Are you curious to know which is the richest country in the world and why? Here is a list of the top 10 richest country in the world 2019 as ranked by GDP
Wealth and riches can be measured in some many ways and it doesn’t always have to include how much money a country has. In considering how rich a country is, factors like the welfare, security, health, happiness etc are being considered aside from the total money it has.
In this article, the richest country in the world is measured by the gross domestic product (at purchasing power parity – ppp) per capita standard.
This country is considered to be richest country in the world according to GDP per capita. It’s wealth primarily comes from oil and natural gas. Qatar also tries to lie at the forefront when it comes to technical innovation and making themselves independent of fossil fuels in the future. This is also where one of the best airlines in the world has its main base – Qatar Airways GDP per capita : $130,475.
This is a small country that has been ranked rich all thanks to it’s banking and financial services. They also have a strong industry of steel, rubber, and chemicals. And also several of the main headquarters of the EU can be found in the capital of Luxembourg. Luxembourg GDP per capita : $106,705.
Singapore is one of the world’s top financial centers that have become experts and professional in importing products and services to resell. Its GDP per capita: $100,345.
This is a small little sultanate which has become rich thanks to their huge resources of oil and natural gas. Interestingly, Brunei doesn’t have either tax or VAT. Brunei GDP per capita: $79,530.
Ireland is said to be the fifth richest country in the world this because a lot of international companies like google and Facebook have their European offices in Ireland and some other companies are attracted to have Ireland as their base due to tax advantages. So because of this, it has given a huge rise for the Irish economy. Ireland GDP per capita: $78,785.
The Norwegians became rich from oil and fish exportation. They found a huge quantities of oil in the 60’s and they have a capital fund worth 1 billion US dollars. They are wealthy enough that they import workers from neighboring countries such as Sweden for low-skilled jobs. Norwegian GDP per capita: $74,356.
United Arab Emirates
This country is well known for it’s impressive buildings which attracts wealthy people from across the world to visit. For example, the tallest building in the world and the only 7 star hotel, Burj al- Arab . It’s primarily oil that has made the Emirates rich, and in recent years they have also created a financial center as well that have attracted a lot of wealthy people from around the world. UAE GDP per capita: $69,382.
Kuwait has large quantities of oil which is also what makes up the majority of the country’s exports. However, there is one thing they lack which is food and water so they always import those since they can’t produce for it’s population. But that’s not a problem because most people in Kuwait are wealthy and make a lot of money from oil. Kuwait GDP per capita: $67,000
This is another country that has made itself famous for being a financial center and also for it’s banking and finance services that contributes to a larger part of the country’s wealthy economy. Switzerland also source it’s revenue from industries and tourism. Switzerland GDP per capita: $64,649
San Marino is primarily famous for it’s banking sector, and it’s residents are definitely living a wealthy life. Tourism is also contributing to the economy. San Marino is one of the smallest countries in the world, entirely surrounded by Italy. San Marino GDP per capita: $60,602
This list is bound to change because countries keep developing in human development, investment, technology, ease of doing business,security etc.