Top 10 Richest Countries in the World
There are many ways of calculating how wealthy a country is. To calculate this, financial experts resort to the GDP per capita. This GDP is based on the purchasing power parity and helps to find out the riches of a particular country. The GDP per capita of the richest country today i.e., Qatar riches nearly $140,000 per annual! Isn’t that a lot? You bet it is! Let’s read about the richest 10 countries below!
Qatar
Due to its well-performing petroleum sector which accounts for approximately 85% of its exports, Qatar tops the list. The export contributes to about 70% of the country’s total national revenue. You will be surprised to find out that less than three million people live here. It’s a small nation that enjoys a lot of wealth owing to the abundance of oil reserves. They also have a booming trade industry that further helps them in developing their wealth.
The country is also known for its steel and fertilizer exports. You will be surprised to find out that the government does not impose any taxes on its nationals. On top of this, the country provides national health insurance as well! If you can’t afford to visit Qatar in person, enjoy travel vlogs to get a sense of this beautiful country. All you need is a Spectrum Number connection which you can easily get.
Macau
Macau drives a vast portion of its wealth by the courtesy of its gambling and tourism industry. The country is referred to as the largest gambling center in the world. Earlier, Macau was colonized by the Portuguese but in the post-colonial era, their wealth sky-rocketed. Since 2006, they have been posting the highest gambling revenue. Just imagine that a whopping 16.81 million people visited the country during the first half of 2018 alone!
Luxembourg
A small country present in Europe, Luxembourg is famous for its grand castles and delicious cuisines. The GDP per capita is an impressive figure in excess of six figures! The industrial, steel, and banking sectors play a vital part in making the country’s economy so impressive. The low tax policy attracts banks from around the world. If you visit Luxembourg, you will get to know that more than 150 banks are present here! Impressive, right?
Singapore
Singapore is a city-state of just around 6 million people. It is the wealthiest nation in Asia. When it comes to its GDP per capita performance in the world, it comes at 4th place. Even though Singapore is just a dot on the map and lacks natural resources as well as agricultural land, it has amassed an amazing amount of wealth. The country performs remarkably well in the banking, electronics, and shipbuilding industries. The liberal economic policies and the economy based on multicultural origins aid in greatly achieving such a fascinating amount of financial success!
Brunei Darussalam
Located in Southeast Asia, this small nation is home to only around half a million people. The country has a lot of oil and natural gas resources. As a result, the country enjoys a very stable GDP per capita annually! The country also enjoys a lot of foreign investments to enhance its oil production. The government, due to the affluent economy, provides free healthcare and housing to its people. A great place to live in for sure!
Ireland
Ireland is a great tourist spot. It is home to lush green pastures and beautiful winters. The country flaunts the highest living standards due to its stable economy spearheaded by trade and investments. Microsoft, Google, and Apple have invested here and advanced the electronics and technological progress here as well!
Norway
Norway is a Scandinavian nation and is and has a rich economy as well as many scenic spots. This country is quite close to the North Pole. Norway relies heavily on its industrial sector to end up in the top 10 richest countries in the world. They have a GDP per capita of more than $70,000 per annum! Norway provides a very high living standard to its citizens. Similar to Brunei Darussalam, the country takes care of the healthcare of its people!
United Arab Emirates
You will notice that a majority of the richest countries in the world rely on oil reserves. UAE is no different. Their petroleum reserves account for a vast majority of their wealth. Furthermore, the country is also one of the hottest tourist spots in the world. The country is currently expanding in the technological, electronics, and services sectors.
Kuwait
Kuwait is another Arab nation that finds a spot in the top ten richest countries in the world. The country has a highly oil-dependent economy. 95% of the country’s exports are credited to petroleum and petroleum-based products. The country is lucky to be the owner of 10% of all the world’s oil reserves. However, they are branching into other industries as well. The transportation, automobile, and travel industry are seeing a lot of progress.
Hong Kong
Earlier, Hong Kong was under the administration of the UK. However, now it falls under China’s special administration. Hong Kong is one of Asia’s top financial hubs with a great attitude towards foreign investments. Even if you’re not a citizen of Hong Kong, you can do business here. However, you need to own 100% of your business. Hong Kong supports a great ecosystem for startups due to the abundance of investors. So, if you have a startup idea then it’s time to try Hong Kong out!
Being rich is great but being able to share what you have with those who are less fortunate is a privilege. Thankfully, most of these nations contribute their wealth in welfare activities as well. More such activities are needed to make the world a better place to live in for everyone!
