Top 10 Richest Countries In The World
In today’s ‘top 10 list’, we are looking at the top 10 richest countries in the world by per capita income (determined by the International Monetary Fund 2016). The list is based on gross domestic product at purchasing power parity per capita.
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10. San Marino
San Marino is the smallest republic of the entire world, yet most people don’t know it exists. It has a population of 33400 and the majority language spoken is Italian. It has landed a spot on our top 10 list with a GDP (PPP) per Capita of $64,443.
Switzerland is number 9 on the list with a GDP (PPP) per Capita of $59,561. Switzerland (officially the Swiss Confederation) is a top spot for expats, and it’s no surprise, with their excellent health service and great public transportation.
8. United Arab Emirates
This should not come as a surprise. United Arab Emirates, known for one of the best airlines in the world, and home to one of the fastest growing cities in the world, Dubai. When thinking of United Arab Emirates, luxury definitely comes to mind, and it’s no surprise they’re number 8 on this list with $67,231 GDP (PPP) per Capita.
You may be surprised but Ireland is on this list of the richest countries. With an impressive GDP (PPP) per capita of $69231. The main industries that give its economy a boost are textiles, food production and mining.
A country that gets over 90% of its electricity from hydroelectric power, Norway is a Scandinavian country full of mountains, glaciers, and greenery. It’s $69,249 GDP (PPP) per capita is driven by fishing, natural resources and natural gas.
Kuwait is a country located in Western Asia on the tip of the Persian Gulf. It’s neighbors with Iraq and Saudi Arabia. It is a relatively small and open economy which enjoys a $71,887 GDP (PPP) per capita. It also has the highest value currency.
Not many people would think that Brunei is one of the richest countries in the world, but Brunei boasts an impressive $76,884 GDP (PPP) per capita. Brunei is a sovereign state found on the north coast of the island of Borneo, which is located in Southeast Asia. Its economy is supported by crude oil and natural gas. However, like other oil rich countries, it has shown some progress in moving the economy away from just oil and gas.
Singapore is a tiny state which has an impressive $87,855 GDP (PPP) per capita, this is 5 times the world Average. The country owes its success to an impressive outlook on business that promotes growth and innovation. The country also chemical export industry and financial sector.
Luxembourg is a symbol of wealth. It is a landlocked country neighboring Belgium, Germany, and France. Its financial industry is a thriving one which accounts for its incredibly high GDP (PPP) per capita of $104,003.
If wealth is power, then Qatar has a lot of it. With a GDP (PPP) per capita of $127,660, Qatar owes a lot of this to a well-developed oil exploration industry. Its petroleum industry alone accounts for the majority of its government revenue.