To determine the wealthiest countries in the world, we rely on GDP per capita. According to the International Monetary Fund (IMF), this measure reveals the average economic output per person. This article presents the top ten richest countries based on per capita GDP, providing a clear picture of global wealth distribution.
How We Rank the Richest Countries
GDP, or Gross Domestic Product, measures the total value of all goods and services produced in a country. By dividing this figure by the population, we obtain GDP per capita, which indicates the average income of a country’s residents. To refine this estimate, Purchasing Power Parity (PPP) is used to account for differences in cost of living and inflation rates.
Top 10 Richest Countries of 2024
1. Luxembourg
- Rank: 1
- Continent: Europe
- GDP-PPP: $131,380
- GDP: $88.56 billion
- Population: 639,000
2. Ireland
- Rank: 2
- Continent: Europe
- GDP-PPP: $106,060
- GDP: $564.02 billion
- Population: 5.03 million
3. Switzerland
- Rank: 3
- Continent: Europe
- GDP-PPP: $105,670
- GDP: $938.46 billion
- Population: 8.70 million
4. Norway
- Rank: 4
- Continent: Europe
- GDP-PPP: $94,660
- GDP: $526.95 billion
- Population: 5.41 million
5. Singapore
- Rank: 5
- Continent: Asia
- GDP-PPP: $88,450
- GDP: $525.23 billion
- Population: 5.45 million
6. United States
- Rank: 6
- Continent: North America
- GDP-PPP: $85,370
- GDP: $28.78 trillion
- Population: 332 million
7. Iceland
- Rank: 7
- Continent: Europe
- GDP-PPP: $84,590
- GDP: $33.34 billion
- Population: 340,000
8. Qatar
- Rank: 8
- Continent: Asia
- GDP-PPP: $81,400
- GDP: $244.69 billion
- Population: 2.93 million
9. Macao SAR
- Rank: 9
- Continent: Asia
- GDP-PPP: $78,960
- GDP: $54.68 billion
- Population: 695,168
10. Denmark
- Rank: 10
- Continent: Europe
- GDP-PPP: $68,900
- GDP: $420.8 billion
- Population: 5.86 million
These rankings highlight the countries leading in economic wealth per capita, offering a fresh perspective on global economic status.
