5 Countries with the Highest Savings Rate in the World

1.Djibouti

Gross Savings (% of GDP): 87%

Djibouti, situated in the Horn of Africa, saw an increase in its gross domestic savings rate according to the latest data from the World Bank in 2022, which stood at 87%. This is way higher than the rate of previous years, where the rate typically ranged from 10% to 20%. Despite this increase, Djibouti maintains an average gross domestic product (GDP) per capita (adjusted for purchasing power parity) of $5,893.

The country has also been actively investing in infrastructure projects, particularly in its strategic location as a gateway to the Red Sea and the Indian Ocean. Such investments often necessitate high levels of savings to fund large-scale development initiatives. Moreover, the government’s policies and incentives may have encouraged saving behaviors among its citizens, possibly through tax incentives or savings promotion campaigns.

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