Richest countries in the world in 2024. A list of the 25 countries with the highest per capita income. In this article, we have provided comprehensive information regarding the Richest country in the world. Continue reading if you want to learn more.
Top Richest Country in the World 2024
On the list of the Richest countries in the world, you’ll find names like the United States of America, Qatar, and Norway, amongst others; yet, the top spot on this list is still held by a rather small region. The gross domestic product (GDP) per capita is an estimation of a country’s economy on an individual basis. Although this provides the most accurate data, it does not illustrate how wealth is distributed. GPD stands for gross domestic product.
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Many factors, including price structure, average income per person, and others, are evaluated in order to determine which businesses should be placed at the top of the list. If you want to rent an apartment in a wealthy nation, it will cost you five hundred dollars per month, but in a developing nation, the same amount of money could get you the rent on a palace.
The Grand Duchy of Luxembourg, a very small country located in Western Europe, takes the number one spot on this particular list. It is a country that is completely surrounded by land, and its neighbors are Belgium, Germany, and France.
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Luxembourgish is the official language of this country; nevertheless, French and German are also recognized for usage in the government and the judicial system. With only 2586 square kilometers of land, it is one of the smallest countries in Europe in terms of area. This nation also has one of the lowest populations seen anywhere in Europe. It is a developed country that also has the highest GDP per capita in the world. This nation was one of the original founding members of the Benelux, the OECD, the United Nations, and the European Union.
Top 25 Richest Countries List 2024
The GDP of India is likewise rather strong, but the country’s population is very large. If a country wants to make it onto the list of the Richest countries, it needs to have a smaller population. This post will provide information about the top 25 Richest countries in the world for you to read about.
Luxemburg, which is at the top of the list, has a GDP that is equivalent to 140,694 dollars for each individual. Its low population of 645,397 people ensures that it will remain on this list. This nation is responsible for the production of a significant amount of steel. Offices of prominent corporations such as Amazon and Skype can be found in this city.
With a GDP per person of 131,425 dollars, Singapore comes in at number two on this list. Additionally, the headquarters of the Asia-Pacific Economic Corporation is located in this nation, which has extremely competitive tax rates. This country has a total population of 5,453,566 people. It is the Richest nation in all of Asia.
The Republic of Ireland is still ranked third overall, but it leads the pack when it comes to foreign direct investment. Ireland has a GDP of 131,034 dollars distributed among its population. For the sake of improved development, our nation places a primary emphasis on high-tech, life sciences, finance, and other service industries. It has an economy that is expanding at the fastest rate. The country’s gross domestic product has more than doubled in the last ten years.
More than 70 percent of a country’s governmental revenue can be attributed to petroleum and natural gas if that country has it. The export sector accounts for 85 percent of Qatar’s total income, and the country’s GDP is 60 percent dominated by the sector. Its gross domestic product is 113,675 dollars per person, and it is the world’s second-largest exporter of natural gas.
Switzerland comes in at number five on this list with a gross domestic product (GDP) of 84,469 dollars for each individual. It has a very low population but is known as the land of wealth because it is home to many people who are worth a million dollars or more. It is a country located in Europe that is famous for producing a large number of innovations. The year 1948 marked the beginning of Switzerland’s independence, and the country quickly rose to prominence as a developed nation.
The majority of the world’s oil is shipped from Norway, making it the leading oil exporter. GDP was calculated at 78,128 USD per person. The agricultural, forestry and fishing industries were the primary contributors to its economy, which made it the most impoverished of the three Scandinavian kingdoms.
7. United Arab Emirates
With a gross domestic product (GDP) of 77,272 dollars per person, the United Arab Emirates came in seventh place on the list. Petroleum and natural gas production are the primary sources of revenue for this middle eastern country, which ranks fifth in size in the region. Additionally, one of the biggest contributors to the earnings is the tourist industry.
8. United States
United States of America, where the median household income of women has risen dramatically since the 1970s. The United States has a GDP per person that is equivalent to $75,180 USD. The highest annual income in this country in 2019 was 103,012, and more than sixty percent of families have two or more people contributing to the household income.
Brunei is a fairly small country in Southeast Asia that is located on the northern coast of the island of Borneo. There are more people under the age of 30 living in this country than any other age group. The natural gas and petroleum reserves in this country are the primary sources of this nation’s revenue.
10. San Marino
The nation of San Marino, which occupies the tenth spot on this ranking, generates the majority of its income from tourism, banking, and the production of various goods, including furniture, fabrics, apparel, paints, spirits, tiles, ceramics, and wine.
The List that Follows Contains the Remaining 15 Countries
|GDP Per Capita