5 Countries with the Highest Savings Rate in the World

In this article, we will look at the 5 countries with the highest saving rates in the world. We have also discussed the saving trends of Americans in another article. If you are interested in reading about that along with a more extensive list, head straight to the 15 Countries with the Highest Savings Rate in the World.

5. Norway

Gross Savings (% of GDP): 49%

Norway’s strong saving culture is influenced by its strong social welfare system, high standard of living, and prudent fiscal policies. Citizens benefit from generous social benefits, such as healthcare and education, which are funded by high taxes and government savings from oil revenues. The country’s Oil Fund, one of the world’s largest sovereign wealth funds, instills a culture of saving for future generations.