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10. San Marino-
This country has nearly nine million people that live here. It is currently in recovery mode as employment rates continue to rise and domestic and external demand are helping to lead to growth in San Marino’s GDP after a recession. Their current per capita is $60,360.
9. United Arab Emirates-
The United Arab Emirates stands as one of the richest countries in the world, with a high economy pushed by the oil market. Lower oil prices and output led to a lack of growth for the country in 2016. Although non-oil growth in the United Arab Emirates is expected to rise in future years. It is also the third largest country in the Middle East. This unique place has a population of just over ten million people.
8. Norway-
This nation has a per capita of $59,302 and has a population of 4.97 million people to benefit from the small yet robust economy. This beautiful place is driven by fishing, natural resources, and major petroleum exploration. Norway is also the eighth largest exporter of crude oil in the world and the ninth largest exporter of refined oil, and third largest exporter of natural gas in the entire world. The GDP and population ratio makes this country one of the wealthiest nations on the planet.
7. Ireland-
Ireland has a per capita income of $68,883 and has a population of about 4.8 million people. The leading industries that boost its economy are mining, textiles, and food staple products. Ireland has by far the lowest standard rate of corporation tax on manufacturing among the advanced economies. Their recovery in 2014 was the strongest in the Euro Area and similar across the two measures with growth rates of GDP and GNP with five percent as domestic demand was a solid contributor to economic growth.
6. Kuwait-
Kuwait is kinda small and relatively open economy, and its citizens enjoy a per capita GDP of $73,817. The Kuwait dinar currently has the highest valued currency unit in the entire world. It has nearly 10% of the world’s oil reserves. Also, the petroleum accounts for nearly half of GDP and 95% of export revenues as well as government income. In recent years they haven’t done much to diversify its economy due to a positive fiscal situation.
5. Brunei-
This is a small country with a wealthy economy that is both a mixture of both foreign and domestic entrepreneurship, welfare measures, and government regulation. It has a per capita of $77,441 and is almost entirely supported by exports of crude oil and natural gas. Just like other oil countries, the government has shown progress in diversifying the economy away from only oil and gas.
4. Singapore-
This tiny city-state has a per capita of $87,856, this is five times the average income for an ordinary individual in the world. The main part of the country’s wealth is its financial services sector, its liberal economic policies, and a chemical export industry. Singapore has the 2nd busiest port in the entire world; it exports $414 billion worth of goods almost every year. Singapore is a favorite tourist spot because it consists of sixty-three islands.
3. Macao-
This is the gambling center of China, it is the only place in China where gambling is legal. Casino bosses are investing in high-end shopping malls, lavish hotels, and fancy performance shows because the region is trying to diversify into a more family-friendly tourist destination. They have more than thirty casinos, including the world’s largest one, the Venetian. Which had a whopping 120,000 visitors a day in 2013. This country is benefiting from the many middle classes in China as the wealth and influence continue to rise. Around seventeen million tourists from mainland China visited Macau last year. Almost half of all the visitors this area gets most of them only stay for 24 hours.
2. Luxembourg-
This country is a symbol of wealth due to its per capita of $105,882, which is nine times the world average. The backbone of the strong economy this country has is its financial sector. It has dynamic industrial and steel industries. The most massive sector in Luxembourg is the banking; it is the largest sector of its economy with an asset of over $1.24 trillion alone. A fun fact about this unique place is that it is known as a tax haven, many people want to live here to get rid of expensive tax in their native countries.
1. Qatar-
Qatar ranks number one on the list of top ten richest nations in the world because of its high GDP per capita, which is $127,523. This country has a very well developed oil exploration industry, and the petroleum industry accounts for seventy percent of its government revenue, sixty percent of its GDP and eighty-five percent of its export earnings. Because of the country’s wealth and economic success, it has been chosen to be the host of the 2022 FIFA World Cup; this will be the first Arab nation to ever hold this event. However, Qatar is the most controversial country because of its forced labor from countries throughout Asia and parts of Africa.
