21 Richest Countries In The World
21. Austria- This destination has a population of about 8.7 million people and a per capita
income of $50,078, and that’s about four times higher than the per capita income for
the person around the world. With it being in perfect proximity to Germany it makes it
an excellent market for steel, iron, and agricultural products. The capital city of Austria is Vienna,
and Vienna is the fifth most abundant metropolis in Europe behind Hamburg, London, and Brussels.
Austria is known as one of the highest standards of living among all the economies in the world.
It is also a significant tourist destination, mainly because of the Alps mountain range
to the west and south. Today Austria is a member of several organizations, such as the
Organization of Petroleum Exporting Countries, and the Organization for Security and Cooperation
in Europe.
20. Iceland- Iceland has a great economy and an unemployment rate below 3%. Iceland is
a Nordic island nation. It’s most popular for its dramatic landscape and volcanoes,
hot springs, and lava fields. In 2012 the life expectancy here was 82 years old. The
economy is small here because it's not that big of a place and doesn’t have a vast population.
There are only a little more than 330,000 people living here. It has a mixed economy
with high levels of government intervention and free trade. Iceland does some things different
than the rest of the world because it is such a unique place, the primary source of power
and mechanical energy is Geothermal power.
19. Germany- It has a population of a little more than 81 million people. It is the most
populated nation in the European Union; it possesses one of the largest economies in
the world. The economy here is entirely based on exports. Germany defeated in the two world
wars of the twentieth century and left the country divided. Its economy is one of the
largest in the world and is also one of the globe’s leading importers and exporters.
Telecommunications, tourism, and healthcare are all great contributors to the economy.
The majority of the population are ethnic German, with Turks. Germany is one of the
world’s most popular migration destinations, which makes sense because they produce some
of the world’s leading figures when it comes to natural social sciences, as well as the
arts. Germany holds some very popular festivals, the most notable being the yearly Oktoberfest.
18. Australia- Australians have had the highest median wealth in the world for five years.
The wealthiest ten percent of people share only fifty to sixty percent of the nation’s
capital. Considering there are just 22 million people living in Australia, the ranking is
pretty impressive. Australia makes up four percent of the world’s millionaires with
over one million people falling into the high-class category. This country is also very rich in
minerals such as aluminum, gold, nickel, diamonds, silver, and natural gas. They are also one
of the largest food producers in the world, and the food is almost entirely based on local
products.
17. Sweden- The Kingdom of Sweden is one of the largest countries in the European Union
by land mass. Capital city Stockholm was claimed in the sixteenth century, and border through
the Middle Ages established the modern-day nation. For centuries Sweden has remained
neutral in times of war. Their commitment to human rights and public service, it has
helped to make it a respected leader in international affairs. There are plenty of generous people
in Sweden; they donate one percent of gross national product to humanitarian aid programs
each year. They have a population of almost ten million people. In 1995 Sweden joined
the European Union but refused to convert to the eurozone currency after a public vote
in 2003.
16. Bahrain- Located off the east coast of Saudi Arabia, a collection of a few dozen
small islands make up the Kingdom of Bahrain. It is one of seven Arab states that border
the Persian Gulf. This unique place is known for the water surrounding it; its name means
“the two seas.” in 1932, it was the first place to discover oil off of its shores in
the Persian Gulf.
15. The Netherlands- With a per capita GDP of $50,898 and 16.8 million people living
in this country, the Dutch are way more than just a tulip country. Most of its success
comes from three major things: agriculture, mining, and manufacturing. Many people aren’t
aware that the Netherlands is actually a kingdom of four countries but the Netherlands makes
up 98% of the total land area in the Kingdom.
14. Saudi Arabia- Saudi Arabia possesses eighteen percent of the world’s petroleum reserves
and ranks as the largest exporter of petroleum. Saudi Arabia is just one of many oil-based
economies with powerful government control over major economic activities. It has a per
capita of $54,430. The petroleum sector is responsible for almost all of Saudi government
revenues and export earnings. Other than owning the largest petroleum reserves in the world,
it's per capita income is much smaller than that of the smaller Persian Gulf neighbors.
13. United States- Although most nations on this list have smaller populations, the United
States is home to more than three hundred and twenty-five million people. It's impressive
that the world’s largest economy can maintain a per capita of $57,467, considering it has
such a large population. A key reason behind its success is due to its large domestic automotive
industry, a system of democracy that helps protect entrepreneurial property rights, and
last but not least a great technological sector that foster innovation. It is also in the
middle of its longest economic expansion since 1850. The United States has also had unemployment
rates remain low while growth driven by spending and investment have the country’s economy.
12. Hong Kong- Hong Kong’s growth rate has slowed down in 2016, but it remains as one
of the wealthiest countries in the world. Its the fifth richest country in the world
and is located on the southern coast of China. A reduction in tourism and global trade from
mainland China led to lower growth last year. Although spending is expected to lead Hong
Kong’s growth rate. It has picked up this year in 2017 and is expected to rise. Something
very interesting about Hong Kong is that they have their own currency, but arms defense
services are provided by China. Currently, the territory has a population of more than
seven million.
11. Switzerland- There are eight million people living in this country. Switzerland was recovering
after its central bank loss of $52 billion back in 2015. It has been reported that the
country growth reached 1 ½% in 2016. Switzerland has also been implementing policies to boost
its economic recovery. Traditionally Switzerland is at the top of the global list but was bumped
down by the US in the report’s ranking of net per capita financial assets.
10. San Marino- This country has nearly nine million people that live here. It is currently
in recovery mode as employment rates continue to rise and domestic and external demand are
helping to lead to growth in San Marino’s GDP after a recession. Their current per capita
is $60,360.
9. United Arab Emirates- The United Arab Emirates stands as one of the richest countries in
the world, with a high economy pushed by the oil market. Lower oil prices and output led
to a lack of growth for the country in 2016. Although non-oil growth in the United Arab
Emirates is expected to rise in future years. It is also the third largest country in the
Middle East. This unique place has a population of just over ten million people.
8. Norway- This nation has a per capita of $59,302 and has a population of 4.97 million
people to benefit from the small yet robust economy. This beautiful place is driven by
fishing, natural resources, and major petroleum exploration. Norway is also the eighth largest
exporter of crude oil in the world and the ninth largest exporter of refined oil, and
third largest exporter of natural gas in the entire world. The GDP and population ratio
makes this country one of the wealthiest nations on the planet.
7. Ireland- Ireland has a per capita income of $68,883 and has a population of about 4.8
million people. The leading industries that boost its economy are mining, textiles, and
food staple products. Ireland has by far the lowest standard rate of corporation tax on
manufacturing among the advanced economies. Their recovery in 2014 was the strongest in
the Euro Area and similar across the two measures with growth rates of GDP and GNP with five
percent as domestic demand was a solid contributor to economic growth.
6. Kuwait- Kuwait is kinda small and relatively open economy, and its citizens enjoy a per
capita GDP of $73,817. The Kuwait dinar currently has the highest valued currency unit in the
entire world. It has nearly 10% of the world’s oil reserves. Also, the petroleum accounts
for nearly half of GDP and 95% of export revenues as well as government income. In recent years
they haven’t done much to diversify its economy due to a positive fiscal situation.
5. Brunei- This is a small country with a wealthy economy that is both a mixture of
both foreign and domestic entrepreneurship, welfare measures, and government regulation.
It has a per capita of $77,441 and is almost entirely supported by exports of crude oil
and natural gas. Just like other oil countries, the government has shown progress in diversifying
the economy away from only oil and gas.
4. Singapore- This tiny city-state has a per capita of $87,856, this is five times the
average income for an ordinary individual in the world. The main part of the country’s
wealth is its financial services sector, its liberal economic policies, and a chemical
export industry. Singapore has the 2nd busiest port in the entire world; it exports $414
billion worth of goods almost every year. Singapore is a favorite tourist spot because
it consists of sixty-three islands.
3. Macao- This is the gambling center of China, it is the only place in China where gambling
is legal. Casino bosses are investing in high-end shopping malls, lavish hotels, and fancy performance
shows because the region is trying to diversify into a more family-friendly tourist destination.
They have more than thirty casinos, including the world’s largest one, the Venetian. Which
had a whopping 120,000 visitors a day in 2013. This country is benefiting from the many middle
classes in China as the wealth and influence continue to rise. Around seventeen million
tourists from mainland China visited Macau last year. Almost half of all the visitors
this area gets most of them only stay for 24 hours.
2. Luxembourg- This country is a symbol of wealth due to its per capita of $105,882,
which is nine times the world average. The backbone of the strong economy this country
has is its financial sector. It has dynamic industrial and steel industries. The most
massive sector in Luxembourg is the banking; it is the largest sector of its economy with
an asset of over $1.24 trillion alone. A fun fact about this unique place is that it is
known as a tax haven, many people want to live here to get rid of expensive tax in their
native countries.
1. Qatar- Qatar ranks number one on the list of top ten richest nations in the world because
of its high GDP per capita, which is $127,523. This country has a very well developed oil
exploration industry, and the petroleum industry accounts for seventy percent of its government
revenue, sixty percent of its GDP and eighty-five percent of its export earnings. Because of
the country's wealth and economic success, it has been chosen to be the host of the 2022
FIFA World Cup; this will be the first Arab nation to ever hold this event. However, Qatar
is the most controversial country because of its forced labor from countries throughout
Asia and parts of Africa.