Top 10 Richest Country In The World 2023
Today we discuss about Top Richest Country In The World. Whether the people of a country are rich or poor, the best way to understand that position is to determine their purchasing power. What he can buy with the money he earns. However, the prices of any product of one country will not match with other countries.
This is why the size of GDP is calculated on the basis of PPP to compare the economies of different countries. Nominal GDP is converted to GDP in PPP dollars to compare the living standards of the people of a country.
Let’s say you can buy a bunch of products and services in Bangladesh for 100 taka, which costs 2 dollars in the United States. As such, the exchange rate of money with US dollar will be 50 taka. In other words, 1 dollar in PPP is equal to 50 taka.
The Richest Country In The World 2021
This year, Global Finance Magazine has compiled a list of the 10 richest countries based on the International Monetary Fund‘s (IMF) April data. Luxembourg is at the top.
Luxembourg | Richest Country In The World
Luxembourg is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France to the south. Its capital and largest city, Luxembourg City, is one of the four official capitals of the European Union and the seat of several EU agencies, notably the Court of Justice of the European Union, the highest judicial authority.
Luxembourg is a representative democracy headed by a constitutional monarch, Grand Duke Henri, making it the world’s only remaining sovereign grand duchy. It is a developed country with an advanced economy and one of the world’s highest GDP (PPP) per capita.
The country ranked third last year as the richest country. This time the country’s position is at the top. Per capita income in PPP GDP has also increased compared to last year. This year’s income is 1 lakh 18 thousand dollars, which was 1 lakh 12 thousand dollars last year. Luxembourg is another tax haven in Europe.
In 2015, the country’s per capita income exceeded one million dollars. Then they did not have to go back. Although there was pressure from the global financial crisis and declining banking privacy from the EU and OECD. However, it had little effect on the economy.
However, many businesses were shut down due to the outbreak of corona. Many people have lost their jobs, but their income has not decreased much.
Singapore | Richest Country In The World
Singapore officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Singapore Strait to the south, the South China Sea to the east and the Straits of Johor to the north.
The country was in fourth place last year. The position is second until May this year. The per capita income in PPP GDP is 97,057 dollars. Income is lower than last year, but position is higher. Last year, the per capita income in PPP GDP was 1 lakh 5 thousand 700 dollars.
One of the tax havens in Asia. The source of the money is not questioned, the tax is very low. When the country became independent in 1965, it did not have much. But thanks to hard work, smart policies and proper leadership, Singapore is now one of the richest countries. Zhang Young is Singapore’s richest restaurant businessman with a net worth of 2.3 billion.
Ireland | Richest Country In The World
The Republic of Ireland occupies most of the island of Ireland, off the coast of England and Wales. Its capital, Dublin, is the birthplace of writers like Oscar Wilde, and home of Guinness beer. The 9th-century Book of Kells and other illustrated manuscripts are on show in Dublin’s Trinity College Library.
PPP GDP per capita income is 94 thousand 392 dollars. Last year, the per capita GDP in PPP was 87,000. Before Covid-19, when Europe was plagued by problems including Brexit, trade wars, refugees, Ireland was still above everything.
In 2019, when the eurozone grew by only 1.2 percent, Ireland grew by 5.9 percent. Although the growth slowed down in 2020, it is expected that the economy will see good growth again this year.
Qatar | Richest Country In The World
Qatar local vernacular pronunciation: officially the State of Qatar, is a country in Western Asia. It occupies the small Qatar Peninsula on the northeastern coast of the Arabian Peninsula, and shares its sole land border with neighbouring Gulf Cooperation Council monarchy Saudi Arabia to the south, with the rest of its territory surrounded by the Persian Gulf.
The Gulf of Bahrain, an inlet of the Persian Gulf, separates Qatar from nearby Bahrain. The capital is Doha, home to over 80% of the nation’s population. Qatar has been ruled as a hereditary monarchy by the House of Thani since Mohammed bin Thani signed a treaty with the British in 1868 that recognised its separate status.
Qatar topped the list of global finance last year. For 20 years they held the position of the richest country. However, this time the country’s position has come to the fourth. Its population is only 28 lakh. Again, 12 percent of it is local.
The sharp fall in oil prices last year has had an impact on the country’s economy. PPP GDP per capita income is 93,508 dollars. As of last year, which was 1 lakh 38 thousand 900 dollars.
Switzerland | Richest Country In The World
Switzerland is a mountainous Central European country, home to numerous lakes, villages and the high peaks of the Alps. Its cities contain medieval quarters, with landmarks like capital Bern’s Zytglogge clock tower and Lucerne’s wooden chapel bridge. The country is also known for its ski resorts and hiking trails.
PPP per capita income in GDP is 72,874 crore dollars. Last year, the country’s GDP per capita was 67,600 in PPP dollars. Switzerland doesn’t just mean watches, white chocolate, Swiss knives or natural beauty.
There is tourism, the country is also famous for heavy industry. The reputation or notoriety of financial services in Switzerland is world class. The country is also above all in terms of density of millionaires. Out of every 1 lakh adults, 9,428 are millionaires. However, the impact of Kovid has hit production hard. In 2020, the production has decreased by 2.9 percent.
Norway | Richest Country In The World
Norway is a Scandinavian country encompassing mountains, glaciers and deep coastal fjords. Oslo, the capital, is a city of green spaces and museums. Preserved 9th-century Viking ships are displayed at Oslo’s Viking Ship Museum. Bergen, with colorful wooden houses, is the starting point for cruises to the dramatic Sognefjord
The per capita income in PPP is 65,800. Oil was discovered here in 1960. As long as fuel oil prices were rising, the country’s prosperity would only increase. However, the price of fuel oil fell sharply in 2020. With that was the plague. In all, Norway’s economy shrank 2.5 percent last year. Which is the highest since World War II. Last year, the per capita income for PPP was 69,600.
United States | Richest Country In The World
United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, 326 Indian reservations, and nine minor outlying islands. It is the world’s third-largest country by both land and total area.
The United States shares land borders with Canada to the north and with Mexico to the south as well as maritime borders with the Bahamas, Cuba, and Russia, among others. With more than 331 million people, it is the third most populous country in the world.
United States topped the list of richest countries in 2020, despite a difficult time due to the Corona. The per capita income in PPP is 63 thousand 416 dollars. According to the Institute for Policy Studies, between March 2020 and April 2021, the combined wealth of 719 billionaires in the United States was 1.62 trillion. Increased by about 55 percent.
Brunei Darussalam | Richest Country In The World
Brunei is a tiny nation on the island of Borneo, in 2 distinct sections surrounded by Malaysia and the South China Sea. It’s known for its beaches and biodiverse rainforest, much of it protected within reserves. The capital, Bandar Seri Begawan, is home to the opulent Jame’Asr Hassanil Bolkiah mosque and its 29 golden domes.
The per capita income in PPP GDP is 62,371 dollars. 1,778 rooms, 257 bathrooms, a hall with a capacity of 5,000 guests, an air-conditioned stable for 200 horses for playing polo — these are just a few details of the palace of Sultan Hassan-al-Balkhiyah in the country.
Hong Kong | Richest Country In The World
Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China, is a city and special administrative region of China on the eastern Pearl River Delta in South China.
It is a former British colony, a special administrative region in China, the mainland and the gateway to Asia’s top financial centers. PPP GDP per capita income is 59,520 dollars. Low taxes, no inheritance duty, and no tariffs on imports or exports are features of Hong Kong’s economy.
Denmark | Richest Country In The World
Denmark is a Scandinavian country comprising the Jutland Peninsula and numerous islands. It’s linked to nearby Sweden via the Öresund bridge. Copenhagen, its capital, is home to royal palaces and colorful Nyhavn harbor, plus the Tivoli amusement park and the iconic “Little Mermaid” statue.
The per capita income in PPP GDP is 58,932, up from 62,371 last year. Denmark’s biggest ranking is that Denmark is at the top of the happiest countries in the world.