- By Ridam Sharma
- Wed, 26 Feb 2025 07:05 PM (IST)
- Source:JND
Richest Countries In The World:Only a handful of countries rule the economic dynamics of the world with a high GDP per capita and that is the most important aspect of any country’s economic growth. GDP per capita is a common measure to judge the living standards of a nation. It's the total product of goods and services within a country divided by its population. Though it does not include income disparity or cost of living, GDP per capita offers useful information regarding the economic performance and prosperity of a nation. In this article, we will look at the world's top 10 richest countries and see where India stands in the equation through their GDP per capita as per the World Bank report.
List of top 10 richest countries in the world:
| Rank | Country | GDP Per Capita (USD) |
|---|---|---|
| 1 | Singapore | $141,553 |
| 2 | Luxembourg | $139,106 |
| 3 | Qatar | $128,919 |
| 4 | Ireland | $124,578 |
| 5 | Macao | $116,491 |
| 6 | Norway | $100,668 |
| 7 | Switzerland | $89,315 |
| 8 | Brunei | $85,268 |
| 9 | United States | $82,769 |
| 10 | Iceland | $76,159 |
Singapore
Singapore is the richest country in the world with a $141,553 GDP per capita. The Asian country boasts a pro-business climate and location as a global trade centre in Southeast Asia. The city-state's highly developed infrastructure serves various industries ranging from finance to logistics to biotechnology.
Luxembourg
Luxembourg is the second richest country in the world because of its strong financial system and business-friendly environment. Its GDP per capita is over $139,106 with high standards of living and an influx of foreign investment.
Qatar
Qatar’s GDP per capita is $128,919. It utilises significant oil reserves alongside ambitious infrastructure projects, which are designed to reduce reliance solely on fossil fuels.
Ireland
Ireland has been facing high-speed economic development fueled by foreign investment in sectors such as technology software development and pharmaceutical industries. Its pro-corporate tax policy has established it as a lucrative base for multinational corporations.
Macao SAR
Macao SAR is unique with gaming revenues accounting for a big portion of local income levels along with tourism activities aimed primarily at Chinese tourists looking for entertainment options not available locally under harsh gambling laws there as well!
Norway
Norway's prosperity is largely due to its extensive oil reserves but also thanks to sustainable management techniques that provide long-term economic prosperity over petroleum resources.
Switzerland
The economy of Switzerland is best known for being stable, the precision engineering industry, and the banking industry. Its highly developed manufacturing sector based on high technology adds largely to its affluence with a GDP per capita well above $89,315.
Brunei
The country in Asia has experienced a significant rise in the socio-economic dynamic over the country in the past few decades, which led to a high GDP per capita of $85,268.
United States
The US, which has one of the biggest economies in the world in nominal terms (by GDP), has high standards with technological advancements in many sectors like IT services and healthcare research.
Iceland
Iceland's distinctive natural resources offer possibilities in renewable energy production (geothermal energy) while tourism also contributes enormously in generating revenues for local economies throughout this small island state.
India's Position In the World’s Richest Countries
India stands at the 122nd position globally by $10,166 GDP per capita, which is due to its large population despite being the fifth-largest economy overall. Its nominal GDP has grown significantly over recent years but remains behind many smaller nations when considering individual wealth.
