There are more than 200 countries in the world, and many of them generate billions, sometimes even trillions, in revenue every year.
Sheesh, those are some Apple-sized numbers right there.
Fortune analysed some per capita data, “based on purchasing power parity, which compares the currencies of countries in relation to the cost of goods and is used to weigh a country’s economy in relation to others”, and came up with a list of the top 15 wealthiest countries in the world.
To put things into perspective, South Africa ranks 93rd in the world with $13 179 (R175 300) per capita, which doesn’t even come close to the top 15.
Not that we were expecting to crack the nod. Here they are:
15. Iceland ($52,150)
14. Netherlands ($53,580)
13. Saudi Arabia ($55,260)
12. United States ($59,500)
11. San Marino ($60,360)
10. Hong Kong ($61,020)
9. Switzerland ($61,360)
8. United Arab Emirates ($68,250)
7. Kuwait ($69,670)
6. Norway ($70,590)
And now the big five:
5. Ireland ($72,630)
The Emerald Isle comes in at Number 5 with:
…one of the highest growth rates in Europe helping it round out the top five richest countries in the world. Spending, investment and construction drove GDP growth in Ireland in 2016, the IMF reports.
4. Brunei ($76,740)
While Brunei’s GDP growth declined in 2016, the country actually faired better than expected, according to the IMF. The wealthy country, which is made up of just over 400,000 people, has seen success in adjusting to downturns in the oil market, despite it being a main export of Brunei. Nearly 90% of Brunei’s revenue came from oil and gas, in 2014 the latest figure from the IMF.
3. Singapore ($90,530)
Singapore remains one of the world’s richest countries and saw its real GDP grow by 2.7% year-on-year in the first quarter of 2017, the IMF reported. The city-state with a population of 5.6 million has been continuously growing since last year as the global electronics trades has rebounded.
2. Luxembourg ($109,190)
Luxembourg, with a population of close to 600,000 ranks as the world’s second-richest country. The country possesses a strong workforce and its 2016 growth exceeded the European Union’s overall growth. However, the IMF notes that changing a changing landscape from Brexit and policy changes coming for the U.S. can create market instability.
And finally, the richest country in the world is…
1.Qatar ($124,930)
This Middle Eastern country might be small, but it packs an economic punch, often ranking as the richest country in the world per capita:
Qatar’s population is approximately 2.27 million, giving it a total GDP of approximately $124,930 per person and making it the richest country in world as of 2017, according to the IMF. The country has grown despite facing lower prices for hydrocarbon, a major revenue source for Qatar, which is used for fuel. Qatar’s GDP growth is expected to continue through 2017.
I guess it helps when you hire indentured slave labourers from the likes of Nepal and Bangladesh to build your World Cup stadiums, take their passports, force them to work in dangerous conditions and pay them peanuts.
Yup – that’s true.
There you have it.
[source:fortune]
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