New Delhi: The GDP per capita by country is one of the important factors to consider while deciding about the wealthiest nations in the world as it gives us a picture which is very much different from the convenient notion. For example, going by this metric, the United States is neither topping the chart nor is it in the second position since the metric has placed much smaller countries above this powerful in the list. If you are wondering which list we are talking about, you should check out this data from the International Monetary Fund (IMF) which has listed the wealthiest countries in the world as per the GDP per capita.
GDP per capita: 10 richest nations
1. Luxembourg
The country with representative democracy headed by a constitutional monarch boasts a GDP of $88.56 billion among its population of 639,000. The country ensures good healthcare and living standards for its citizens while also being a major tourist destination thanks to its idyllic castles and abundant greenery.
2. Ireland
This island nation in the North Atlantic Ocean may seem like a surprising addition but its GDP is $564.02 billion with a population of 5.03 million. In 2008, it faced a great financial crisis but then the country reformed its banking sector, reduced public-sector wages and also emerged as one of the world’s largest corporate tax havens.
3. Switzerland
Switzerland is famous all over the world as one of the most sought-after tourist places. It has a GDP of $938.46 billion with a population of 8.70 million. While tourism is a major source of its economy, the country has a thriving financial market and is one of the leading exporters of precious metals, instruments, medical devices and machinery like computers. Its GDP mostly depends on the services sector.
4. Norway
The Scandinavian country has a GDP of $526.95 billion with a population of 5.41 million. It is one of the top petroleum providers in Western Europe and has a $1.3 trillion sovereign wealth fund for any urgent crises, the largest in the world.
5. Singapore
Known for its rapid growth in technology and business, Singapore has a GDP of $525.23 billion with a population of 5.45 million and is home to many individuals with a high net worth.
6. United States
Finally, the name that you were waiting for. The US has a GDP of $28.78 trillion and its population is at 332 million. A global powerhouse, it also has one of the strongest armed forces in the world.
7. Iceland
The Nordic island nation with its majestic landscape has a GDP of $33.34 billion with a population of 3.7 lakh. Its market is helped by the low-tax economy and is one of the best nations in terms of quality of life, protection of civil liberties, education, economic freedom and government transparency.
8. Qatar
It is famous for its reserves of natural resources and has the world’s third-largest reserves of gas. Qatar has a GDP of $244.69 billion with 2.93 million population. Its oil and natural gas reserves have increased its wealth, and Qatar is also expanding in other sectors like sports, particularly football.
9. Macao SAR
A special administrative region of the People’s Republic of China, it has more than 40 casinos, which are a major source of its wealth and the reason behind its growing popularity in the tourism sector. It has a GDP of $54.68 billion with a population of 695,168. After the COVID-19 pandemic, its economy has recovered rapidly thanks to its capitalist approach which is different from mainland laws of China.
10. Denmark
Denmark has a GDP of $420.8 billion with a population of 5.86 million. While the Global Peace Index pegs this Scandinavian country in the second position, it is ranked at fourth in terms of standard of living as per Numbeo’s Quality of Life Index. It is self-reliant on its energy and is a major exporter to the European nations. Its GDP is mostly dependent on the services.
Luxembourg, a country with representative democracy headed by a constitutional monarch boasts a GDP of $88.56 billion among its population of 639,000. You will be surprised to know the ranking of this nation. knowledge Knowledge News, Photos and Videos on General Knowledge
