Presently, there are 196 countries in the world. Some with enormous size and some with a size of a small island. You might think that a country with a bigger landmass means more natural resources. Thus, ultimately resulting in the richest country in the world. But you are wrong, as there is a huge diversity in the distribution of wealth in the world. USA, Canada, UK are said to be the developed countries while India, Pakistan, Nepal, Philippines are the developing countries.
We can say that a developed country represents greater GDP, per capita income than the developing ones. For this reason, the majority of the Indians are looking for a high paying job in the US or UK. They even tend to migrate to another border for the sake of fortune. Here is the list of richest countries in the world. Note: I have created this list on the basis of GDP per capita.
Arabs are one of the richest communities in the world. The nation of Saudi Arabia is the number one exporter of oil in the world. All of these started back in 1938 when someone discovered that Saudi Arabia has huge reserves of oil. Presently, it is the only Arab nation to be a part of the famous G-20 major economic countries. People also refer Saudi Arabia as “The Land of Holy Mosques”. Millions of Muslim pilgrims travel every year to the holy Mecca. With an impressive per capita income of 56000 USD. Saudi Arabia has managed to hold the 10th spot on our list of richest countries in the world.
Known as one of the most beautiful nations in Europe. As a result, tourism remains the major source of income for the country. The country remains the pool of foreign investment, which gives it one of the highest per capita income (56000 USD). Switzerland manages to hold the 9th on our list of richest countries in the world.
United States of America:
Britain’s greatest gift to the world. The United States of America is the world’s largest economy. As a result, they have massive GDP of 17.91 trillion USD. The New York Stock Exchange is famous as the largest stock exchange market. Furthermore, the country is a pioneer in most of the industries. Its education sector remains flocked with over millions of students every year. USA has a per capita income of 57000 USD, which makes it hold the 8th spot on our list of richest countries in the world.
United Arab Emirates:
It is famous as the second largest economy in the Arabic nations. UAE earns most of its revenue from its tourism and petroleum industries. The massive wave of development came in 1971 after UAE gained its independence. It has a massive 1.45 trillion USD economy. And remains the second largest oil exporter after Saudi Arabia. With a per capita income of 68000 USD, UAE has managed to hold the 7th spot on our list of richest countries in the world.
Home to the world’s largest foreign wealth fund. Norway boasts huge reserves of natural resources in its land. Tourism is a major source of income for the country. For this reason, Norway has a high standard of living if we compare it to other European nations. With a per capita income of 68000 USD, Norway has managed to hold the 6th spot on our list of richest countries in the world.
Famous for its oil reserves among the world. Kuwait is definitely one of the richest Arab countries. As a matter of fact, it is the fourth largest oil exporter. Over 95% of country’s revenue is generated by selling oil to the world. Furthermore, the country has highest valued currency in the world. Which is quite enough to make it a rich nation, With a per capita income of 72000 USD, Kuwait manages to hold the 5 spot on our list of richest countries in the world.
A big exporter of natural gas and crude oil. Brunei generates more than half of its revenue from the petroleum exports. With less population, the country has a great per capita income of 80000 USD. Which makes it hold the 4th spot on our list of richest countries in the world.
It is one of the richest Asian countries. And it has the most open economy in the world. It remains the home to FDI inflow, which contributes to the financial growth of the country. Presently, the investors are attracted to this country for the investment climate and political stability. Singapore boasts a massive per capita income of 85000 USD. And it manages to hold the 3rd on our list of richest countries in the world.
Their economy is mainly dependent upon baking, steel, and Industries. People often address Luxembourg as the “Green Heart of Europe” for its diversity. Surely it is one of the richest European countries. As it has a per capita income of 94,000 USD. Which makes it hold the 2nd spot on our list of richest countries in the world.
Another Arab country into our list. Qatar is famous for holding massive Petroleum and Natural Gas reserves. As a matter of fact, its oil industry is responsible for making more than 70% of the government revenues. Its oil industry has given it the highest per capita in the world. Furthermore, tourism is also a major industry in Qatar. Qatar has a per capita income of 146000 USD which makes it hold the 1st on our list of richest countries in the world.