In this piece, we will take a look at the world’s five richest countries by GDP (PPP) per capita. If you want to learn more about the global economic environment, then take a look at World’s 20 Richest Countries by GDP (PPP) per Capita.
5. United Arab Emirates
GDP Per Capita In 2023: $88,221
The United Arab Emirates is an Asian country that is part of the region commonly dubbed as the Middle East. Its major economic regions are Abu Dhabi and Dubai, and both contribute significantly to key economic sectors such as petroleum exploration, banking, tourism, and real estate. The UAE has slowly shaped up to become one of the most scientifically advanced Middle Eastern nations, as it is the first Arab country to have reached Mars as well as among the few that have sent astronauts to the International Space Station (ISS).
4. Republic of Ireland
GDP Per Capita In 2023: $124,596
The Republic of Ireland is an island European nation made up of most of the island of Ireland. It has a $633 billion economy in PPP terms, and the high GDP per capita is unsurprising due to the nature of the Irish economy. Ireland is one of the most popular business destinations in Europe and the world due to a large concentration of multinationals operating within its shores.
3. State of Qatar
GDP Per Capita In 2023: $124,834
The State of Qatar is another prosperous Middle Eastern nation. It is one of the few countries in the world with more foreigners than locals living in its borders. This also allows Qatar to have a highly productive economy, and the country is a key player in the global liquefied natural gas (LNG) market. The LNG market has risen to prominence as of late, as the Russian invasion of Ukraine forced Europe to pick the fuel over cheap Russian gas.
2. Grand Duchy of Luxembourg
GDP Per Capita In 2023: $142,490
The Grand Duchy of Luxembourg, or Luxembourg, is a landlocked Western European nation. The services sector is responsible for the country’s economic fortunes, and within this sector, the lucrative banking industry plays an important role. Luxembourg is Europe’s third biggest financial center after London and Zurich. A budding sector of the Luxembourg economy is the space exploration segment, which seeks to build an ecosystem of firms that extract resources from asteroids and other celestial bodies.
1. Singapore
GDP Per Capita In 2023: $157,354
Singapore is a city and a state and is one of the few of its kind in the world. The city is a global financial sector, and it plays a crucial role in Asia’s economy particularly due to its location which makes it a crucial shipping hub for valuable products such as consumer electronics. Singapore is also known to house some of the highest numbers of millionaires in the world, and the country is known the world over for low levels of corruption.
Disclosure: None. You can also take a look at 20 Countries Hit Most by Earthquakes and 11 Most Undervalued Biotech Stocks to Buy According to Analysts.
