Every country around the world is trying hard to flourish its economy in order to make it a wealthy heaven to live. Despite the great input of their efforts, few countries manage to stabilize their economy and deliver a wealthy living to its citizens. Besides, even in the richest countries around the world, partial citizens are not satisfied with the kind of living. Nevertheless, a stable economy has the power to convert a country to a better place to live in. A country’s status in terms of wealth is measured by the amount of GDP per capita. High GDP per capita means that people have more disposable income enabling them to access more goods and services.
Other factors used to measure wealth status include rate of employment, highest per capita income and the country’s population without forgetting the sources of income. Many countries have massively faced economic crisis in the past years, despite the crisis, here is a list of top richest countries in the world.
Kuwait is the only Arab country in Western Asia and among the leading oil producers in the region. Its GDP per capita is about $43,846. The availability of oil makes it one of the leading export commodities and one of the main sources of income. Moreover, it’s the central musical influence of gulf cooperation sector, which sees it earn more of foreign exchange to boost in the income obtained from the oil. This country is ruled by monarchical government, which performs all the country’s affairs smoothly.
This is one of the richest countries in Europe. With its sufficient resources and the diverse economy, its leading sectors include the chocolate production industries, banking system and the Swiss army knives. Besides its economy, it’s a peaceful and the cleanest country in the world. It has a GDP per capita of $46, 864 with a population of about 7.9 million. Switzerland is called the heaven on earth because of its natural heritage and resources. It has receives about 2.6 million of visitors annually.
#8: United Arab Emirates (UAE)
This country has risen from being one of the harshest countries to one of the best places to be. It’s now among the wealthiest countries in Arab countries channeling its opportunities to its citizens through many projects. The industries in UAE have improved their gross radically. It has a GDP per capita of $49,893 with a population of 9.3 million. Its position is determined by the stable government, oil reserves, dried fish, tourism and natural gas. It receives about 10 million visitors annually.
#7: United States of America
This not only the world’s largest economies, but also among the top ten countries in the world. It has a GDP per capita of $51,248 with a population of 311.6 million. USA is the main center of technology and innovation. It also serves as the tourist attraction and has about 60 million visitors every year. Apart from the IT products other economic sectors include entertainment industry.
#6: Hong Kong
Hong Kong is a financial and trade center. It has a stable government with major economic sectors being transport and tourism. It has a GDP per capita of $52, 218 with a population of about 7.2 million. It receives 52 million visitors every year.
#5: Brunei Darussalam
Brunei is the one of the richest countries that gains its gross through crude oil and natural gases exportation. It has a population of around 4.1 million with a GDP per capita of $54,389.
Norway is a land of rising sun with a GDP per capita of $56, 669 with a population of 4.9 million. It’s also boasts the world’s leading social welfare system. Its major income comes from its rich reserve of fish and other agricultural products like coffee.
Singapore is an island with 63 islands within its territory and also one of the most financially stable countries around the world. It’s the third richest in the world with progress in technological advancement, living standards, economy and opportunities. It has a GDP per capita of $61,567 and its population is about 5.3 million. It has competitive tourism industry with about 15 million visitors annually.
This is the second richest country in the world with a GDP per capita of $80,679.609 and a population of 5.3 million. Most of the people in this country maintain perfect balance in work and living. Most of its income comes from sales of steel and iron products.
Qatar is the richest country in the world. It has a population of 2.051 million and a GDP per capita of $104,756. Its main income is from the natural oil and petroleum reserves which contributes about 85% of the total income. It has a diversified economy with pearl mining being the best as well as transportation industry. The ruling royal family has a strategy on no tax for the people’s income.