10 – The United States - $56,116 GDP (PPP) per capita
USA ranked 6th richest nation
While most nations on the list have small populations (relatively), it is impressive that the world's largest economy, the United States, can maintain a per capita GDP (PPP) of $56,116, considering its population of over 310 million people. Reasons behind its success include its large domestic automotive industry, technological sector that foster innovation, and a system of democracy that protects entrepreneurial and intellectual property rights.
9 – Switzerland - $57,235 GDP (PPP) per capita
Switzerland ranked 7th richest nation
The GDP (PPP) per Swiss citizen is $61,086. Swiss banking and financial institutions keep this country and its economy afloat. It is important to note that some of the wealthiest people and companies in the world own Swiss bank accounts and therefore Switzerland has excess capital to use for investment purposes. Zurich and Geneva, Switzerland's most well-known cities, have consistently ranked among among the top ten worldwide in terms of standards of living.
8 – Norway - $61,197 GDP (PPP) per capita
Norway ranked 4th richest nation
This Nordic nation's per capita GDP of $61,197 allows its 4.97 million people to reap the benefits of a small yet robust economy. Driven by fishing, natural resources, and major petroleum exploration, Norway is the eighth largest exporter of crude oil, 9th largest exporter of refined oil, and 3rd largest exporter of natural gas in the world.
7 – Ireland - $65,144 GDP (PPP) per capita
Ireland ranked 9th richest nation
The Emerald Isle has a per capita income of about $65,144 with a population of about 4.8 million people. The main industries that boost its economy are textiles, mining, and food proctuon - staple products in any economy. In OECD (Organization of Economic Cooperation and Development) rankings, Ireland actually places 4th overall.
6 – The United Arab Emirates - $69,971 GDP (PPP) per capita
The United Arab Emirates ranked 3rd richest nation
This Middle Eastern federation of emirates has a land area of about 32,278 sq. miles, which means it could easily fit within New York State (54,556 sq. miles). With a population of 9.2 million people, it's a bit more populated than the state of New Jersey. A third of the $69,971 per capita economy comes from oil revenues, while the service sector and telecommunications also contribute significantly. The UAE is the second largest economy in the Arab world after Saudi Arabia.
5 – Kuwait - $74,646 GDP (PPP) per capita
Kuwait is a small, relatively open economy and its citizens enjoy a per capita GDP (PPP) of $74,646. The highest-valued currency unit in the world currently is the The Kuwaiti dinar. With nearly 10% of the world's oil reserves, petroleum accounts for nearly half of GDP and 95% of export revenues and government income. In recent years, Kuwait has done little to diversify its economy due to positive fiscal situation.
4 – Brunei - $78,369 GDP (PPP) per capita
Brunei, a small country with a wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition has led to GDP per capita (PPP) of $78,369. It is almost completely supported by exports. Like other oil countries in the list the government has shown progress in diversifying the economy away from just oil and gas.
3 – Singapore - $85,382 GDP (PPP) per capita
Singapore ranked 5th richest nation
This tiny city-state has moved up from 5th position to take 3rd with per capita income (PPP) of $85,382, which is five times the average per capita income for an ordinary individual in the world. The basis of Singapore's wealth is its financial services sector, a chemical export industry, and its liberal economic policies that encourage growth and innovation. Singapore has the second busiest port in the world, exporting $414 billion of goods in 2011 alone.
2 – Luxembourg - $101,926 GDP (PPP) per capita
Luxembourg ranked 2nd richest nation
A symbol of wealth, number two on the list has a per capita GDP (PPP) of $101,926, which is nine times the world average. The backbone of this strong economy is its vibrant financial sector, prudent fiscal policies, and dynamic industrial and steel sectors. Banking in Luxembourg is the largest sector of its economy with an asset base of over $1.24 trillion alone.
1 – Qatar - $141,543 GDP (PPP) per capita
Quatar ranked 1st richest nation
Qatar ranks number one on the list of the top 10 richest nations because of its high GDP (PPP) per capita of $141,543. Qatar has a well-developed oil exploration industry where the petroleum industry accounts for 70% of its government revenue, 60% of its GDP and 85% of its export earnings. Because of its wealth and economic success, it has been chosen as the host of the 2022 FIFA World Cup, the first Arab nation to ever hold this rol