The Richest Countries in The World Based on GDP Per Capita 2004-2014

kuwaitGDP per capita is a key metric used to measure the wealth of a country. GDP per capita simply means gross output of all sectors of the economy divided by a country population. For a country to be considered rich; it has to have high disposable income distributed across the population. A country with high GDP but low per capital can’t be considered rich. Aside from disposable income, unemployment rate is another important measure of a country’s wealth. Countries with low unemployment rate and high disposable among their population are thus considered rich. Ever considered asking your self what is the richest country in the world’? Well here is a definitive list of top 10 richest countries in the world in 2004-2014.

Luxembourg

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Luxembourg is a tiny European nation considered to be the richest nation in the world according to GDP per capital. The country has an average of $77840.5. The country gets it wealth mainly from the manufacture of iron and steel as well as a highly developed financial sector. The nation also has one of the lowest unemployment rates in the world, though its population is tiny.

Norway

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Norway is the second richest nation in the world. The country has an average GDP per capita of $65188.52. Norway derives its wealth from its highly efficient, manufacturing industry. The nation is also famed for its vibrant social welfare scheme, which ensures every citizen plays part to its prosperity.

Qatar

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Qatar, a country located in the Middle East is considered the third richest nation in the world. Qatar derives it wealth mainly from natural oil reserves. The country also boasts of highly developed industries particularly mining, transportation, trade and the financial sector. The country has an average GDP per capita of $58406.46.

Switzerland

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Known as the banking capital of the world, Switzerland is the 4th richest nation in term of GDP per capita. The country has a vibrant manufacturing and financial sector which contributes much of the wealth. The average GDP per capita for the “banker of Europe” is estimated to be around $55485.6.

United States of America

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United States of America is not only a world superpower politically but it’s also one of the richest nations in the world. The U.S. has an impressive GDP per capita income $45863.02 The country is highly industrialized, with sectors such as Manufacturing. IT, entertainment highly developed. Despite having a relatively larger population the rate of an employment is very low, making the U.S. one of the top countries where inequality is very low.

Singapore

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Singapore, a country located in south East Asia is considered the 6th richest country in the world according to GDP per capital. The country has a GDP per capita of $36897.87. The country has been able to thrive as result of stability in the country’s political system, as well as a vibrant tourism sector.

Hong Kong

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Hong Kong is the 7th richest nation in the world according to GDP per capita. Hong is a highly industrialized country deriving its wealth from wealth, transport and financial sector. The country has an average GDP per capita of $33534.28 . The semi-autonomous region of china is also known for its political stability and tourism.

Kuwait

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Kuwait is the 8th richest nation in the world. The country derives it wealth from abundant oil reserves. Aside from oil, the Arabic nation has a stable monarchy-led government. Additionally the Asian nation has an open trade policy, which is very attractive to investors all over the world. It has an average GDP per capita of $29728.62.

United Arab Emirates

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The United Arab Emirates, popularly known as UAE, ranks number 9 in the world top ten richest nations.

The UAE derives much of its wealth from abundant reserves of oil plus the tourism sector. The country capital city Dubai is famed world over as a major trading destination. The country open trade policy ensures that the destination continues to attract more investments from the world over The country is also famed for its date plants. It has an average GDP per capita of $24077.73.

Brunei

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Brunei is the 10th richest nation according to GDP per capita –  $24044.67. The tiny Asian nation is rich with oil and natural gas reserves. The small population and the abundant resources make this nation one of the richest in the world.

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