What makes a country considered as “rich”? Primarily, a nation is categorized as prosperous and rich if it earns just right to support the basic needs of all its citizens. The following countries in this list are among those with the highest GDP value measured and calculated in the US dollars. Moreover, these countries also have high rankings in terms of their income, expenditure and output value. Find out more about these countries as you check out this top 10 list.
The United States continues to remain in the list of powerful countries in the world, and it gains its composure despite a series of terrorist attacks, political concerns and natural calamities that had a massive impact on its economy. With its advanced technology and state-of-the-art products, the US is still among the most respected countries in the world. It also ranks in the top 10 list of the largest manufacturers of technology products, among several others.
9. Hong Kong
Although Hong Kong is one of the most crowded places in the planet, it continues to awe economists and foreign investors because of its ability to sustain economic stability for decades. The country is one of the most recognized financial destinations in the world, and Hong Kong’s tourism remains as one of its strongest assets. Indeed, the country has more to show the world, and it is not surprising that this small nation will soon rise as one of the most powerful in the planet.
The United Arab Emirates is one of the richest nations in the world, as it has an annual GDP that is estimated to each as much as $48,400. The country is also the third richest in the Middle East Asia, which is known for its exported goods such as dates, dried fish and natural oil and gas. This nation has managed to discover other means of income after its oil reserves have been depleted. Hence, its economy continues to reach great heights because of its resourcefulness and notable rulers.
As with most Arab countries that are considered as rich and prosperous, Kuwait relies on its massive petroleum deposits for its revenues. With its large supply of crude oil, the country is able to maintain economic stability for decades. It is also important to note that this wealthy has a small population with less than three million residents, which make it just one of the few Asian nations that is not overpopulated.
This prosperous nation in Europe is among the richest in the continent. It is also considered by most economists as a tax haven, which is one of the reasons why multi-millionaires from other countries choose to live in Luxembourg. They appreciate the fact that this country gives them a chance to experience freedom from high taxes in their homeland. Steel industry and telecommunications are among the nation’s sources of revenues.
The beautiful country of Switzerland is not only one of the safest places to live on earth, but it is also among the wealthiest in the planet. It is known for its stable economy, as it has managed to maintain its GDP value despite the changes that have shook other countries in Europe. Among the revenue sources of Switzerland include banking, tourism and agriculture. Just like Luxembourg, this nation is a tax haven that most foreign investors prefer to live in.
Norway has approximately 5 million residents, and each of them benefit from the country’s high GDP and remarkable economy. It is also worth noting that Norway shares it large border with several other wealthy nations such as Sweden, Russia and Finland. Oil and natural gas reserves are among this nation’s sources of income.
Singapore is one of Asia’s richest countries, which is also a renowned financial center in the continent aside from South Korea, Taiwan and Hong Kong. With a little over than 5 million residents in this small, yet prosperous country, there is so much more that Singapore is bound to offer the world in the coming decades.
2. Brunei Darussalam
With a high GDP of about $50,000, this list will never be complete without including Brunei Darussalam in it. The main sources of revenues of this country include crude oil and natural gas exports, and about 90 percent of its GDP is credited to revenues from its petroleum sales.
Topping this list of the top 10 richest countries in the world is Qatar, and there is no doubt about it being in the number one spot because it has at least $182 billion worth of GDP annually. The peninsula’s main source of income is petroleum, which accounts for about 85 percent in Qatar’s earnings from exported goods.