7 Richest Countries In The World With Highest GDP Per Capita
What are the richest countries in the world? Are you curious about the countries on top of the world's wealth? This article will help you learn more about seven countries we consider the richest countries you can find today. We choose them based on their GDP per capita.
1. Luxembourg
Luxembourg might be a small country. But, its GDP per capita is the highest compared to other countries. According to a recent survey, its GDP per capita is around US$141,590.
A better economic policy also is another reason. That allows businesses to grow well and foreign investment to enter the country. Luxembourg also builds all infrastructures to make market access easier. With more than half of the population holding a degree, it is not wrong that this country stands on the top rank of the richest countries in the world.
2. Singapore
We have another country with a high GDP here. Singapore's GDP per capita reaches US$131,430. Singapore also applies a free-market economy and a business-friendly environment. Thanks to that, this country can boost business growth significantly and the manufacturing sector.
3. Ireland
Ireland's GDP per capita is US$131,030. We also choose this country as one of the richest countries in the world because of its human resources. Ireland has invested in the education sector that produces the best workers for business.
Ireland applies low corporate tax rates and many pro-business policies. Guess what?! That attracts many companies to build their business here.
Microsoft, Apple, and Facebook are some of the big names there. It is not surprising that many people in this country can make a good income because it has many available jobs.
4. Qatar
Qatar is also one of the richest countries in the world you must know. The oil and gas resources are the ones responsible for putting this country on this list. The oil and gas resources contribute to Qatar's economy significantly. As for its GDP per capita, it is US$113,670.
5. Switzerland
Switzerland is not only famous for its beautiful mountain villages or ski resorts. The high-diversified economy makes Switzerland well-known as a powerful country. Various sectors have developed, such as banking, healthcare, finance, and manufacturing.
Switzerland's stable political situation and a neutral position are another magnet for investors to come. It makes many companies love to build their business here because of less conflict.
Furthermore, the low corporate tax rate supports business development in this country. Combined with efficient infrastructure, starting a business in this country is easy, which affects this country's growth and economy.
6. Norway
Norway is known for its beauty. But, this country has an abundant amount of natural resources. That is one of many reasons why we also put it in the richest countries in the world list. This country also has one of the largest sovereign wealth funds, a US$1.2 trillion fund for investment. This country invested in education and healthcare, which improved not only the citizen life quality but also their qualification as human resources.
7. UAE (United Arab Emirates)
UAE has one of the highest GDP per capita (US$77,270) in the Middle East, plus is powerful in various sectors. Large oil reserve is one of them. The United Arab Emirates is also a strong house in the finance, construction, and tourism sectors.
Moreover, the UAE also doesn’t have a personal income tax. Best of all, no corporate tax as well, which makes business in this country develop fast. Many investors love that policy and decide to start their business here, which boosts the local economy.
Final Words
That is our list of the richest countries in the world. If you want to feel how to live there, try to visit them. Many of them provide friendly policies for those who want to live there.
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