To learn which countries are the richest of them all, check out this list of the top 10 richest countries in the world and see where your country ranks.
Sweden is a Scandinavian country. This European nation of more than 9 million is home to cities such as Stockholm, Gothenburg and Malmo. Its populace enjoys high living standards, which makes it among the richest countries in Europe. But Sweden’s status as one of Europe’s richest countries will be even further elevated over coming years as a result of its ongoing effort to position itself as a major hub for innovation and new technology.
Mexico known officially as the United Mexican States is the tenth most populous country in the world at 9th position in our list of richest countries in the world.In the last 30 years, Mexico has transformed into a manufacturing economy with free trade arrangements with countries like the United States, Canada, and 44 others.
With an estimated 2016 GDP of $4.5 trillion and a population of 127 million, Japan is one of world’s richest countries. The country has an annual per capita income of $42,830, which is considerably higher than most other developed nations. Japan’s high average income can be attributed to its highly skilled workforce and robust manufacturing base. Globally competitive sectors such as autos, electrical machinery, and electronics make up a large part of Japan’s economy.
Australia is a prosperous country with some of richest people. The average income per person is $48,000 and it’s growing quickly. In fact, their middle class has become quite large. For example, nearly 27% of Australian households have an income greater than $100,000. Australia has free trade arrangements with many countries around the Asia-Pacific Rim. The country has vast availability of natural resources like coal, natural gas, iron ore, and gold.
Canada is the world’s second-largest country in terms of total area after Russia. Canada ranks sixth in the list of the world’s richest nations.Canada not only has the world’s third-largest proven oil reserves but also vibrant manufacturing and service sectors. Canada has free trade relationship with the United States and 75% of its exports are headed to US every year.
5. United Kingdom
The United Kingdom is predicted to overtake Germany as Europe’s largest economy. With its large population and high per capita income, it has a sizable middle class (or high-net-worth individuals) compared to other European countries and may be next year’s most prosperous country. If Brexit goes smoothly, that will likely be a boon for London’s financial services industry, which could see increased trade with both Europe and non-European countries. The UK’s agriculture industry will likely remain stable even after Brexit due to the country’s access to resources and topography. In addition, its farming sector has been largely protected from globalization because much of its food production is domestic—only 4% of what Brits eat comes from abroad.
France, known for its wines and sophisticated cuisine is the fourth richest country in the world. Paris, the capital city is popular for its fashion houses, classical art museums, and monuments.France’s economy has many private and semiprivate businesses in all sectors. However, government involvement is high in important sectors like defense and electrical power generation.
In 2020, Germany is estimated to have a GDP of $3.7 trillion, making it one of the richest countries on earth. The average salary is $51,528. With a total area of 357,021 square miles and 83 million people, it’s no surprise that there are so many rich people living in Germany. Rich individuals contribute to its economy with their lucrative businesses and good jobs for other people as well. Many rich Germans live in Berlin and Frankfurt; however, Hamburg is home to more millionaires than any other city. Almost half of all millionaires live here and enjoy its large port as well as its great shopping opportunities.
2. United States
United States is one of top ten richest countries in world. A great place to live and work and America still ranks high for its love of business. The United States has a highly developed market economy and is a leading economic power as well as being home to one of the largest economies in world. Its standard of living, as measured by gross domestic product per capita, or GDP per capita is typically rated among the highest. It also has one of highest standards for human development due to very high life expectancy, very high literacy rates and very low infant mortality rates at birth.
China’s economy is growing rapidly, even as its growth rate begins to taper off. In fact, China’s GDP growth for 2016 (6.7%) is second only to India’s 7.1%. That said, it seems likely that China will become – and remain – one of the world’s richest countries over time. The Chinese government has recently announced a plan to transition away from manufacturing-based industries and toward service-based industries like finance, real estate and healthcare. It hopes to achieve that transition over roughly 15 years.