What is the richest country in the world?
When you think of of the richest country in the world, your mind might conjure up images of Beverly Hills mansions or Chelsea townhouses.
But, you’d be wrong.
Although some countries on the top ten rich list can be expected, you should prepare yourself for a few surprises.
Here is all you need to know about the richest country in the world.
What is the richest country in the world?
According to WorldAtlas, Luxembourg – a small European country bordered by Belgium, Germany, and France – is the richest country in the world.
With its inflation rate at only 1.1%, its wealth is also extremely stable.
This is based on the latest Gross Domestic Product (GDP) data results.
GDP is an evaluation of a country’s goods and services. Experts look at export revenues, population income, consumption, and the amount of goods and services generated within the country.
This is then usually divided by the population of the country to give the average GDP per capita – this is not the average wealth or income of a person who lives there.
While this is not the only way we can measure a country’s overall wealth, it has proven to be popular amongst governments across the globe who are keen to keep track of economic growth.
What is the richest country in the world?
According to WorldAtlas, the top 10 richest countries in the world are:
- Luxembourg – $120,962 (£91,769)
- Singapore – $101,936 (£77,335)
- Qatar – $93,851 (£71,201)
- Ireland – $87,212 (£66,164)
- Switzerland – $70,276 (£53,316)
- United Arab Emirates – $69,957 (£53,074)
- Norway – $67,978 (£51,572)
- United States – $65,279 (£49,525)
- Brunei – $64,724 (£49,104)
- San Marino – $61,006 (£46,283)
According to the World Economic Forum, the primary factor for Luxembourg’s high GDP is the large number of people working in this tiny, landlocked nation while residing in the neighboring western European countries.
How rich is the UK and where is it on the country rich list?
According to latest data, the United Kingdom finds itself number 24 on the world’s country rich list with a GDP per capita of $36,746 (£27,878).
This is below places such as Belgium and France, but is still richer in comparison to Italy and New Zealand.
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