TOP 10

RICHEST
COUNTRIES IN
THE WORLD
RIGHT NOW

james mccullough
Table Of Content

Top 10 Richest Countries In The World 3

9. Switzerland 4

8. United Arab Emirates(UAE) 6

7. Kuwait 7

6. Norway 8

5. Ireland 9

4. Brunei 9

3. Singapore 10

2. Luxembourg 11

1. Qatar 12
 Top 10 Richest Countries In The World Right Now

The richest countries in the world are those countries with a sound and healthy economy.
The wealth of nations, measured by The Gross Domestic Products(GDP) might give huge
results, but with respect to the living conditions of the people, one might be stunned at
the disparity between the two. In that case, the richest of all countries is calculated either
by nominal GDP or by Purchasing Power Parity(PPP). Nominal GDP is the measure of the
economic worth of a nation disregarding effects of inflation while the GDP by PPP puts
into consideration the possibility of inflation.
It is somewhat expected that the citizens of a nation would benefit from the progress of
the nation’s economy, but that is not often the case. Some countries by mere GDP
rationale are tremendously affluent that it beats imagination why it has not in a
convincing way reflected in the lives of the people. There still appears to be a sort of
imbalance in wealth distribution, for instance, China with a mind spinning GDP of $18.976
trillion is the world’s leading economy but by per capita GDP(in terms of population),
ranks the 87th in the world’s richest list. While the richest country in the world by nominal
GDP per capita is Luxembourg, Qatar is the richest Purchasing Power Parity, per capita.
According to IMF, these are the top richest countries by GDP (PPP) per capita:
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Top 10 Richest Countries In The World

10. HongKong
Total GDP: $320.9 Billion
GDP Per Capita: $61,020

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 Top 10 Richest Countries In The World Right Now

Hong Kong is one of the business-friendly destinations in the international community,

and as such, has encouraged a serious capitalist economy. Hong Kong is the 10th richest
nation in the world by GDP (ppp) per capita, and it is also known for its low tax rates. This
is most probably the direct reason why the country has a high life expectancy (84 years);
in other words, the wealth distribution is a near perfect one and the economic success of
the country is evident in the lives of the people. From the 1980’s till now, Hong Kong’s
economy has been depicting signs of speedy and positive growth against all odds.

9. Switzerland
Total GDP: $659.8 Billion
GDP Per Capita: $61,360

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 Top 10 Richest Countries In The World Right Now

Switzerland is one of the most stable economies in the world, having a terrific low
unemployment rate (3.2% as at 2013). With a vibrant labor force, the nation benefits from
their manufacturing and investment-oriented economy in a healthy combination with
exports and the service sector. As a member of the European Free Trade Association
(EFTA), there is a very liberal trading attitude in Switzerland, thereby empowering the
private sector to a large extent. The nation’s industrial treasures are centred in Zurich,
harboring about 150,000 companies. Switzerland has one of the lowest rates of home
ownership in Europe, commendable living condition and has one of the highest life
expectancies in the world with an overall 83 years.

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 Top 10 Richest Countries In The World Right Now

8. United Arab Emirates(UAE)

Total GDP: $348.7 Billion
GDP Per Capita: $68,250

A league of 7 Arabic States with Dubai as the most populous city. UAE’s economy before
now was solely on oil and gas exports but currently non-oil sectors like tourism and
services sector have improved, generating 71% of the country’s GDP. In Tourism
particularly, Dubai raises over 60% while Abu Dhabi, originally known for her oil & gas
exports, holds 16%. Though the UAE does not permit the existence of trade unions, it is
definitely considered a free trading zone, ranking 25th in the Index of Economic Freedom
and 26th in the Ease-of-Doing Business Rank. With a 2013 population of 9.2 million(a 9:1
ratio of expatriates to natives), UAE has enough to go round with a 76 years overall life
expectancy.

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 Top 10 Richest Countries In The World Right Now

7. Kuwait
Total GDP: $114 Billion
GDP Per Capita: $69,670

Meet the 7th richest economy in the world by GDP per capita with a 2014 population of
4.1 million people and 78 years life expectancy. Kuwait has the currency unit with the
most value in the world, and holds about 10% of the global oil reserve, thus, it is a
petroleum-based economy. Of all the Arab countries, Kuwait is the first to initiate the
diversification of the economy in the Middle East and recorded as the most successful
Arab nation in investments. Kuwait is not only an oil-friendly nation but also firmly
involved in tourism, agriculture, shipping and banking services. As a relatively reasonable
area to trade, Kuwait encourages business/entrepreneurial start-ups and for most, social
media-based businesses.
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 Top 10 Richest Countries In The World Right Now

6. Norway
Total GDP: $370.6 Billion
GDP Per Capita: $70,590

Norway is yet another country that is doing well by GDP per capita, ranking the 6th in the
world, has an incredibly large capital reserve and a highly rated monetary value. Norway
assures a standard living condition for her inhabitants with an 82 years overall life
expectancy. The major economic activity in this country has always been oil production
and exports but in all, they have a vibrant mixed economy, owing to their numerous
natural endowments. Norway seems to be the only country that places a percentage of
her population on a disability pension.

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 Top 10 Richest Countries In The World Right Now

5. Ireland
Total GDP: $294.1
GDP Per Capita: $72,630

The Island country is #5 on the list world’s richest countries. With a population of 6.6
million people, Ireland has one of the highest growth rates in Europe. According to IMF
reports, spending, investment and construction drove GDP growth in Ireland in 2016.
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4. Brunei
Total GDP: $26,938.50 Billion
GDP Per Capita: $76,740

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 Top 10 Richest Countries In The World Right Now

Brunei Darussalam made it on the list of richest countries due to several factors; the
country has a 77-78 years life expectancy, 3.7% unemployment rate a population of
415,717 people, and according to the World Factbook, a $79,900 by GPP (PPP) per capita.
A small wealthy and diversified economy with keen interests in Oil & Gas(90% of its GDP),
imports & exports, agriculture and fisheries; they patronize both local and foreign
investments. After Singapore, Brunei is rated the next most developed nation in
Southeast Asia.

3. Singapore
Total GDP: $297 billion Billion
GDP Per Capita: $90,530

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 Top 10 Richest Countries In The World Right Now

Singapore is the go-to- place for a vibrant, successful and towering economy. Just like
China, it has promoted her market economy to a world-class level. The second freest
economy after HongKong is the 4th most influential city in the world and a pacesetter in
tech-advancement, industrialization and foreign investments. As a wealthy nation,
Singapore is known for her feasible social policies, skilled workforce, low tax rates and
advanced infrastructure, corruption-free and stable political environment; all these
earned her the World Bank’s no 1 for doing business. Singapore enjoys the perks of a
vibrant economy such that of a 5.5 million population, 90% own their homes, and is
known as one of the top tourist destinations with an estimated record of over 15 million
tourists in 2014.
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2. Luxembourg
Total GDP: $59.95 Billion
GDP Per Capita: $109,190

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 Top 10 Richest Countries In The World Right Now

With a population of 562,958 people, Luxembourg has an 82 years average life expectancy
and a legendary low unemployment rate of 6% as of 2012. Known as a tax haven, banking
is the largest sector of the economy, then comes steel production, telecommunication,
tourism and agriculture. Luxembourg is prominent for being an internet start-up
attraction and an investment hub.
Despite the highly rated market economy of the nation, as at 2014, Luxembourg had the
highest external debt per capita in the world with about $3,696,467.

1. Qatar
Total GDP: $152.5 Billion
GDP Per Capita: $124,930

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 Top 10 Richest Countries In The World Right Now

Among all the richest countries, Qatar has been the world’s richest nation by GDP(PPP)
per capita for over 3 years in a row, according to Business Insider. Before the oil boom in
1940, their economy was predominantly supported by fishing and pearl hunting.
Currently, the economy is boosted by oil & gas – 3rd largest reserve in the world,
industries, financial sector and tourism; ranking 32nd in the Index of Economic Freedom.
The nation’s rank in the standard of living both in the Middle East and the world at large is
beyond doubt. Qatar has a population of 2,155,446 people, of which a greater chunk are
expatriates, 14% are dollar millionaires(Wikipedia), 79 years life expectancy rate and a
0.4% unemployment rate (2014). Qatar is one of the leading Arab nations and the first
ever in the category to host the 2022 FIFA World Cup.

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