In this article, we take a look at the 5 wealthiest countries in the world by GDP per Capita To see more countries, go to 25 Wealthiest Countries in the World by GDP Per Capita.
5. United States
GDP Per Capita: $70,249
The United States is the biggest economy in the world in nominal terms, and is the most powerful country in the world with regard to its economic, military and cultural power. However, it lags behind a few countries in GDP per Capita. Regardless, it is high, at $70,249 as of 2021.
America’s wealth results from several factors, spanning from the dollar’s status as the world’s reserve currency, the US fossil-fuel and other natural resources. But most importantly, the country’s wealth comes from the share of knowledge and technology intensive (KTI) industries in its economy. The Silicon Valley in the US is, in many ways, the new American frontier when it comes to research and development for high-technology.
4. Singapore
GDP Per Capita: $72,794
Singapore is one of the wealthiest countries in the world, with a GDP per Capita of $72,794 as of 2021. Its nominal GDP is close to $400 billion as of the same year. Singapore is often regarded as an educational superpower, with its educational system among the best in the world. It adds some of the highly skilled people in its knowledge-based economy.
3. Norway
GDP Per Capita: $89,154
Norway is one of the wealthiest countries in the world by GDP per Capita, due to a combination of factors. These include surplus energy sources like oil and gas, coupled with highly developed services and manufacturing sectors, and a highly educated workforce.
2. Switzerland
GDP Per Capita: $91,991
Switzerland is located in Central Europe. The country has a strong luxury sector, with companies like Rolex, Hublot and Patek Philippe. The watches made in the country are highly sought-after around the world.
Another factor that has led to the country becoming rich is its overwhelmingly friendly business and tax laws. It has one of the lowest corporate tax rates on the continent, which is only 8.5% as of 2022. Moreover, its personal income tax rate is also one of the lowest in the world, at only 11.5%.
These factors, combined with its reputation as a global tax haven, make the country extremely attractive in corporate terms. Switzerland was also the go-to destination for offshore banking. However, that is no longer the case as the country is now a signatory to the Common Reporting Standards.
1. Ireland
GDP Per Capita: $100,172
Ireland is the wealthiest country in the world by GDP per Capita, which is $100,172 as of 2021. It is another European country with a low top-corporate-tax-rate of 12.5%, allowing it to attract significant corporate capital from around the world.
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