The richest countries in the world are always a curious subject. Gross domestic product data is taken into account when determining and listing the wealth of countries. gross domestic product, abbreviated as GDP; is determined by the country’s export income, economic income, consumption rate, and the value of the goods and services produced in a year. Per capita income is obtained by dividing these values by the country’s population. So which are the richest countries in the world by GDP per capita in 2022-2023?
List of 15 Richest Countries In The World in 2022 – 2023:
Luxembourg – $122.74
Luxembourg, one of the smallest countries among the member states of the European Union, is the richest country in the world. The gross domestic product per capita in the country is $122.74. The fact that it is located in the middle of the European continent and is very close to countries such as France and Germany is one of the most important reasons why Luxembourg has become an economically strong country. The country, where banking is developed, provides the majority of its income from the financial sector. The country, which is also developed in terms of the iron and steel industry, exports iron to the European Union and the United States.
Singapore – $102.74
Singapore, an island country located in Southeast Asia, is the second richest country in the world. The gross domestic product per capita in Singapore is $102.74. Being one of the most important trade centers in the world, the country stands out with its competitive economy. The competitive economic atmosphere is also free and innovative. The second important source of income in the country’s economy based on trade is industry. Shipbuilding occupies the first place among the most profitable branches in this field. Oil refineries, electronics, textiles, and food are the areas that follow shipbuilding.
Ireland – $99.24
Located in Northwest Europe, the Republic of Ireland ranks 3rd among the richest countries in the world. With a GDP per capita of $99.24, Ireland’s economy is largely based on the high-tech industry. The government imposes low taxes on foreign investors, making the country a European hub for foreign investors. As a result of this application, world giants such as Facebook, Google and Apple have offices in Ireland.
Qatar – $97.26
Qatar, a Persian Gulf country, is the 4th richest country in the world. The country’s official name is the State of Qatar, with a per capita gross domestic product of $97.26. The main source of the country’s economy is oil and natural gas. Since it has the third-largest natural gas reserves in the world, natural gas is exported to many different countries. A lot of work is being done to diversify economic incomes in Qatar. There are projects for sectors such as finance, industry, and tourism to be important branches that feed the country’s economy.
Macao – $90.61
Macao Special Administrative Region of the People’s Republic of China, officially known as the 5th richest country in the world, is on our list. The gross domestic product per capita in Macao, a special administrative region of the People’s Republic of China, is 90.61 dollars. Macao, which was a part of Portugal in the past, experienced an economic leap after being connected to the People’s Republic of China. Macao has many casinos, whose economy is based on the weaving industry, the toy industry, and the manufacture of electronic gadgets. Since casinos are banned in Hong Kong and the People’s Republic of China, many people living in these two countries visit Macao to gamble.
Switzerland – $75.88
Located at the intersection of Western, Central, and Southern Europe, Switzerland is on the list as the 6th richest country in the world. The gross domestic product per capita in the country is $75.88. The economy of Switzerland, which has experienced economic difficulties in 2020 due to the coronavirus, is based on the developed industrial sector. The leading branch in the industrial sector is the watch industry. The economy of the country, which is famous for its watches and banks, is largely fed by the service sector. Livestock and agriculture are also important sources of income in the country.
Norway – $69.17
Ranking 7th among the richest countries in the world, Norway is located on the Scandinavian Peninsula. With a gross domestic product of $69.17 per capita, Norway is shown as the country with the best welfare level among other European Union countries. Based on the mixed economic model, the Norwegian economy was based on fishing before the industrial revolution. After taking control of the oil reserves in the North Sea, the country’s economy began to rely on oil production. Although the most important source of today’s economy continues as oil production, the government is working to diversify economic incomes.
United States – $68.31
The United States of America, which has the most influential financial power in the world, is the 8th richest country in the world with a gross domestic product of $ 68.31 per capita. America, which is very developed in terms of natural resources and infrastructure, is among the countries that direct world trade. America, which is also the world’s largest oil and gas producer, is home to most of today’s most important companies. In addition, when the market value of the New York Stock Exchange is analyzed, it is observed that it is the largest stock exchange in the world.
Brunei – $64.41
Brunei, located on the island of Borneo in Southeast Asia, ranks 9th among the richest countries in the world. The gross domestic product per capita in the country is 64.41 dollars. Sultan of Brunei Hassanal Bolkiah is among the richest people in the world. Oil and natural gas are among the most important pillars of the country’s economy. Japan ranks first among the countries where Brunei sells the most natural gas and oil. In addition to oil and natural gas, the country’s economy also generates income from the timber, paper, and glass industries.
Hong Kong – $62.84
Officially known as the Hong Kong Special Administrative Region of the People’s Republic of China, the country is the 10th richest country in the world. The gross domestic product per capita in Hong Kong is $62.84. Hong Kong, where international trade is very common, is the trade center of the Far East. Tourism is one of the most important parts of the country’s economy. The country, which welcomes many tourists, especially those who come for business trips, is the most popular tourist destination in China. However, Hong Kong is one of the countries that offer the most expensive living conditions to business people when compared to other countries.
San Marino – $61.51
San Marino, one of the 5 micro-states in Europe, ranks 11th in the list of the richest countries in the world with a gross domestic product of $61.51 per capita. The most important share in the economy of San Marino, which ranks 5th among the smallest countries in the world, belongs to tourism. After tourism, banking, electronics, and ceramics are among the most important income sources of the country, which are visited by more than 3 million people every year. The majority of the country’s population earns their living from agriculture.
Denmark – $61.48
Located in the south of the Scandinavian countries, Denmark is the 12th richest country in the world. In a country where the gross national product per capita is 61.48 dollars, the most important denominator of the economy belongs to the service sector. Apart from public administration, education and health services, trade, and transportation services are among the prominent areas in the service sector. Agriculture, animal production, and the extraction of natural energy resources are also some of the important areas that develop the Danish economy.
Netherlands – $60.46
The Netherlands, the largest of the 4 countries that make up the Kingdom of the Netherlands, is the 13th richest country in the world. The gross national product per capita in the country is $60.46. The Dutch economy is fed by natural gas reserves in the country. Natural gas reserves in the Netherlands are large enough to make up 25% of all reserves in the European Union. In addition, the country, which has grown due to foreign trade, is also home to Amsterdam Schiphol Airport, one of the largest airports in Europe.
United Arab Emirates – $59.84
Located in the southeast of the Arabian Peninsula, the United Arab Emirates is 14th on our list. Oil is the country’s biggest source of income, with a gross domestic product of $59.84 per capita. Natural gas also contributes significantly to economic growth. Oil refining facilities have the most important place among the industrial establishments of the United Arab Emirates. The country is working to diversify the economy by developing different branches of industry with the revenues it receives from oil. Many factories dealing with cement, aluminum, cable, and tile production were established within the scope of these studies.
Iceland – $58.15
Iceland, an island country in the north of the Atlantic Ocean, is the 15th richest country in the world. The gross domestic product per capita in the country is $58.15. Being an island country, the main source of Iceland’s economy comes from fish and fishing. The fish caught in the country are processed and exported and converted into income. In addition, the country is in a very developed position in terms of winter tourism and thermal tourism. There are many luxury hotels in the country where thousands of tourists are hosted every year.