Who are the top 10 richest countries in the world of 2017? We take a look at the richest countries when it comes to GDP per Capita when purchasing power parity (PPP) is taken into account. It’s no surprise to see that oil rich countries in the Middle East make up the majority of the list, but what other countries will join them?
Qatar - $140,649 GDP per CapitaWhen it comes to GDP per Capita (that's the country's income divided by the number of citizens), Qatar ranks as the richest country in the world with a whopping $140,649 GDP per Capita. The country's wealth comes from its oil which accounts for 70% of the government's revenue!
Luxembourg - $97,662 GDP per CapitaLuxembourg is one of the few countries who rank in the top 10 whose wealth doesn't come directly from oil. The GDP per Capita of Luxembourg is $97,662 with the country's wealth coming from its financial and banking sectors.
Singapore - $82,763 GDP per CapitaSingapore is a tiny city-state so it may be a surprise to see it rank as one of the world's richest countries. With a GDP per Capita of $82,763, Singapore has the world's second busiest port and is home to some of the world's biggest financial institutions. It's Singapore's financial sector which has helped generate its wealth.
Kuwait - $73,246 GDP per CapitaKuwait may be a small country to the east of Iraq but what it lacks in size it makes up for in oil with the commodity accounting for up to 95% of all revenue. As a result, Kuwait is extremely rich and has a GDP per capita of $73.246
Brunei - $71,185 GDP per CapitaJust like Kuwait, Brunei is another small country that is incredibly wealthy thanks to oil. Oil and natural gas are two of Brunei's biggest resources and account for nearly all of their exports. As a result, it's no wonder they have a GDP per Capita of $71,185 making them the fifth wealthiest country in the world when it comes to GDP per Capita.
UAE - $67,674 GDP per CapitaThe United Arab Emirates is another tiny country that is incredibly rich. The UAE has a GDP per Capita of $67,674 and has just over 9 million citizens. There's no need to guess what resource has made the UAE rich though...it's oil. However the country is diversifying its income and is aiming to become less reliant on oil in the future.
Norway - $64,856 GDP per CapitaIt may be a surprise to see Norway rank so highly, however with a population of just under 5 million people, Norway has a GDP per Capita of $64,856 making it a very wealthy country. Norway's wealth comes from its access to natural resources including oil and gas as well as fishing.
Switzerland - $57,235 GDP per CapitaSwitzerland is a small landlocked country in central Europe and with a population of just over 8 million people, they've had to rely on the Swiss banking and financial sector for their wealth. Switzerland has a GDP per Capita of $57,235 and is the third richest country in Europe in terms of GDP per Capita.
USA - $54,630 GDP per CapitaIt's no surprise to see the USA in the top ten as its the richest country in the world, although only ranks at number ten for GDP per Capita. However when you take into account the USA's population of 324 million, it's impressive that their GDP per Capita sits at $54,630. The USA benefits from a strong manufacturing industry as well as having access to plenty of natural resources and one of the world's leading financial sectors.
Saudi Arabia - $51,924 GDP per CapitaThanks to Saudi Arabia's oil, it's no surprise to see it rank as the 10th richest country with a GDP per Capita of $51.924. With a population of just under 31 million people, Saudia Arabia is the world's largest oil producer and exporter. Not only that, but the country has the world's second largest oil reserves, behind the USA.