total of 7 emirates – and you have definitely heard of the most talked about of them: Dubai and Abu Dhabi.
Common for all the 7 emirates is the fact that their greatest source of income is oil. The oil industry is so successful thus far that the healthcare, military and education of the country is paid by the profits of this industry.
Did you know…
Although the country is one of the wealthiest today, the country was flooded with poverty until the 1950’s, when black gold (the oil) was found.
6. Ireland (75,648 USD in GDP per capita)
When someone says Ireland, you may associate it with clovers, Irish pubs and St. Patrick’s Day. However, the Irish economy has taken a really huge leap the last decades, and is therefore now in 2019 placed on 6th spot of the richest countries of the world.
The biggest source of income of the country might not be surprising – it is, as a matter of fact, companies with addresses in other countries, that are the trump cards, that contribute to Ireland’s powerful economy.
Did you know…
Ireland is the home country of the place Muckanaghederdauhaulia. It is the longest name for a place in English. Try saying it 10 times – fast. Or just one single time correctly!
5. Brunei (78,836 USD in GDP per capita)
You’re not that into taxes? If so, Brunei is your next home country. Here the residents actually get out of paying both taxes and VAT – and if you think there is a darker hidden side to this, think again. Even though the population does not pay much in taxes to the government, it still helps you with both free healthcare and education.
Brunei is active within the oil and natural gas industry. And it is also that which secures their position in 5th place in this list.
Did you know…
In Brunei, they point with their thumb instead of their index finger – out of plain politeness?
4. Singapore (93,905 USD in GDP per capita)
Singapore is one of the world’s most densely populated countries, but although they virtually live on top of each other, they don’t complain about their national income.
Their wealth mostly comes from the manufacturing industry, and Singapore has made it their speciality to import products and make them better than they actually are, and thereafter export them out of the country.
Now that’s an ecosystem of efficiency!
Did you know…
Singapore is said to have the fastest walking people in the whole world. An English study shows that Singaporeans walk about 6.15 km/h.
3. Luxembourg (103,745 USD in GDP per capita)
Luxembourg is a very small country but has a huge influence in many areas – especially with some EU-glasses on.
In Luxembourg, they have a very low unemployment rate and the economy of the country continues rising and rising. The income of the country is mainly based on big industries, such as steel, rubber, and the banking industry.
So, do not let yourself be fooled by its size – after all, this country has been placed in a well-deserved third place!
Did you know…
Luxembourg has the restaurant with the longest wine list in the world: 2,200 different kinds of wine. Small is not exactly the right word to describe this collection.
2. Macau (115,123 USD in GDP per capita)
Macau… Maybe you have heard of it before, or maybe not. What you might think is a half-empty island in the middle of nowhere is actually a country with 600,000 inhabitants and is located on a peninsula in the southern part of China.
Macau’s greatest source of income maybe comes as a shock. Because besides their big export of fabrics and footwear, their biggest source of income actually comes from betting and casino activities. Many foreign companies have in fact chosen to have their licences here.
We believe that it’s better to be small and nimble than big and idle!
Did you know….
Macau earns 3 times as much on casinos as Las Vegas.
1. Qatar (128,374 USD in GDP per capita)
And now we have reached the first place on the list of the richest countries of the world, and if you have paid some attention over the past few years, it might not come as a surprise at all.
The economy of Qatar has grown. And grown. And grown. And it is primarily the rising oil prices over the last few years that take the credit for this.
Did you know…
There are more than 180 different nationalities living in Qatar. It is actually only 10% of the population that are born in the country.
And so, we have reached our goal. And what a ride. Maybe you want to move to the country that has the longest place name in English, or to the country where you have a greater chance to become 100 years old? Anyway, you now know which countries you want to keep an eye on when we talk about GDP, economy and fun facts (at least, we can ensure we have given you this!)
Do you know where your country falls on this list?
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