Top 10 Richest Countries In The World By GDP Per Capita in 2024

According to the International Monetary Fund, here are the top 10 richest countries in the world by GDP per capita in 2024.

When you think about the world’s wealthiest countries, you most likely consider GDP per capita. In this article, we will present the world’s top ten richest nations based on GDP per capita, as determined by the International Monetary Fund (IMF).

However, if you are looking for the GDP per capita of China or the GDP per capita of the United States, this list may surprise you because the countries that appear on top are also some of the smallest countries on the planet.

GDP, or gross domestic product, is a metric that represents the value of all products and services generated in a country. Now, divide this figure by the number of full-time inhabitants in a country to obtain an estimate of how wealthy or poor a country’s general population is. However, when inflation rates and the pricing of local goods and services are included in, the picture of a country’s wealth becomes far more precise. When we combine both components, we obtain a value known as the PPP, or buying power parity.

Top 10 Richest Countries In The World By GDP Per Capita in 2024

1. Luxembourg 

GDP: $89.1 billion.
Population: 639 thousand.

Luxembourg is one of the few European nations that emerged unhurt from the Covid-19 epidemic. The country is well-known for leveraging its resources to improve people’s living conditions, healthcare, and education. Furthermore, the country’s gorgeous castles, lush vegetation, and picturesque canals make it one of the world’s most popular tourist destinations.

2. Ireland

GDP: $589.57 billion.
Population: 5.03 million.

Following the 2008 financial crisis, Ireland made significant efforts to overhaul its banking system. To get its economy to where it is now, it used policies such as salary cutbacks in the public sector. Furthermore, Ireland is one of the world’s major corporate tax havens, with multinational corporations (such as Apple, Google, and Microsoft) contributing more than 50% to the Irish economy in recent years.

3. Switzerland 

GDP: $813 billion.
Population: 8.70 million.

Switzerland boasts a thriving financial industry in addition to being one of the world’s most popular tourism destinations. The country also profits from exports of precious metals, precise equipment, and gear like as computers and medical gadgets. The services sector accounts for around 74% of Swiss GDP, followed by industry (25%), and agriculture (less than 1%). Switzerland also has the lowest VAT rate in Europe.

4. Norway 

GDP: $546.77 billion.
Population: 5.41 million.

Norway is now again the leading petroleum provider in Western European territory. The country has achieved significant financial improvement since the economy crumbled during the Covid-19 crisis. Furthermore, Norway has a $1.3 trillion sovereign wealth fund to deal with any urgent crisis, which is also the world’s largest.

5. Singapore 

GDP: $497.35 billion.
Population: 5.45 million.

Singapore is one of the world’s largest commercial and trade hubs. The country’s population includes numerous wealthy individuals. The economy has taken many successive knocks in recent years, beginning with the pandemic and then with China’s stuttering economy (a critical trading partner, particularly for Singapore’s manufacturing sector, which accounts for 21.6% of total GDP).

Richest Countries In The World – Full Lists

Country	Continent	GDP-PPP per capita (in USD)
Luxembourg	Europe	140,312
Ireland	Europe	117,988
Switzerland	Europe	110,251
Norway	Europe	102,465
Singapore	Asia	91,733
Iceland	Europe	87,875
Qatar	Asia	84,906
United States	North America	83,066
Denmark	Europe	72,940
Macao SAR	Asia	70,135

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