The most affluent countries in the world. The richest country in the world, according to various estimates. United Arab Emirates
Financial experts annually compile rankings to determine which is the richest country in the world. Do you know this? Many believe that the most financially wealthy state is the United States or Saudi Arabia. But is this really so? Read the article to find the answer to the question of which countries’ residents are not afraid of financial crises, low wages and unemployment.
How is the rating calculated?
To form such a rating, it is necessary to carefully analyze the GDP (gross domestic product) per capita. This figure is not the most accurate and universal indicator, but at the moment it is the best that exists in economic science for determining the level of well-being of a state.
This figure does not take into account industry structure and production efficiency, but even such approximate data can tell a lot. For greater objectivity, GDP is calculated at PPP (purchasing power parity) per capita. This is done like this: GDP is calculated in national currency, and then converted at the current market rate into US dollars. In other words, two courses are compared, which gives a more clear and accurate picture.
Which countries are in the top ten?
Now it's time to take a look at the top richest countries in the world. Looking ahead, we note that the top ten includes as many as 4 European countries.
This is what the list looks like:
- 10 – Netherlands.
- 9 – Switzerland.
- 8 – Hong Kong.
- 7 – USA.
- 6 – UAE.
- 5 – Brunei.
- 4 – Norway.
- 3 – Singapore.
- 2 – Luxembourg.
Richest countries: places 10th to 7th
According to 2014 data, the Netherlands closes the list of the 10 richest countries in the world. During the past year the goods produced here per capita amounted to $40,973. The secret of the wealth of this European country is its small territory and small population (just over 16 million), as well as a high level of education.
Switzerland is in ninth place in terms of the maximum level of security. The GDP amounted to $41,950. It is not at all surprising that the country’s most prestigious resorts, reliable banks and expensive watches are in this ranking.
The eighth place in the top was taken by the Asian country of Hong Kong with a level of 45,944 US dollars. Now this territory is part of China, but it achieved high economic development a long time ago and thanks to fruitful cooperation with American companies.
The United States itself is in seventh place. Every year, goods with a total value of $46,860 are produced per capita here. This level of prosperity is possible thanks to the stability of the currency, developed tourism and significant political authority.
Richest countries: places 6th to 4th
We continue the list of the richest countries in the world. The United Arab Emirates (UAE) took sixth place in 2014. The Gulf country produces $47,439 worth of goods per capita annually. The secret of such wealth is the developed oil production and tourism business. And also the fact that the country’s population is not particularly large, and a significant part of the labor market is made up of migrant workers.
The Islamic state is also in fifth place. Brunei, with a per capita GDP of $48,333, has been called the “Islamic Disneyland” for its wealth and luxury. The secret of success here is the same as that of the Emirates: vast oil reserves, a small number of population (citizens of the state), of which about 40% are working foreigners.
In fourth place is Norway. This Scandinavian country produced a GDP per capita of $51,959 in 2014. The population itself is not that large - less than 5 million, and Norway's main income comes from oil and gas development and tourism.
Richest countries: 3rd and 2nd places
Now we are getting closer and closer to the answer to the question of where the richest country in the world is located. But before that, let's take a look at its neighbors in the rating.
Third place in the list of the most prosperous and prosperous countries is occupied by Asian Singapore with its GDP of $56,694. This unique city-state never ceases to amaze tourists, architects, historians and economists. The basis of prosperity is the knowledge-intensive industry (electronics and chemicals), as well as well-developed tourism.
The second place in the top ten richest countries is occupied by tiny Luxembourg, which has a not at all tiny GDP per capita – $81,466. Like Switzerland, this European country is successfully developing reliable banking. The sale of real estate also makes an important contribution to a successful and stable economy.
What is the richest country in the world?
So we got to the leader of the Forbes top ten. Who produced the most goods per capita in 2014, and whose economy was the most productive? Where do citizens have the highest salaries, or even social benefits that allow them to calmly not work and live in abundance? Whose luxury and satiety can we rejoice at, or perhaps envy?
And now is the moment of truth. According to Forbes magazine, the richest country in the world is Qatar. Located on the Arabian Peninsula, the country has significantly outpaced its neighbor the UAE, producing goods totaling $88,222 per capita. Experts predict a further increase in this amount, up to a fantastic 112 thousand dollars by 2016. The basis of Qatar's successful economy, as you might guess, is the export of its rich oil and natural gas reserves.
As you can see, the initial guess made at the beginning of this article turned out to be incorrect: the United States is only in 7th place in the top ten richest countries on the planet, and Saudi Arabia is not there at all.
We present to your attention the ranking of the 10 richest countries in the world for 2017-2018 and let’s start with the richest country, you probably know it from the previous article “The richest country in the world.” As you already know, this country is Qatar.
Qatar is considered the richest country in the world at the beginning of 2018, due to the fact that the country is very small, the population is small. Qatar is one of the countries that actively produce oil in large quantities, so almost every resident of the country lives prosperously. 
Singapore, this country is the richest country in Asia, it is a highly developed country with a good market economy and low taxation. Singapore is the fastest growing country in the world in 2018. 
A highly developed country that ranked 2nd among the richest countries in Europe in 2017. Well, in the 10 richest countries in the world, Ireland ranks 4th. 
The famous United Arab Emirates is among the 10 richest countries in the world and ranks 5th on this list. An oil-producing country located on the Arabian Peninsula. 
For this list, we have chosen small and rich countries that are often considered tourist destinations. This combination is mind-blowing in a good way. We assessed each country's wealth by its gross domestic product per capita, which gave more fair results. Data on gross domestic product per capita were taken from reports from various sources, such as The World Bank, International Money Fund and the Central Intelligence Agency (CIA). After that, we chose the countries that were the smallest and most attractive in terms of holidays.
Today you will learn about the ten smallest and richest countries that are worth visiting during your vacation.
10. Singapore
The Republic of Singapore is a city, country and island located in Southeast Asia. Singapore is known as one of the cleanest countries in the world as its pollution laws are very strict. For example, car owners pay additional taxes if they drive into a city center where there is a special toll to enter. With an area of just 715.8 square kilometers and a population of 5.5 million, the Prime Minister and Government must always think about the future without looking back. Singapore's per capita share of gross domestic product is $55,000, placing the country higher than most larger countries.
Singapore is the gateway to many other countries such as Bali, China and Malaysia, so many travelers stop here to learn about the country's culture and enjoy the beauty of the area. Participation in a tour gives visitors the opportunity to see and learn a lot about the country within three to four hours. This is a great way to get to know its history, religions and customs.
9. San Marino
The Most Serene Republic of San Marino is surrounded by Italy and is located in the northeastern part of the Apennine Mountains of the peninsula. The country's area is only 61 square kilometers, and the population reaches 30,000 people. It is one of the smallest and richest countries in the world. The per capita share of the gross domestic product in this jewel of a country is $59,000.
The country's wealth is largely due to its economic stability, one of the lowest unemployment rates in the world, the absence of public debt and a positive government balance. This is an astonishing statistic, and although tourism accounts for no more than two percent of the gross domestic product, more than two million people visit the country every year. This is a picturesque state. Here you can enjoy nature and culture that you will not soon forget.
8. United Arab Emirates
By now, everyone has heard about the wealth of the United Arab Emirates with cutting-edge architecture and unusual entertainment. Dubai and Abu Dhabi welcome guests from all over the world. The country's population includes more expatriates (7.8 million) than Emiratis (1.4 million) and all 9.2 million residents live in an area of 83,600 square kilometers, which is divided into seven emirates.
Now more tourists than ever are traveling to the United Arab Emirates to experience the unique landscape, buildings and views. Camel polo, ice bars and indoor surfing are just a few of the many activities available. Here you can also visit cultural events, attractions and local sports.
7. Switzerland
Switzerland is much more than luxury watch stores and banks. It is simply a paradise for both winter and summer sports and is ideal for enjoying its incredible, mountainous countryside. The country's territory is 41,285 square kilometers. This country is located between Italy, France, Germany, Austria and Liechtenstein in the middle of the Alps. More than 8 million people live in Switzerland. They are fortunate to be able to enjoy a share of the gross domestic product per capita of $81,000, making it one of the smallest and richest countries in the world.
There are several ways to visit the country, such as by ferry from Evian-les-Bains, France, by plane, by train or by car. If you don't like sports, then metropolitan cities such as Zurich, Geneva, Basel and Lausanne will delight you with first-class shopping, restaurants, chocolate and more chocolate.
6. Macau Special Administrative Region (Macao)
The per capita share of gross domestic product is quite high at $91,000 for Macau's population of 625,000 people who live in an area of 27.2 square kilometers. It is one of the richest countries on our list, and its economy is dependent on gambling and tourism.
The country's location next to Hong Kong, China's Guangdong Province and the South China Sea makes it a favorite weekend getaway and home to luxury resorts. The country is dominated by a unique Cantonese and Portuguese cuisine, influenced by Europe, South America, Africa, India and Southeast Asia.
5. Norway
The Kingdom of Norway is located on the Scandinavian Peninsula, the Jan Mayen Islands, the Svalbard Archipelago and Bouvet Island, which is partly located within the Arctic. As you can see from this photo, Norway is simply amazing, quaint and natural. It is located on an area of 385,186 square kilometers. Norway has a population of approximately 5.1 million people.
This country is considered one of the richest countries in the world. The per capita share of the gross domestic product is $100,400. This high figure is due to the economy, which consists of a successful combination of the free market and government-controlled sectors such as health care and parental leave (46 weeks).
Music, cinema, art and culture are certainly a big part of why travelers head to Norway. The unique topography is also a big draw, with mountains perched on the edge of the sea, fjords, northern lights and the midnight sun.
4. State of Qatar
The State of Qatar is a sovereign state covering an area of 11,586 square kilometers. Qatar is located on a small peninsula, on the coast of the larger Arabian peninsula. 2.2 million people live here. The per capita share of gross domestic product is very high at approximately $104,000.
Many of the country's hotels and restaurants are modern and offer traditional Qatari menus, but there are also a few American restaurants for those craving home-cooked meals. The country's attractions include museums, interesting locales, performances and various sports.
3. Grand Duchy of Luxembourg
Beautiful Luxembourg is located between Belgium, Germany and France. Its small territory of 2,586.4 square kilometers is home to approximately 600,000 people. The head of the country is the Grand Duke. The per capita share of the gross domestic product is approximately $111,000. The country almost never experienced inflation or unemployment.
The country is European and modern. The city, surrounding Luxembourg area and countryside are spectacular, complemented by castles and stunning scenery. Getting to Luxembourg is easy: by air, car or train. There is a huge amount of art, culture and gastronomy to be found here that can be enjoyed by singles and families alike.
2. Principality of Liechtenstein
The Principality of Liechtenstein is one of the smallest countries in the world and the only country located entirely in the Alps. Its territory of 160,475 square kilometers borders Austria and Switzerland. The principality is home to approximately 35,000 people.
This is a unique and exciting place to visit. Holidays such as Oktoberfest are celebrated here, and recently the principality has become a Mecca for lovers of ski resorts. There are two breweries, several wineries and simply amazing restaurants. Liechtenstein offers both the country's traditional food and standard culinary delights that can be found in restaurants in major cities around the world.
1. Principality of Monaco
Monaco is the second smallest and richest state in the world, which is located on the Côte d'Azur, between France and Italy. The country's territory is smaller than the territory of Central Park in New York, however, the share of gross domestic product per capita is approximately $188,409.
Historically, this state is best known for the sensational marriage between American actress Grace Kelly and Prince Rainier III. It is also home to the annual Grand Prix, a prestigious Formula 1 motor race that has been held at the Circuit de Monaco since 1929.
Monaco is also home to other luxury and elite venues and events such as the Monaco Super Yacht Show, the Tour de France and the ATP Tennis Masters Series. Monaco is visited annually by millions of tourists who crowd this tiny country with a population of no more than 40,000 people.
The International Monetary Fund regularly conducts research to determine which countries have the highest GDP per person. This indicator becomes fundamental when compiling a ranking of the richest countries in the world. In 2017 they were:
Qatar
GDP per capita: $124,930
For several years in a row, this state has topped the rankings of the richest in the world. There are large reserves of natural gas and oil here, which allows us to keep the bar so high.
Luxembourg
GDP per capita: $109,190
There is a very high standard of living for citizens here. One of the richest countries in Europe.
Singapore
GDP per capita: $90,530
The country is very highly developed and attracts many investors due to its low taxation. There are only 5 taxes, two of which are on profit and on wages. And the total tax rate is 27.1%.
Singapore produces electronics, has a developed shipbuilding industry and a financial services sector. There are about 1,000 investment funds and more than 200 banks in the capital.
Brunei
GDP per capita: $76,740
The country began to be called “Islamic Disneyland” for how richly its citizens and the Sultan lived. The basis of the economy is the extraction and processing of oil and gas.
Ireland
GDP per capita: $72,630
An example of a small but modern trade-dependent economy. The main engine of Irish economic growth is exports.
Norway
GDP per capita: $70,590
The country is the largest oil and gas producer in Northern Europe. It covers its energy needs through hydropower, which allows it to export most of its oil.
Kuwait
GDP per capita: $69,670
A sheikhdom in southwest Asia that is an important oil exporter.
GDP per capita: $68,250
Re-export, trade, production and export of crude oil and gas form the basis of the country's wealth.
Switzerland
GDP per capita: $61,360
A country with one of the most stable economies in the world. This is where investors concentrate, for whom the safety of their own funds is important, which became possible thanks to the policy of long-term monetary support and banking secrecy. This country is also a world leader in gold refining, processing two-thirds of the world's gold production.
Hong Kong
GDP per capita: $61,020
This special administrative region is a free port and does not levy customs duties on imports, nor does it have value added taxes or equivalents. Therefore, an economy based on a free market is very successful.
San Marino
GDP per capita: $60,360
One of the smallest states in the world, but also one of the richest. The tourism sector provides a lot for the economy - it employs up to 2 million people annually.
GDP per capita: $59,500
It is a highly developed country whose citizens own about 40% of the world's total wealth. Average wages, HDI, GDP per capita and labor productivity are the indicators for which it ranks first in the world.
Switzerland opens the top 10 richest countries. In a country with a population of about eight million, the GDP per capita is 56 thousand 815 dollars. Switzerland is the world's main gold exporter. Despite the country's relatively small size, its economy is one of the largest in the world. Switzerland has a high standard of living and high life expectancy. Over the year, the country has dropped one position in the ranking of the richest.
Experts put the USA in the line below. The country's GDP per each resident of the United States is $57,045. At the same time, the country's population reaches almost 320 million people. Americans are one of the richest peoples in the world. They consume more than residents of other countries. The United States accounts for a quarter of all goods and services purchased in the world. On average, Americans live about 79 years, eight years longer than the global average. Over the past year, the United States has risen in the ranking of the richest countries from 13th place to ninth. Experts believe that this may be due to the strengthening of the dollar against most world currencies.
Hong Kong ranks eighth in the ranking. With a population of seven million people, the per capita income is $57,676. Hong Kong is the most trade-dependent country in the world. The administrative region exports about as much as it imports, so it has an almost perfect trade balance. Most of the export earnings come from gold, purchased mainly from Switzerland. The bulk of it is then sold to China. Hong Kong has low taxes and high levels of access to East Asian markets, attracting business. Life expectancy for Hong Kong residents is the highest in the world (83.8 years). Compared to 2015, Hong Kong has risen in the ranking by three positions.
Experts gave the seventh line to the United Arab Emirates (UAE), where each of the nine million inhabitants accounts for $67,201 in GDP. Like most of the countries in the top 10, the UAE has rich oil reserves, which are mainly exported to Japan, Thailand, South Korea, India and Singapore. Oil supplies abroad account for the largest share of GDP. Most of the country's population enjoys a higher standard of living than residents of other countries in the Middle East and North Africa. Compared to last year, the country’s position in the ranking has not changed.
Norway occupies sixth position. In a country with a population of 5.1 million people, each resident accounts for $67,619 in GDP. The country exports oil, gas, and fish. Norway has very high taxes, but they are evenly distributed among the population. Despite the fall in hydrocarbon prices, Norway has improved its performance in the ranking, Vesti.Finance notes, rising from eighth to sixth place.
Kuwait opens the top 5. With a population of 3.7 million citizens, each of them receives $71,600. The country is rich in oil, ranking fifth in the world in terms of proven reserves. In addition to hydrocarbons, Kuwait imports pharmaceuticals, food, automobiles and many other categories of goods. The level of health care here lags significantly behind other countries, and the average Kuwaiti resident lives 74 years. The fall in oil prices over the past year has had a negative impact on the country's economy. Kuwait dropped two positions in the ranking.
Brunei Darussalam took fourth place on the list. The country's population barely exceeds 400 thousand, while the GDP per citizen is 80 thousand 335 dollars. Brunei is an oil-rich country that exports gasoline to Japan and South Korea. With exports almost 2.3 times higher than imports, the country has one of the highest trade balances in the world. Over the past 20 years, Brunei has diversified its economy and the country is now attracting significant foreign investment. Over the course of the year, she rose one position in the ranking.
Singapore, where the GDP per capita is $84,821, received bronze from the compilers of the list of the richest countries in the world. The country of about 5.5 million people has no natural resource reserves, but the city-state is a major financial and trading center. It has the highest number of millionaires per capita. The Port of Singapore is the second busiest port in terms of cargo volume. The unemployment rate is only 2%, and life expectancy is 82 years. Compared to last year, Singapore moved up one place in the ranking.
Luxembourg won silver. Each resident of the country accounts for 94 thousand 167 dollars of GDP. The country of half a million people depends on trade with Belgium, France and Germany, which border Luxembourg. The country's exports exceed 122 billion dollars, and imports amount to almost 100 billion. Life expectancy in the country is above 81 years, which is higher than the regional average. Luxembourg has significantly improved its position over the year, moving up to second place from tenth.
Qatar took first place in the ranking. In a country with a population of almost 2.2 million people, each resident accounts for $146 thousand of GDP. Qatar ranks ninth in the world in terms of proven oil reserves, and the country's economy depends on the export of black gold. Qatari authorities have tried to diversify the economy, but the country remains dependent on oil. It has high life expectancy, high internet access and high literacy rates. For the second year in a row, Qatar has become the leader in the ranking of the richest countries in the world, despite falling oil prices.