The world houses many rich countries, some poor, and some still developing. There are countries present that do not possess even a basic amount of facilities that humans need, and then there are countries that are ultra-rich, catering to humanity’s finest and most innate cravings. Based on their GDP and other factors, these countries are ranked respectively.
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The 10 richest countries in 2023
Several performance inducers give one an understanding of how the top 10 richest countries in the world can be ranked. One of the most used indicators is gross domestic product (GDP), which gauges the country’s total value of services and goods produced. Here, the size of the country doesn’t matter; rather, its production value matters. Even some of the smallest countries in the world can emerge as the countries with the highest GDP.
1. Luxembourg
Luxembourg is one of the countries found in Europe. Throughout the years, it has been repeatedly ranked as one of the richest countries in the world. Its GDP per capita is about USD 131,745, as per the United Nations.
The country is very well known for utilising its wealth for quality living standards, education and healthcare. In addition to that, Luxembourg is a thriving tourist destination in the world.
2. Ireland
The land of the Irish, Ireland is one of the richest countries in the world. According to the United Nations data, its GDP is around USD 101,109. After the unfortunate financial market crash in 2008, Ireland has put in great effort to sustain itself in the banking sector.
The country is popular for its tax policies and is well known as a tax haven. So, all the citizens in Ireland enjoy an equal enhancement in their realised income.
3. Singapore
Over the years, Singapore has become one of the world’s vital hubs for business and trading. Its GDP per capita is 64,010 USD. Due to its elegantly built infrastructure and attractive real estate options, the country has tempted many rich individuals into making it a home.
However, owing to the pandemic, the country did suffer from an economic hit, but it has speedily recovered and is now back to being one of the world’s richest countries.
4. Qatar
Qatar, also known as UAE, ranks highly as the world’s richest country due to its GDP per capita. Recently, the country has utilised its wealth rather flamboyantly as it invested greatly in the sports sector, even hosting the Football World Cup.
The main wealth stream comes from its abundant natural reserves and oil, which it exports to many other rich countries. Its per capita GDP is around USD 66,106 and is expected to drive more growth in the coming years.
5. Switzerland
The land of Swiss is yet another hot place that is on the top tourist bucket list. Apart from being a thriving financial hub, the country is also in the business of exploring precious instruments, metals and tech parts. According to the United Nations, the country has a thriving USD 101,109 GDP per capita. Switzerland also has the highest standard of living.
6. Norway
Norway, aka the land of the midnight sun, is one of the few nations in the world which isn’t a tax haven but makes it to the list of the world’s richest countries. United Nations states that its GDP is about USD 89,242 per capita. Just like other European countries, Norway maintains a very high standard of living.
7. The United States
The United States of America has a GDP per capita of USD 68,574 and has numerous ways of making money. While its economic prowess is something to talk about, the country’s military ability is something to reckon with.
The United States exports most of its goods, from tech to clothing, and receives significant payments in return. So, most of its GDP comes from its export of various goods.
8. Iceland
This country is built around tourism, the export of aluminium, fishing, etc. After the pandemic blow, Iceland took its sweet time to recover, but 8.1 per cent of its GDP later contributed to its economy, and the country hasn’t looked back since. As per United Nations, Iceland’s per capita GDP is USD 68 215.
9. Denmark
An interesting bit about Denmark is that apart from being one of the richest countries, it is also the second safest country in the world. Denmark does not depend on other countries for oil and reserves; the resources it possesses are abundant. United Nations reports its GDP per capita is 67,384 USD.
10. Australia
The country is well known for its landscape, rich flora, fauna, and tourism. However, Australia’s largest contributors to its GDP are its services, industry and agriculture sectors. The service industry does possess dominancy as it amounts to 62 per cent of its GDP. As of now, the country’s per capita GDP is 65,605 USD.
Read more: The 10 richest countries in the Middle East
