In other words, if you are an American and your income is a fraction of the average GDP per capita, it is fair to argue that someone else is probably eating your proverbial lunch. Spain: $2.216 trillion (up 11.7%) 22. But besides that, Qatar is a global financial hub and tourist destination. Formerly a colony of the Portuguese Empire, since the gaming industry was liberalized in 2001 this special administrative region of the People's Republic of China has seen its wealth growing at an astounding pace. San Marino is located on the Italian Peninsula. 9. Forecasts for 2022 are somewhat more conservative, standing at about 5.2%, although most nations can only dream of achieving such a level of growth. For example, the United States' GDP per capita in 2019 was $65,279.50, but its average annual wage was $51,916.27 and its median wage was $34,248.45. Profiles of Prosperity: 5 of the Richest International locations within the World* Editor's Choice: 14 Poorest Countries in Europe 2022 - The Teal Mango The twenty-third richest country in the world is the small Northern European nation of Finland, with a GDP per capita of USD 58,010. Source: International Monetary Fund, World Economic Outlook April 2022. There are various ways to determine how wealthy a particular country is. San Marino is a tiny country in Europe and is completely landlocked by Italy. Historically, Israel has had a massive influence on global religion and politics and continues to influence the world today. Oil and gas brings in billions of dollars to the nation. Following some politically difficult reform measures like deep cuts to public-sector wages and restructuring its banking industry, the island nation regained its fiscal health, boosted its employment rates and saw its per capita GDP almost double in a short amount of time. Ranked from number one, which is considered the richest Country in the world, this year, to the 40th most wealthy country in the world. The main economic activities include wholesale and retail trade, transportation, and tourism. It has a GDP per capita of USD 50,410. Related: The top 10 most populated countries in the world. *Hong Kong is an autonomous territory of China. For those of you who are not familiar with Macao SAR, the Macao Special Administrative Region of the Peoples Republic of China, is a 118 km2 independent region on Chinas southern coast. As western Europes top petroleum producer, the country has benefitted for decades from rising prices. Qatar is the richest country in the world today. It is known for brands such as Asus, Acer, and HTC. It borders Norway to the west and Finland to the northeast. Its main industries are mixed and export heavy, of which the main outputs are timber, hydropower, automotive products, and arms. Sweden GDP: $62,926 Top Economic Activities: Hydropower, Timber, and Iron Ore Sweden is a magnificent country located in Northern Europe. Its main industries include automotive, telecommunications, and technology. With a considerable gap between the richest and poorest (the top 20% of the population earns almost five times as much as the bottom 20%) most families would balk at the idea that they are wealthy. according to International Monetary Fund estimates [1] Countries by nominal GDP in 2019 [n 1] > $20 trillion. To this day, Macao is the only country on the list whose per-capita purchasing power is lower than it was before the start of the pandemicabout $125,000 in 2019, down by $40,000 today. The United Kingdom, or Britain, has historically maintained a high-profile position as one of the worlds most powerful and influential countries and economies. Lets take a look at the top 50 richest countries according to GDP per capita. It borders the Netherlands, Belgium, Luxembourg, and France. Malta has a thriving port due to its convenient location on the sea and proximity to the Suez Canal, making it a popular refueling stop for foreign freight ships. This Family is led by King Mohammed VI, who became the king in 1999. When the city-state became independent in 1965, one-half of its population was illiterate. Should we automatically assume that in nations where this figure is particularly high the overall population is visibly better off than in most other places in the world? The Czech Republic is not only one of the most culturally rich and historic hubs in Central Europe, but it is also one of the richest countries in the world, with a GDP per capita of USD 47,530. Nonetheless, a high GDP doesnt necessarily mean that all citizens are doing well. No one would have guessed this small landlocked Western European country would trump major economies like the USA and China. Plus, there are many other treasures that money can't enable, including love, trust, friendship, and spiritual peace. India, the country with the third most billionaires, added 26 people to the three-comma club this year. The Czech Republic 37. Taiwan is also a top exporter of semiconductors. South Korea According to the IMF, this will have the tenth-largest economy in the world by 2020-21. The United Arab Emirates is a country in the middle east and the seventh on the list of the richest countries in the world with a GDP per capita of USD 78,260. As billionaire wealth accumulates at a remarkable speed, we feature a snapshot of the world's richest in 2022, based on data from the Forbes Real-Time Billionaires List. With one of the largest economy in the world and a GDP per capita of 67,803.0, Denmark has made its place among the top 10 richest European countries. GDP per capita (PPP): $67,475. Find out! With a population of just 460,345, Brunei also has one of the lowest national debt to GDP ratios at 2.86%. Lithuania is a small Baltic state with a population of just 2.8 million. As of 2019, Qatar has a population of 2,988,066 people. Some of the biggest losers include oil magnate Vagit Alekperov and Alexey Mordashov, previously the richest person in Russia. Iceland also exports significant amounts of hydropower. They now hold over four times more wealth than the roughly 165 million Americans in societys bottom half. The Netherlands ranks as one of the wealthiest countries in the world, with a GDP per capita of over $68,000. Switzerlands free trade culture has contributed to manufacturing most of its products in-house. Obviously, you dont want to be forced to move to a place that doesnt provide the, Read More Why You Should Consider Investing in Wake County Real EstateContinue, The cost of living in the United Kingdom is higher than in the United States, in many cases. Outside the traditionally dominant hydrocarbon sector, tourism and construction, as well as trade and finance, are major industries. Guyanas economy took a sharp turn in 2015, with the discovery of a large oil reserve in the countrys marine territory. Other billionaires with. The defense is the responsibility of the United Kingdom. Luxembourg may be only 2,586-square-kilometres (1,000-square-miles) in size, but as the world's second-smallest country, it remains the first when it comes to wealth. Some would be surprised to find out that many of the wealthiest nations are also amongst the tiniest. Hes Just Getting Started. Besides that, it is a significant tourist destination, home to countless historical landmarks and museums. For example, many nations in our ranking are tax havens, which means wealth originally generated in other countries ends up inflating their GDP because of sophisticated accounting and legal practices. These findings are based on the gross domestic product per capita values of the countries. The country has a GDP per capita of over $78,000 and has become a major financial centre and tourist destination. Consequently, the Netherlands is often considered one of Europes best places to live. When it comes to gross domestic product (GDP) per capita (GDP divided by the total population), the order is a little different than you would expect superpowers like the United States, China, and the UK are not necessarily in the lead. The gross domestic product per capita in the country is $58.15. Moreover, an unfavorable financial status can be a major source of stress, anxiety, or depression. But also the computer mouse, the immersion blender, velcro and LSD. Based on the GDP, this post will explore the top wealthiest countries as per 2022 World Bank Nominal GDP Forecasts. It just helps to right-size the profits. The small and picturesque Mediterranean island nation has a GDP per capita of USD 54,650. Macao is one of the richest countries in the world, with a GDP per capita of over $114,000. The Top 10 Richest Countries in the World (by GNI per Capita, Atlas Method, current US$ - World Bank) Liechtenstein - $116,440 Switzerland - $84,310 Norway - $78,180 Luxembourg - $73,500 United States - $64,530 Ireland - $64,150 Denmark - $63,070 Iceland - $62,420 Qatar - $56,210 Singapore - $54,920 His fortunederived from the immense reserves of oil and natural gas of the countryis estimated at about $30 billion, roughly 50 times that of Britain's Queen Elizabeth. Poland is number forty-three on the list of richest countries in the world, with a GDP of USD 41,680. While innovation and entrepreneurship are on the rise, a distinct disadvantage is that a large chunk of dividends is paid to foreign owners. As of 2019, Singapore has a population of 5,638,700 people. The country is followed by Singapore ($113,128) and Ireland ($107,166) in the second and third place, respectively. The countrys large oil and gas reserves mainly contribute to its economic success. It is a leading exporter of agricultural products, raw materials, and manufactured goods including cheese, wine, gold, timber, and light crude oil. Brunei is the eight richest country in the world in 2022, with GDP per capita $64,405. Here's a sneak peek at the top 10 as of October 2021 (scroll down for the full list): Developing countries often have deficient infrastructures and immature economies, which can put their citizens and corporations at a substantial disadvantage when competing in a global market. It borders the South China Sea to the south and has a population of 7,447,000. Some of the larger cities have, Read More The 20 Cheapest Places to Live in EnglandContinue, Do you live in a happy city? Qatar is the richest country in the world, with a GDP per capita of over $100,000. You can visit Luxembourg for its castles and beautiful countryside, its cultural festivals or gastronomic specialties. Tory Burch. The current pandemic has brought a new element of fear into the world, and we could, Read More The 20 Happiest Places to Live in the WorldContinue, If you are looking for ways to make money through real estate investments, you are in luck. Fishing is another formidable industry in this country that employs a large number of its citizens. The Swedish have free healthcare, civil services, education, and high levels of wage equality. That sums up the Bahamas, number forty-six on the list of richest countries in the world. 1. This year, however, wont be as rosy (growth is expected to stay at about 1.7%), as the effects of the war in Ukraine, along with higher energy and food prices, are expected to impact business and consumer confidence and consumption. Factors such as these are why developing nations are more likely to appear on the list of poorest countries in the world, at least for now. Norway - $67,389. Norway - US $ 81,995 GDP per capita. There are more people distributed over a smaller portion of land. Subscribe Now; Browse Topics. Switzerland: $737.8 billion (up 9.5%) 36. Stefano Gabbana. All this money, however, could not shield the Swiss economy from the effects of Covid-19: in 2020 production declined by 2.5%. Germany is no doubt one of the richest countries in the world It is the leading manufacturer in Europe and a world-class exporter of vehicles, chemical goods, and electronic products just to name a few, with exports accounting for 41% of its national exports. It borders the South China Sea to the south and has a population of 23,874,000. list of all countries in the world today. Ireland has a GDP per capita of USD124,600. In addition, the country is regarded as having one of the world's fastest-growing economies. 2. Lebanon-2022 GDP Per capita $6,168. It is one of the fastest-growing economies in the European Union. Taiwan is a multi-island country located in East Asia. GDP Per Capita: $140,694. Which country are you reading from? Whats more, it has the fourth-largest economy in the world. Denmark. Not quite. It ranks among the wealthiest countries in the world, with a GDP per capita of over $77,000. In short, a lack of money can severely hinder one's ability to afford the fundamental "must-have" things human beings need to get by, let alone luxury items. For reference, Ireland's GDP in 2017 was $70,220 US$. Many of the world's richest countries are also the world's smallest: the pandemic barely made a dent on their huge wealth. The capital and largest city is Bandar Seri Begawan. United States - $63,543. There you have it, the list of the top 50 wealthiest countries in the world. It also has vibrant industries in banking and other financial services. Top Economic Activities: Hydropower, Timber, and Iron Ore, Top Economic Activities: Mechanical Engineering and Automotive Industries, Top Economic Activities: Finance, Tourism, and Agriculture, Top Economic Activities: Fishing, Aluminium Smelting, and Technology, Top Economic Activities: Service, Manufacturing, and Technology, Top Economic Activities: Banking, Tourism, and Manufacturing, Top Economic Activities: Oil and Gas, Banking, and Manufacturing, Top Economic Activities: Service, Manufacturing, Oil and Gas, Top Economic Activities: Oil and Gas, Fishing, and Tourism, Top Economic Activities: Oil and Gas, Banking, and Tourism, Top Economic Activities: Gaming, Tourism, and Banking, Top Economic Activities: Agriculture, Tourism, and Fishing, Top Economic Activities: Information Technology, Manufacturing, and Banking, Top Economic Activities: Banking and Industry, The 20 Worst Cities To Live in America in 2019, Why You Should Consider Investing in Wake County Real Estate, The 20 Cheapest Places to Live in England, The 20 Happiest Places to Live in the World, How One Couple Created a Profit of $63,000 on a Property They Never Saw, The 10 Richest Countries in Latin America, country owes its riches to large oil and gas reserves, Seven Reasons to Take an Antarctic Expedition Cruise on Vikings New Polaris, The 10 Best Selling Thriller Books of All-Time, The 10 Worst Neighborhoods in Philadelphia in 2022. $10-20 trillion. It is the thirty-seventh richest country in the world in 2022, with a GDP per capita of USD 48,440. For these countries, a significant amount of what registers as GDP may actually be money that international companies are funneling through that country, as opposed to income that is actually staying there. This map breaks down the top 25 richest countries in the world. The GINI index is significant because it can help identify countries with a large gap between the richest and poorest citizens. Factors such as these are why developing nations are more likely to appear on the list of poorest countries in the world, at least for now. According to Census, the United States population is estimated to be 332,998790 people. Luxembourg. Iceland, an island country in the north of the Atlantic Ocean, is the 15th richest country in the world. You have entered an incorrect email address! There is an incredibly high chance that you have heard the phrase, "Money cannot buy happiness." 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