These Are The World’s Richest Countries, Across 3 Metrics
How do you measure the economic success of a country?
By one classic measure, GDP per capita shows individual economic prosperity. But comparing countries simply by this metric doesn’t tell the whole story. To get a better idea of living standards, it helps to look at how far your money will go along with adjusting for labor productivity.
This graphic, via Visual Capitalist’s Niccolo Conte, shows the world’s richest countries by three different measures, based on data from The Economist and Sondre Solstad. All figures are in U.S. dollars.
World’s Richest Countries, by GDP per Capita
As the table below shows, smaller countries fare much better—of the top 10 richest countries, eight of them have populations under 10 million people.
Luxembourg, whose financial sector makes up 25% of its GDP, is the world’s richest country by GDP per capita.
With a population of just 660,000, the country is also considered a tax haven, incentivizing foreign investment due to its favorable tax policies. Due to the small nation’s considerable wealth, its citizens enjoy free education, healthcare, and transportation.
Bermuda, like Luxembourg, is known as a tax haven. Several multinationals shelter billions in the island nation—including Google, which moved $23 billion in a shell company in 2017 to lower foreign tax costs.
With a GDP per capita of $82,808, Singapore is the richest country in Asia thanks to its role as a global hub for finance, trade, and tourism.
A New Lens: Purchasing Power Parity (PPP)
Another way to compare countries adjusts GDP per capita based on the relative price of goods and services in order to account
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