Top 10 Countries With the Richest Average Residents
Doubt as to the true measure of a country’s material wealth hangs in the air. Most rankings of the richest nations in the world consider gross domestic product, GDP, basically the size of a nation’s economy. Fortunately, Global Finance had the vision and initiative to create a list of the richest countries in the world. This list uses a purchasing power parity, PPP, thus taking into account not only the GDP of each country and population, based on 2013 numbers, but also the relative cost of living of each nation and inflation rates. Therefore, GDP per capita is considered a factor to highlight in this selection of the 10 countries with the highest average of rich inhabitants of the world.
10. AUSTRALIA – GDP PER CAPITA US $ 44,073.81
Australia’s $ 1.44 trillion GDP and population of 28.8 million certainly make for a healthy GDP per capita. However, despite the average gross annual income of the average Australian being indexed at a healthy $ 50,449, the latest news on Australia’s economy has not been very positive. Because of disappointing economic data in recent months, the Australian dollar is at its lowest level since the global financial crisis of March 2009.
9. SWITZERLAND – GDP PER CAPITA US $ 46,474.95
Due to the uncertainty involved, caused by Greece’s troubled economy, the Swiss National Bank has recently been busy trying to keep the value of the Swiss franc low. However, the Central European nation does not seem to have much to worry about in price increases in the most important Swiss exports, including its elite watches , they are even more desirable, the more they are high. And in addition, the nation’s average annual gross income is listed at $ 54,236, the third largest in the world.
8. UNITED ARAB EMIRATES – GDP PER CAPITA US $ 49,883.58
Most people know that the United Arab Emirates economy is heavily dependent on oil revenues, but while this is true, the nation has also successfully diversified its economy to become the least oil-sufficient country in the Gulf Cooperation Council. And surprisingly, though, despite the country’s impressive position here, its GDP is worth $ 401 billion, it is only the thirtieth largest in the world.
7. UNITED STATES – GDP PER CAPITA US $ 51,248.21
This country is consistently listed as having the largest economy in the world with its GDP pegged at $ 17.4 trillion, around 17% of global GDP. However, with more than 321 million citizens, America also has the third largest population in the world, thus dragging down considerably its position in this selection.
6. HONG KONG – GDP PER CAPITA US $ 53,432.23
China, despite its GDP of more than $ 10 trillion, is not even close to positioning in top regions of the national team. However, its autonomous territory, Hong Kong, with its GDP of $ 289 billion and population around 7.2 million, occupies impressive sixth place in the world in terms of GDP per capita.
5. BRUNEI – GDP PER CAPITA US $ 55,111.20
Brunei may have a GDP of only $ 15.1 billion, ranking 118 as the world’s largest, but also has a population of less than half a million, thus allowing its relatively few citizens to fully enjoy the wealth of the nation. In fact, Brunei is one of the few countries where citizens do not pay revenue or sales taxes.
4. NORWAY – GDP PER CAPITA US $ 56,663.47
With a GDP of $ 500 billion and a population of just over 5 million, it is easy to see why Norway is high on GDP per capita. The rich coastal nation has taken great advantage of its abundant natural resources, which include gasoline, hydroelectric power, and fishing that allow people to enjoy an average annual income of $ 49,663.
3. SINGAPORE – GDP PER CAPITA US $ 61,567.28
Singapore has been repeatedly recognized for having one of the most market-oriented and pro-business economies in the world. And this nation benefited greatly from such forces, with $ 308 billion of GDP and population below 5.5 million.
2. LUXEMBOURG – GDP PER CAPITA US $ 79,593.91
Luxembourg’s GDP, reported to be worth $ 62.3 billion, and only the 73rd position of the world’s largest, but because the country’s population amounts to less than 600,000, the country’s GDP per capita is appallingly the second largest among all the nations. The indicators show that banking trade, the largest sector in the Luxembourg economy, is the main responsible for the prosperity of the Green Heart of Europe.
1. QATAR – GDP PER CAPITA US $ 105,091.42
As if it were not already the richest country in the world with GDP of $ 210 billion and population of just over 2.3 million, Qatar is still doing an excellent job of diversifying its oil economy and dependent on liquefied natural gas.