15 Richest Countries In The World 2022 Update
15 Richest Countries In The World 2022 Here is the ranking of the 15 richest countries globally, using their GDP per capita using Purchasing Power Parity (PPP). PPP is a popular metric used by macroeconomic analysts that compare different countries' currencies through a cost of a "basket of goods" and allows for a more direct comparison of economic productivity and living standards between countries. So, buckle up as we bring you 15 Richest Countries In The World 2022. Before that please subscribe,
like and turn on that notification buttom and also leave a comment on your opinion on this video. 15. Germany GDP per capita (PPP): $55,891.2 Germany is one of the richest nations in the world in terms of GDP per capita and the excellent living standards of its population. It is among the greatest exporters in the globe. Automobiles, chemicals, electronic and electrical goods, machinery, etc. are all exported from Germany. The nation boasts the greatest manufacturing economy in Europe.
14. Iceland GDP per capita (PPP): $58,512.7 As measured by the nominal GDP in 2007, Iceland is considered the world's 7th most productive country and the 5th most effective in terms of PPP. It is estimated that about 85% of the country's primary energy supply is met from domestically produced renewable sources of energy. The use
of hydroelectric and geothermal power has made the country the largest per capita electricity producer in the world. It has also made Iceland one of the world's top greenest economies. Iceland's mixed economy primarily depends on governmental intervention as well as increased levels of free trade. Tourism, manufacturing, aluminum smelting, fisheries, agriculture, etc. are a few of Iceland's key industries. Iceland had a severe financial crisis in December 2007 as a result of the failure of the three main commercial banks in the nation. As a result, the GDP of the nation significantly decreased. Nevertheless,
the Icelandic economy recovered in 2011 because to a rise in tourism and solid GDP growth. 13. Austria GDP per capita (PPP): $58,649.7 In terms of GDP per capita, Austria is one of the world's richest countries due to its highly well-developed social market and industrialized economy. In addition to its highly developed industries, international tourism is also one of the major contributors to the economy of Austria. Approximately 66% of the imports and
exports of Austria come from its trade with the other member states of the European Union. 12. Netherlands GDP per capita (PPP): $59,469.1 The Netherlands is considered the world's 17th largest economy and one of the world's highest-earning nations. The prosperous and open economy of the Netherlands is heavily
dependent on foreign trade, low unemployment and inflation rates, stable industries, and the country's significant role as the major transportation hub of Europe. Some of the major industries of the Netherlands include petroleum refining, food processing, financial services, electrical machinery, etc. Among the top exporters in the world, the Netherlands trades mostly with Germany, the United Kingdom, France, the United States, Russia, China, Italy, and Belgium. The Netherlands' economy was recognized as the fourth most competitive economy in the world in a 2018 survey by the World Economic Forum. 11. Denmark GDP per capita (PPP): $60,334.8
As measured by the nominal GDP, Denmark has the world's 36th largest national economy and the 51st largest economy in terms of PPP. In 2020, Denmark's $58,439 Gross National Income per capita was considered the world's 7th highest. With more than 5,822,763 inhabitants living in the country, the mixed economy of Denmark is rightly supported by the high standards of living, dependence on foreign exports and imports, and an improved level of government services and income transfers. The World Economic Forum classified Denmark's economy as the 10th most competitive in the world and the sixth most competitive in Europe in its 2018 report.
Construction, medical and transportation equipment, food manufacturing, wind turbines, and other important industries are just a few that Denmark is home to. Fish, meat, dairy products, pharmaceuticals, machinery, crude oil, and other goods are the principal exports of the nation. In 2018, Denmark exported 460 million gigajoules of energy. 10. San Marino GDP per capita (PPP): $61,006.8 The stable and prosperous economy of San Marino is partly owed to its resourceful citizens, who were able to successfully adapt and utilize their available resources. Traditionally, San Marino was a country of farmers and stone-quarrellers, producing cheeses and agricultural products, along with unique trinkets made out of stone.
Today its hard-working citizens contribute to the economy by producing ceramics, tiles, building materials, furniture, clothing, fabrics, paints, quality spirits, and wines for export. The export of fruit has also been a factor in the nation's recent economic growth. San Marino's resourceful population, who were able to successfully adapt and maximize their existing resources, are in part responsible for the country's stable and thriving economy. San Marino was formerly a nation of farmers and stone quarries that produced cheeses, other agricultural products, and distinctive souvenirs made of stone.
These days, the nation's hard-working residents support the economy by making ceramics, tiles, furniture, building supplies, paints, premium spirits, and wines for export. The recent economic expansion of the country has also been influenced by the export of fruit. 9. Brunei GDP per capita (PPP): $64,724.1 Having gained independence from Britain in 1984, the small country of Brunei, situated in South Asia, quickly grew to become one of the richest countries in the world. Its Sultan regulates everything from the military to the economy, imposing unique punishing rules and providing free education and medical care for its citizens. Brunei has an over 97% literacy rate. Brunei is known as the second happiest
nation on the continent behind Singapore, which may be surprising, seeing as the country's wealth is not equally distributed, with much of the population living in poverty. Nevertheless, while the US's public debt in 2018 was 106% of its GDP, it was only 2.4% in Brunei. The offshore oil drilling business, which generates economic wealth through export, is what has made Brunei so wealthy. It is commonly known that a significant portion of the population in Brunei owns an automobile, which is more than the average for the world. Prostitution frequently goes "unnoticed," even though there are stringent laws against it. Even the Sultan
has been the subject of countless sensational articles for being a "sex-obsessed king." 8. United States GDP per capita (PPP): $65,279.5 With resource-rich land and the biggest economy in the world, the United States has a strong purchasing power. It supplies its energy and can export its oil and gas for profit, and the size of its economy and the high rate of real GDP growth goes unmatched by any other country.
As a relatively deregulated market economy with a decentralized political system, there are virtually no state-owned enterprises, and the legal system protects the liability of investors. Although such stats attract talented people worldwide to take a shot at earning a fortune, it remains one of the top countries where wealth is not shared equally. In America, entrepreneurship is promoted from a young age and is backed by academic curricula and research organizations. In addition, a sophisticated financial structure that promotes entrepreneurial operations has taken the position of equity financing. However, the public
debt is now $27,000 billion, which is $3,000 billion more than it was before to COVID-19. 7. Norway GDP per capita (PPP): $67,978.7 Norway is known to have the highest standard of living on Earth and rank top on the human development index with its advanced education systems, distinct social security system, and universal health care. Its raw oil and gas resources exports lead the economy, while abundant reserves guarantee future prosperity, including seafood, hydro-power, lumber, minerals, natural gas, and freshwater. Petroleum is another export that has been bringing Norway riches since the 1970s.
While parents make sure that children understand the value of production at school from an early age, the government invests in providing free education for its citizens. In Norway, staying active at work is a cultural requirement; without it, people would not enjoy life. The two primary industries are technology and telecoms. With unemployment and poverty rates at 3 and 0.5 percent, respectively, it is understandable why other countries aspire to Norway's standard of living. Despite the high cost of living in Norway, Norwegians don't mind investing in their country's economy, and their high incomes allow them to spend lavishly abroad.
6. United Arab Emirates GDP per capita (PPP): $69,957.6 Back when it was known as the Trucial States, the pearl industry prevailed in this country from the 1770s until the late 1930s, when pearl-diving was a hobby turned into a significant source of income for the people living in the small villages. Having been able to establish some of the most luxurious resorts in the world, Dubai, along with the rest of the country, has moved on to tourism, which keeps investing in itself through ongoing growth and popularity.
After oil was discovered in the late 1950s, residents of Dubai and Abu Dhabi clashed, with the latter winning the oil war and prospering while the former struggled. While Abu Dhabi prospered, Sheikh Rashid bin Saeed Al Maktoum, the ruler of Dubai, never lost faith in the promise of his state. On 1958, he loaned the state tens of billions of dollars to invest in its infrastructure, and by 1960, the state had built its first airport.
5. Switzerland GDP per capita (PPP): $70,276.6 Considered one of the happiest and healthiest nations on Earth, Switzerland is home to German-, French- and Italian-speaking citizens, living peacefully and thriving together for over 800 years. Even with its high cost of living, expensive products, and services and the Swiss Frank's extremely high value with a high conversion rate to other currencies, people stream to engage with this country through business or tourism. A stable economy with a fixed currency value, Switzerland is regarded highly by investors searching for a safe haven for highly profitable feats. Attractive tax rates bring in investment, while international companies seek to expand their business to Switzerland.
The inventive Swiss craftily transform raw materials into high-quality products like their in-demand cheese, chocolate, jewelry, home furnishings, and accessories. The largest share of the GDP comes from exports, with equipment and pharmaceuticals coming in second and diamonds and precious metals bringing in about $100 billion annually. Millions of tourists are drawn to Iceland every year by its mountains, charming cities, and opulent way of life; the country's highly developed tourism industry does not scare them away with exorbitant pricing.
4. Ireland GDP per capita (PPP): $87,212.0 Low corporate taxes continuously attract numerous multi-billion-dollar companies to relocate and grow their business in Ireland, contributing to the GDP and the high standard of living for the people. Although citizens receive high wages, the income per capita has been growing much slower than the collective GDP. Nevertheless, the country's stability and ongoing wealth gain from tourism, agriculture, and manufacturing, is coveted by others. Metals and food goods, including beer, computers,
components, and software, as well as textiles make up the majority of the nation's exports. Ireland also relies heavily on its tertiary sector, which includes contact centers, law firms, accountancy firms, customer service companies, stockbrokers, and restaurants. 3. Qatar GDP per capita (PPP): $93,851.7
With only a small fishing industry and almost no schools just fifty years ago, the once-sleeping peninsula off Saudi Arabia's eastern coast has become a significant oil-exporting world center in the last two decades. Qatar first began massive exports of natural in 1997 to Japan and Spain, expanding to other countries in the early 2000s. Fifteen years and 14 natural gas plants later, its GDP has grown exponentially from $30 billion to over $200 billion. Qatar has the largest natural gas reserves globally, following Russia and Iran, at nearly 900 trillion cubic feet, earning 60% of its collective GDP. It started producing 46,500 barrels per day in 1951 after finding oil in 1939 and natural gas in 1983. The Royal Family amassed a large portion of the income, with portions also going to Great Britain, the country's dominant nation, even though some of it was utilized to begin modernizing the nation.
After becoming independent in 1971, Khalifa bin Hamad overthrew his father and reduced the allowances given to the Royal Family while increasing spending on social programs, housing, healthcare, education, and pensions. The nation gains large returns through investments in international companies, banks, even the soccer team Paris Saint-Germain and London real estate. 2. Singapore GDP per capita (PPP): $101,936.7 Having no natural resources to build its economy on has not stopped the hard-working and inventive Singaporeans from turning their country into the second-richest in the world. Being a central world hub for global financial services firms drives the economy. The jobs in manufacturing, services,
transport engineering, and logistics pay its citizens well, while electronics, biotechnology, and chemicals are the country's main exports. Singapore draws millions of tourists each year by building upscale infrastructure and greatly growing its tourism industry. An extremely investor-friendly economic climate with free trade, an open market, and enticingly low tax rates was also created by the government, which attracted foreign companies and business visitors.
1. Luxembourg GDP per capita (PPP): $120,962.2 Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. With its inflation rate at only 1.1%, its wealth is also extremely stable. According to the World Economic Forum, the primary factor for Luxembourg's high GDP is the large number of people working in this tiny, landlocked nation while residing in the neighboring western European countries. The advanced infrastructure and high values
for the labor market attract investment and duplicates of the big outside firms.