Hello friends welcome to our another article Top 10 Richest Countries In The World.So lets get start it..
1.QATAR – $127,523
The country is known for its Petroleum and Liquefied Natural Gas that account for more than 70% of the government revenues, more than 60% of the GDP and roughly 85% of export earnings. Oil has given Qatar a per capita GDP that ranks among the highest in the world. It has a large natural gas reserve that makes the country rich in natural resources. Production and export of natural gas makes the country’s per capita income 146000 USD and hence the richest country of the world 2016.
2.LUXEMBOURG – $105,882
A symbol of wealth, number two on the list has a per capita GDP (PPP) of $105,882, which is nine times the world average. The backbone of this strong economy is its vibrant financial sector, prudent fiscal policies, and dynamic industrial and steel sectors. Banking in Luxembourg is the largest sector of its economy with an asset base of over $1.24 trillion alone.
It has one of the richest Asian Countries and the most open economy in the world. The country earns a huge amount because it is the home for FDI inflow, the investors find the country relevant to invest because it has attractive investment climate and most importantly, stable political environment that makes the per capita income of the country 3rd highest to 85000 USD that makes the country 3rd richest country of the world.
4.BRUNEI – $77,441
Brunei, a small country with a wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition has led to GDP per capita (PPP) of $77,441. It is almost completely supported by exports of crude oil and natural gas. Like other oil countries in the list the government has shown progress in diversifying the economy away from just oil and gas.
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5.KUWAIT – $73,817
One of the richest Arab Countries, Kuwait is also known globally for its oil reserves and is the fourth biggest economy in Organisation Of Petroleum Exporting Countries (OPEC) wherein oil counts to approximately half of the GDP and 95% of export revenues. Kuwait currency is the highest valued currency which speaks in itself the rich and firm structure of the country that makes the country counted as 5th richest country having a per capita income of 72000 USD.
6.THE UNITED ARAB EMIRATES – $72,419
This Middle Eastern federation of emirates has a land area of about 32,278 sq. miles, which means it could easily fit within New York State (54,556 sq. miles). With a population of 9.2 million people, it’s a bit more populated than the state of New Jersey. A third of the $72,419 per capita economy comes from oil revenues, while the service sector and telecommunications also contribute significantly. The UAE is the second largest economy in the Arab world after Saudi Arabia
The Emerald Isle has a per capita income of about $68,883 with a population of about 4.8 million people. The main industries that boost its economy are textiles, mining, and food proctuon – staple products in any economy. In OECD (Organization of Economic Cooperation and Development) rankings, Ireland actually places 4th overall.
Norway has the world’s largest foreign wealth fund. Norway is a home to abundant natural resources, including petroleum exploration and production. The country also maintains a high standard of living comparing other European economies and hence is the 6th richest economy of the world 2016, with a per capita income of 68000USD.
The GDP (PPP) per Swiss citizen is $62,882. Swiss banking and financial institutions keep this country and its economy afloat. It is important to note that some of the wealthiest people and companies in the world own Swiss bank accounts and therefore Switzerland has excess capital to use for investment purposes. Zurich and Geneva, Switzerland’s most well-known cities, have consistently ranked among among the top ten worldwide in terms of standards of living.
10.THE UNITED STATES – $57,467
While most nations on the list have small populations (relatively), it is impressive that the world’s largest economy, the United States, can maintain a per capita GDP (PPP) of $57,467, considering its population of over 310 million people. Reasons behind its success include its large domestic automotive industry, technological sector that foster innovation, and a system of democracy that protects entrepreneurial and intellectual property rights.