5. Brunei – $80,380 GDP Per Capita (PPP)
- Country GDP (billions): 12.46
- GDP growth (%): 1.8
- Unemployment rate (%, World Bank): 9.2
Brunei is a tiny sultanate on the island of Borneo. It is among the world’s wealthiest countries, with a per capita GDP PPP of over 80,000 US dollars every year. The majority of the country’s wealth comes from the oil and gas industries. However, wealth inequality is widespread here, and the majority of the population does not make $80,000 per year in reality.
6. Norway – $76,680 GDP Per Capita (PPP)
- Country GDP (billions): 417.63
- GDP growth (%): 1.9
- Unemployment rate (%, World Bank): 4.0
This Nordic nation’s per capita GDP of $76,680 allows its 4.97 million people to reap the benefits of a small yet robust economy. Driven by fishing, natural resources, and major petroleum exploration, Norway is the eighth largest exporter of crude oil, the 9th largest exporter of refined oil, and 3rd largest exporter of natural gas in the world. Norway also consistently ranks among the world’s best places to live.
7. United Arab Emirates – $69,430 GDP Per Capita (PPP)
- Country GDP (billions): 405.77
- GDP growth (%): 1.6
- Unemployment rate (%, World Bank): 2.6
Dubai, the largest city in the desert country of the United Arab Emirates (as well as one of its seven Emirates). It is a symbol of wealth around the world. This reputation is well-earned, as the per capita income GDP PPP is nearly $70,000 in the country. Although natural gas still accounts for a large percentage of the country’s economy, it has been diversified over recent years to include things such as tourism, construction, and manufacturing.
8. Kuwait – $66,390 GDP Per Capita (PPP)
- Country GDP (billions): 137.59
- GDP growth (% annual): 0.6
- Unemployment rate (%, World Bank): 2.2
Kuwait is a small country on the Arabian Peninsula. It has a relatively small population of 4.6 million. Like most countries in its geographical region, fossil fuels are the majority of the economy of Kuwait. Kuwait has a third of the world’s reserves of crude oil. Other industries in Kuwait include wealth-management and banking.
9. Switzerland – $66,200 GDP Per Capita (PPP)
- Country GDP (billions): 715.36
- GDP growth (%): 0.8
- Unemployment rate (%, World Bank): 4.9
The GDP (PPP) per Swiss citizen is $66,200. 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 the top ten worldwide in terms of standards of living.
10. United States – $65,110 GDP Per Capita (PPP)
- Country GDP (billions): 21440
- GDP growth (%): 2.4
- Unemployment rate (%, World Bank): 3.9
While most nations on the list have (relatively) small populations, it is impressive that the world’s largest economy, the United States, can maintain a per capita GDP (PPP) of $62,606, considering its population of over 310 million people. The reasons behind its success include its large domestic automotive industry, a technological sector that fosters innovation, and a system of democracy that protects entrepreneurial and intellectual property rights.
The 25 Richest Countries in the World (2020)
Below are the top 25 richest countries in the World (2020):
|Rank||Country||GDP Per Capita (USD )|
|7||United Arab Emirates||69,430|