Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high standard of living. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy.
Thus, we already know which countries are leading in this indicator in 2023, reflecting their economic strength and living standards. Luxembourg, a small European country with an area of 2,586 km, bordering Belgium, France and Germany, holds the first position among the richest countries in the world.
Britain's population holds $9.24 trillion (£6.01 trillion) in private wealth, surpassing France, Italy, Canada and Australia. This is despite its relatively small population compared with countries such as Germany, which ranked fourth with a total wealth of $9.36 trillion.
1. Burundi. Burundi consistently ranks among the poorest countries globally. Economic instability, political unrest, and reliance on subsistence agriculture contribute to its economic struggles.
Ireland's generous corporate-tax regime has made it a hub for multinational tech and pharmaceutical companies. These firms generate much of their income in Ireland, inflating its GDP, but funnel that money to their headquarters (or shell companies) abroad.
It has enormous natural resources, particularly oil and natural gas. In 2023, it was the world's 11th-largest economy by nominal GDP, 6th-largest by purchasing power parity (PPP) according to IMF, and 5th-largest according to World Bank.
Spain. Spain is one of the largest economies in Europe with a total wealth of $8.48 trillion in 2022. Spain ranks among the wealthiest countries by per capita net worth.
According to the CIA World Factbook and Forbes, the Arabian nation of Qatar holds the title of the "richest country of the world," boasting an annual average per capita income of $103,768.60. For a little perspective, that's more than double the average annual per capita income in the United States!
The country's economy ranked as the 17th-largest in the world and 7th-largest in Europe by nominal GDP in 2023. It also ranked as the 11th-largest in the world and 5th-largest in Europe by PPP in 2023. According to the IMF, as of 2022, Turkey had an upper-middle income, mixed-market, emerging economy.
The country's gross domestic product per capita is one of the lowest among wealthy nations, and unemployment rates are high in this heavily service-based economy. Long stretches of beach, a mild climate and 15 UNESCO Heritage Sites make Portugal an increasingly popular place to visit.
Sounds downright crazy right? That is because in this case the level of poverty has been deciphered on account of the amount of debt he has, and it's huge. The mantle of the poorest man on earth has been given to French citizen Jerome Kerviel. One of the biggest banks in Europe, Société Générale, once employed Kerviel.
Poverty rates were highest in the states of Mississippi (19.58%), Louisiana (18.65%), New Mexico (18.55%), West Virginia (17.10%), Kentucky (16.61%), and Arkansas (16.08%), and they were lowest in the states of New Hampshire (7.42%), Maryland (9.02%), Utah (9.13%), Hawaii (9.26%).
Greece led The Economist's annual ranking of rich-world economies in 2023. The study gathers data on five indicators: "core" inflation - which excludes volatile components such as energy and food; GDP; employment, and stock market performance for 35 global mostly rich countries.
Germany is rich in timber, lignite, potash, and salt. Some minor sources of natural gas are being exploited in the state of Lower Saxony. Until German reunification, the German Democratic Republic mined for uranium in the Ore Mountains (see also: SAG/SDAG Wismut).
The country is considered by many to be a successful post-communist state. It is classified as a high-income economy by the World Bank, ranking 21st worldwide in terms of GDP (PPP), 21st in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index.
