The Richest country in the world is typically measured based on the GDP per capita or Per capita income of the country and not based on the total GDP of the country. When we talk about the richest country tag then we focus on the average income generated per person in that country in a financial year, not the total income generated by the country. United States is the biggest economy in the world with a GDP of $25.43 trillion but USA is not the richest country due to its population. Luxembourg is the richest county in the world with $1,25,000/- GDP per capita. Still, if you notice the total GDP of Luxembourg then it’s only $85.76 Billion that’s far low in comparison with the USA but in the measurement of GDP Per capita or income per capita, population plays an important role. Here population includes both newborn to old age people.
Top 10 Richest Country in The World by GDP per capita (on PPP basis)
- Luxembourg
This Stunning landlock European country is the richest country in the world with $143,740 GDP per capita. Luxembourg is a small country with a 2,586 square KM area having a population of over 6.39 lakh.
Total GDP (PPP)- $88.56 Billion
Total Population- 6.39 Lakh
GDP Per Capita- $143,740
2. Macao SAR
Macao SAR is renowned for its gaming and gambling business like Las Vegas, it’s a special administration region under the Republic of China like Hong Kong. Macao SAR works like an autonomous country for political and economic purposes but it remains under China’s jurisdiction.
Total GDP (PPP)- $54.68 Billion
Total Population- 6.95 Lakh
GDP Per Capita- $134,140
3. Ireland
Ireland is the third largest island in Europe and one of the most demanded tourist destinations in the world. Ireland is known for its Magnificent scenery of Atlantic coastline. Dublin is the capital of Ireland and the most populated city in Ireland.
Total GDP (PPP)- $564.02 Billion
Total Population- 50.3 lakh
GDP Per Capita- $133,900
4. Singapore
Singapore is one of the fastest-growing countries in the world and is also known as the Republic of Singapore. It’s an Island country located in Southeast Asia. Singapore has one of the busiest ports in the world and this is the reason for the boost in Singapore’s economy. Singapore’s Financial market is very strong and world-renowned. Singapore is the fourth richest country in the world.
Total GDP (PPP)- $525.23 Billion
Total Population-54.5 Lakh
GDP Per Capita- $133,740
5. Qatar
Qatar is a Middle Eastern Arab country with one of the highest oil reserves. Doha is the capital of Qatar and is famous for its futuristic skyscrapers and modern architecture. Qatar is an Islamic state and the architecture in Qatar is inspired by Islam. Qatar’s economy is highly dependent on its Oil exports.
Total GDP (PPP)- $244.69 Billion
Total Population-29.3 Lakh
GDP Per Capita- $112,280
6. United Arab Emirates (UAE)
United Arab Emirates is a union of 7 emirates states, including, Abu Dhabi, Dubai, Sharjah, Ajman, UMM AI Quwain, Ras AI Khaimah, and Fujairah. The capital of UAE is Abu Dhabi and it is the most developed and prosperous emirate in UAE. Traditionally UAE is highly dependent on its oil reserves but now they are focusing on making UAE a Commercial and logistic hub for the world economy.
Total GDP (PPP)- $527.8 Billion
Total Population-99.9 Lakh
GDP Per Capita- $96,850
7. Switzerland
Due to its stunning landscape and pleasant weather, Switzerland is one of the most demanded tourist destinations in the world. Switzerland is the third best country to live in due to its political stability, high standard of healthcare, and prominent education system.
Total GDP (PPP)- $938.46 Billion
Total Population-87 Lakh
GDP Per Capita- $91,930
8. San Marino
San Marino is a landlocked European country and one of the best countries to live in. It’s surrounded by high hill mountains and lush green forest. San Marino is a great tourist destination in the world due to its stunning landscapes. The San Marino economy depends on tourism, the financial sector, and manufacturing.
Total GDP (PPP)- $2.03 Billion
Total Population-33,580
GDP Per Capita- $86,990
9. United States
The United States is the biggest economy in the world and the biggest commercial and trading hub for the world economy. The US economy depends on the financial sector, manufacturing, technology, services and trading. The US dollar is considered a universal exchange currency and that’s the major reason for its success.
Total GDP (PPP)- $28.78n Trillion
Total Population-33.2 crore
GDP Per Capita- $85,370
10. Norway
Norway is a well-developed and mixed-economy country located in Northern Europe. Norway is the 4th best country to live in due to its quality of life, highly efficient admiration, healthcare facilities, and education system. Norway is a mixed economy means public and private players both play a crucial role in the country’s economy. Norway’s economy depends on fishing, petroleum, and hydroelectric power.
Total GDP (PPP)- $526.95 Billion
Total Population-54.1 Lakh
GDP Per Capita- $82,830
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