12 richest countries in the world

There are many ways to predict how rich a country is and then compare it to other countries. One of the best and most commonly used methods is to calculate GDP per capita (this is the total value of services and goods produced by a country during an entire year, divided by its population).

It can easily show how wealthy citizens are on average. However, it does not take into account the difference in lifestyle and lifestyle costs in different parts of the world.

For precise measurements, economists often use purchasing power parity GDP, an alternative to GDP per capita. It helps to calculate the total cost of services and goods produced by a country in a year if they were sold at US dollar prices. This system makes it easier for economists to compare countries with different living standards by measuring their GDP (PPP) per capita in international dollars and then identifying the wealthiest among them.

A strong economy often has a positive effect on the average life expectancy and living comfort of citizens. However, this does not have any effect on the level of satisfaction of citizens or the level of their happiness. The happiness rating can easily show you that having more GDP does not guarantee happiness. Here is a list of the 12 richest countries in the world as of 2022, which vary in size, population, and annual income.

12. Netherlands - US$47,633 PPP per capita.

With nearly 17 million inhabitants and a GDP per capita (PPP) of $47,633, the Netherlands is much more than just the country of tulips. It is one of the cleanest, crime-free, disciplined and cultured countries you will find. The sources of the company's success are mainly three key sectors: agriculture, mining and manufacturing. What most people don't know about the Netherlands is that it's actually a kingdom of four countries: Curaçao, Aruba, Saint Maarten, and the Netherlands. The Netherlands actually occupy almost % of the territory of the Kingdom.

11. Ireland - $48,755 PPP per capita.

The beautiful country of Ireland has a per capita income of $48,755 with a population of just under 5 million. The main industries that drive the country's economy are mining, food production, textiles, and stable products in any economy. In the OECD (Organization for Economic Co-operation and Development) rating, Ireland ranks th.

10. Saudi Arabia - US$52,010 PPP per capita.

Saudi Arabia is one of the richest and most famous oil producing centers in the world. It has an oil economy with strong state control over core economic activities with a high GDP. It has a per capita PPP of $52,010 thanks to the fact that it owns over % of the world's oil reserves and is also the largest oil exporter. The oil sector is one of the main sources of all income and export earnings of the country.

9. United States of America - US$54,629 PPP per capita.

It may be hard to believe, but the United States, one of the largest and most powerful countries in the world, is only the 9th richest country in the world. However, one of the main reasons for its 9th place is that while most countries have a relatively smaller population, the US has a huge population which makes this ranking quite special as even after a population of over 310 million they managed to maintain a GDP (PPP) of US$54,629. The main reasons for this country's success are the technology sector, the intellectual property sector, the innovation-promoting sector and the large domestic automobile industry.

8. Switzerland - US$57,235 PPP per capita.

Switzerland is one of the most beautiful and best holiday destinations. Its GDP (PPP) per capita is $57,235, which is truly impressive. Swiss banking as well as financial institutions keep the country and its economy afloat. It's worth noting that most of the world's richest people and several of the largest companies hold Swiss bank accounts; this means that Switzerland always has excess capital if they want to use it for investment purposes. Geneva and Zurich have been known as two of the most famous cities in the world and are consistently ranked among the world's best cities with the highest standard of living.

7. United Arab Emirates - US$67,202 PPP per capita.

This Middle Eastern country, also known as the UAE, has a population of over 9 million and a per capita GDP of US$67,202 32,278. With an area of ​​more than 54,556 67,674 sq. miles, the UAE can easily fit into the US state of New York (sq mi), but its population is slightly larger than the US state of New Jersey, meaning that even though the country has a smaller population, but their average income and cost of production are higher. One third of US dollars per capita comes from the services sector, oil and telecommunications revenues.

6. Norway - US$67,619 PPP per capita.

This small country of just 4.97 million people has a GDP per capita of $67,619, helping people reap the benefits of a small but strong economy. Some of the main sources of this country's economy are natural resources, fishing and oil exploration. Norway ranks eighth in the world in crude oil exports, ninth in the world in natural gas exports, and th in the world in refined oil exports. According to the Happiness Index, Norway currently leads the ranking of the happiest citizens.

5. Kuwait - US$71,601 PPP per capita.

Kuwait is a relatively small country in Western Asia with a relatively open economy. Its citizens have a GDP (PPP) per capita of about $71,601. The Kuwaiti dinar is also known worldwide as the world's most expensive currency. Almost % of the world's oil reserves are located here, so oil makes up almost half of Kuwait's GDP, and the other half is export earnings and government revenue.

4. Brunei - US$80,335 PPP per capita.

Brunei is a tiny country located in southeast Asia. It has a rich economy, combining domestic and foreign entrepreneurship, social welfare measures, government regulation and village traditions, which have resulted in a per capita GDP (PPP) of US$80,335. Most of it is fully provided by the export of natural gas and crude oil. Like most other oil-rich countries on this list, the government here has shown progress in diversifying its economy away from just gas and oil.

3. Singapore - US$84,821 PPP per capita.

This amazing country recently moved from 5th position to 3rd in terms of GDP per capita. Its GDP (PPP) per capita is about US$84,821, which is five times the world's average per capita income. The main reasons for Singapore's wealth are its chemical export industry, financial services sector and liberal economic policies that encourage growth and innovation. Singapore also has the world's second busiest port, exporting more than billions of dollars of goods per year.

Luxembourg – $2 PPP per capita.

Luxembourg is a symbol of wealth and ranks second on this list. Its GDP (PPP) per capita is about $94,167 1.24, which is nine times the income of the average global citizen. The main factors contributing to the development of the economy of this country are a dynamic financial sector, a dynamic industrial and steel sector, and prudent fiscal policies. Banking in this country is also the largest sector of the economy of this country with an asset base exceeding a trillion dollars alone.

1. Qatar - US$146,011 PPP per capita.

Qatar is undoubtedly the richest country in the world due to its gigantic GDP (PPP) per capita of US$146,011. Qatar is known worldwide for its oil exploration industry, with the oil industry accounting for over 70% of government revenue, 60% of GDP and over 85% of export earnings. Due to its enormous wealth and economic success, Qatar was chosen to host the year's FIFA World Cup, making Qatar the first Arab country to be given the opportunity to host the FIFA World Cup.

So, these are the 10 richest countries in the world as of 2022 with the highest GDP (PPP) per capita. These countries thrive on industrial jobs, tourism, and agriculture, or even on natural resources such as natural gas, oil, or crude oil. All this helps to generate high incomes for the economies of the respective countries, which help them to stay afloat and succeed.