The global economic crisis of 2008 has long since passed, but it crippled the world economy and seriously slowed down its economic growth. However, some countries did not suffer too much or were able to quickly return what was lost. Their GDP (gross domestic product) practically did not decrease, and after a short period of time it went up again. Here is a list of the richest countries in the world for 2019, whose wealth has been increasing over the past years. So, the countries of the world where people live most richly.
10 Austria | GDP: $39
This small and cozy country is located in the Alps, has a population of only 8,5 million people and a GDP per capita of $39711. This is about four times higher than the equivalent average income per person on the planet. Austria has a highly developed service industry, and proximity to wealthy Germany ensures strong demand for Austrian steel and agricultural products. The Austrian capital, Vienna is the fifth richest city in Europe, behind Hamburg, London, Luxembourg and Brussels.
9. Ireland | GDP: $39
This Emerald Isle is famous not only for incendiary dances and interesting folklore. Ireland has a highly developed economy, with a per capita income of US$39999. The population of the country for 2018 is 4,8 million people. The most developed and successful sectors of the economy are the textile and mining industries, as well as food production. Among the member countries of the Organization for Economic Cooperation and Development, Ireland occupies a fairly honorable fourth place.
8. Holland | GDP: $42
With a population of 16,8 million and a gross domestic product per citizen of US$42447, the Netherlands ranks eighth on our list of the richest countries in the world. This success is based on three pillars: mining, agriculture and manufacturing. Few have heard that the Tulip Country is a kingdom consisting of four territories: Aruba, Curaçao, Sint Martin and the Netherlands proper, but of all the territories, the Dutch contribution to the kingdom’s national GDP is 98%.
7. Switzerland | GDP: $46
In the country of banks and delicious chocolate, the gross domestic product per citizen is $46424. Swiss banks and the financial sector keep the country’s economy afloat. It should be noted that the richest people and companies in the world keep their savings in Swiss banks, and this allows Switzerland to use excess capital for investments. Zurich and Geneva, two of the most famous Swiss cities, are almost always on the list of the world’s most attractive cities to live.
6. United States of America | GDP: $47
Most of the countries on our list have relatively small populations, but the US is clearly out of this range. The country has the largest national economy in the world and the country’s population exceeds 310 million people. Each of them accounts for $47084 of the national product. The reasons for the success of the United States are liberal legislation that provides high freedom of business, a judicial system based on British law, excellent human potential and rich natural resources. If we talk about the most developed areas of the US economy, then it should be noted engineering, high technology, mining and many others.
5. Singapore | GDP: $56
It’s a tiny city-state in Southeast Asia, but that hasn’t stopped Singapore from having one of the world’s highest gross domestic product per capita in 2019. For every citizen of Singapore, there is 56797 dollars of national product, which is five times more than the average for the planet. The basis of Singapore’s wealth is the banking sector, oil refining and chemical industries. Singapore’s economy has a strong export orientation. The country’s leadership strives to make the conditions for doing business the most favorable, and at the moment this country has one of the most liberal legislation in the world. Singapore has the world’s second largest trading port, with $2018 billion worth of goods passing through it in 414.
4. Norway | GDP: $56
This northern country has a population of 4,97 million and its small but powerful economy allows Norway to earn $56920 per citizen. The main drivers of the country’s economy are fishing, processing industry and mining, mainly oil and natural gas. Norway is the eighth largest exporter of crude oil, the ninth largest exporter of refined petroleum products and the world’s third largest exporter of natural gas.
3. United Arab Emirates | GDP: $57
This small country (32278 sq. miles), located in the Middle East, can easily fit in the territory of the state of New York (54 sq. miles), while occupying a little more than half the area of the state. The population of the United Arab Emirates is 556 million people, which is equal to the population of a small state in the United States, but the UAE is one of the wealthiest countries in the Middle East. The gross income per person living in the country is $9,2. The source of such fabulous wealth is common in the Middle East region – it is oil. It is the extraction and export of oil and gas that provides the lion’s share of the income of the national economy. In addition to the oil industry, the services and telecommunications sectors are also developed. The UAE is the second largest economy in its region, second only to Saudi Arabia.
2. Luxembourg | GDP: $89
The silver medalist of our very honorable list is another European country, or rather, a European city – this is Luxembourg. With no oil or natural gas, Luxembourg can still generate a per capita gross domestic income of $89862. Luxembourg was able to reach such a level and become a real symbol of prosperity even for prosperous Europe, thanks to a well-thought-out tax and financial policy. The financial and banking sector is superbly developed in the country, and the manufacturing and metallurgical industries are at their best. The Luxembourg-based banks have an astronomical $1,24 trillion in assets.
1. Qatar | GDP: $91
The first place in our ranking is occupied by the tiny Middle Eastern state of Qatar, which was able to achieve this position thanks to the huge natural resources and skillful use of them. The gross domestic product per citizen in this country is 91379 US dollars (up to a hundred is quite a bit). The main sectors of Qatar’s economy are oil and natural gas production. The oil and gas sector accounts for 70% of the country’s industry, 60% of its income and 85% of the foreign exchange earnings that come into the country and make it the richest in the world. Qatar has a very thoughtful social policy. Thanks to its economic success, Qatar also won the right to host the next World Cup.