Richest Countries in the World 2022

It is common for those who claim to have found the key to happiness to say that money has nothing to do with it. – “Money cannot buy happiness,” as the saying goes, is a common adage.




While this statement is unquestionably true, compelling evidence suggests that financial stability may occasionally contribute to a greater sense of well-being.

Is it possible that money can’t purchase happiness? According to the saying’s true meaning.

One of the main truths underlying this counterargument is that a less-than-ideal financial status causes many unfavorable emotions and circumstances.

To rent an apartment, buy a house, or merely purchase a vehicle might be difficult or impossible to be financed when one’s credit score is poor. Similarly, persons on a tight budget may find it difficult to keep up with necessities like power, water, and even food.

For the most part, the necessities of life and luxuries are out of reach for many people due to a lack of financial resources. One’s health may be harmed due to having too much or too little money.

In nations where health care is not universal, well-off individuals may typically afford better care than those less fortunate. Unhappiness with one’s financial situation may also lead to depression and other mental health issues.




What about the idea that money can’t purchase the most important thing in the world, a memory? That is unquestionably the case.

To be fair, money may be spent on various activities that contribute to the creation of lasting memories, such as vacations, concert or sports event tickets, bar hopping, day excursions to the cinema or the amusement park, and so on.

But it’s up to each person to make their memories. And there are many things money can’t bring about, like friendships and spiritual serenity, that you can’t buy with your wallet.

Money can’t buy happiness, as the old saying goes. “The finest things in life aren’t possessions,” as another adage goes.

Having enough money to satisfy one’s basic needs is a noble and selfless objective since a lack of it may lead to various unpleasant consequences, ranging from mental tension and dissatisfaction to poor physical health.

As a measure of national wealth, Gross Domestic Product Per Capita.

It is feasible to rank nations based on their wealth and compare them to one another by looking at their GDP per capita. Remember that GDP per capita does not always reflect the average pay in a country’s population.




For instance, the GDP per person in the United States in 2019 was $65,279.50, yet the average yearly salary was $51,916.27, and the median pay was $34,248.45.

Even the richest nations have their share of impoverished people, and the poorest countries have their share of affluent people, but this is a good way to gauge a country’s overall economic health.

236 nations and territories are ranked by the International Monetary Fund (IMF). As of October 2021, the following will be the top 10 most popular topics on Quora:

According to World Bank data, these are the world’s richest countries based on GDP per capita.

  1. Monaco – $190,512
  2. Liechtenstein – $180,366
  3. Luxembourg – $115,873
  4. Switzerland – $87,097
  5. Macao (China SAR) – $86,117
  6. Ireland – $85,267
  7. Norway – $67,389
  8. United States – $63,543
  9. Denmark – $61,063
  10. Singapore – $59,797




People and businesses in a developing country are typically at a significant disadvantage when competing in the global marketplace because of the country’s underdeveloped infrastructure and immature economy.

War, famine, illness, and political turmoil are all major interruptions that may significantly influence a country’s GDP (along with nearly every other aspect of life). For the time being, emerging countries are more likely to feature on the list of the world’s poorest.

Tax avoidance and the Gross National Product (GNI)

International business activities may distort GDP figures. Government tax regulations that benefit foreign firms have led to the designation of some nations (including Ireland, Liechtenstein, & Switzerland) as “tax havens”.

International corporations may be funneling money via these nations rather than earning it domestically, which might account for a major portion of GDP in these countries.




Many economists monitor each country’s Gross National Income (GNI) to counteract the negative impact of tax havens on GDP.

Although it counts the entire value of goods produced in a nation, this statistic also considers the money that enters or exits a country via foreign enterprises, making it comparable to GDP.

According to this method, it’s possible to better gauge an economy’s overall health and wealth by considering tax haven activities.

World Bank’s Atlas Method of GNI Per Capita (current US$) rankings of the richest countries in the world.

  1. Liechtenstein – $116,440
  2. Switzerland – $84,310
  3. Norway – $78,180
  4. Luxembourg – $73,500
  5. United States – $64,530
  6. Ireland – $64,150
  7. Denmark – $63,070
  8. Iceland – $62,420
  9. Qatar – $56,210
  10. Singapore – $54,920




As a reminder, GNI does not exclude all foreign financial transactions. It only aids in resizing the bottom line. For example, Ireland, Liechtenstein, and Switzerland are all still in the top 10 tax-avoidance locations, despite their numerical numbers having altered.

There are numerous British Overseas Territories that would be in the top ten if the list included territories as well as nations, including Bermuda ($117,740), the Isle of Man ($83,160), and the Cayman Islands and Channel Islands ($66,220).

A single multi-billion dollar financial transaction may have an enormous impact on per-capita GNI in any four countries.

While this may be true for some of the nations listed above, it should be remembered that tax haven status is merely one of many potential sources of national revenue. For example, there is a huge tourist industry in several of the British Overseas Territories.

Also, remember that Monaco’s omission from this list does not mean it is a tax shelter. Instead, Monaco’s GNI data was unavailable.

What country is the richest on each continent?




As interesting as it is to look at the world’s wealthiest nations, it is much more fascinating to look at the statistics by continent. According to GDP per capita, the wealthiest nations on each of the six continents would look like this:

  • Richest European Countries 2021: Luxembourg ($118,001), Ireland ($102,390), Switzerland ($93,520)
  • Richest Asian Countries 2021: Singapore ($97,057), Qatar ($61,790), Israel ($49,840)
  • Richest Countries in North America 2021: United States of America ($63,416), Canada ($52,790), Puerto Rico ($34,140)
  • Australia/Oceania: Australia ($62,620), New Zealand ($48,350), Palau ($11,840)
  • Richest Countries in South America 2021: Uruguay ($16,970), Chile ($16,800), Argentina ($9,930)
  • Richest African Countries 2021: Seychelles ($13,140), Mauritius ($8,680), Equatorial Guinea ($8,630)

To learn more about each topic, click on the links provided.

Country Profiles: The World’s Five Most Prosperous Nations*

Four of them are among the best tax havens globally.

Luxembourg

Luxembourg, a country in Europe, has been named the world’s richest nation. A country’s per capita GDP was used to arrive at these conclusions. To get a country’s GDP per person, take the total GDP and divide it by the number of people living there.




In terms of quantifying a country’s wealth, GDP per capita is a great metric since it considers the level of life. A nation’s relative prosperity may be determined by comparing its GDP per capita with the GDP per capita of another country and a few other indicators.

In October 2021, Luxembourg’s GDP per capita record-breaking $131,300 US dollars.

Ireland

In October 2021, Ireland’s GDP per capita was $102,390 US dollars. For comparison, Ireland’s GDP in 2017 was $70,220 US dollars. ” It’s safe to say that things are looking better in Ireland, but the country’s reputation as a tax haven may mean that the typical Irishman hasn’t discovered the rainbow.

Switzerland

In October 2021, Switzerland’s GDP per capita was $93,520, making it one of the richest nations in the world.




Norway

Only one of the world’s wealthiest countries, the United States, does not qualify as an international tax haven, with an October 2021 GDP per capita of $82,240 US dollars.

United States

Some people may be surprised to find that the United States is considered a tax haven by many financial watchdog organizations, given the extent many huge American firms take to conceal their earnings.

Many federal and state laws allow foreign customers to transfer their funds via U.S. banks with little or no tax consequences.

Also See: Richest Asian Countries 2022

This is a list of the world’s top 10 richest countries:

  1. United States ($18.62 Tn)
  2. China ($11.22 Tn)
  3. Japan ($4.94 Tn)
  4. Germany ($3.48 Tn)
  5. United Kingdom ($2.65 Tn)
  6. France ($2.47 Tn)
  7. India ($2.26 Tn)
  8. Italy ($1.86 Tn)
  9. Brazil ($1.80 Tn)
  10. Canada ($1.53 Tn)




CountryGDP (IMF '19)GDP (UN '16)Per Capita
United States21344.67001862447500000018624475000000
China14216.50001121828102929811218281029298
Japan5176.210049362118278754936211827875
Germany3963.880034777962744973477796274497
United Kingdom2829.160026478986546352647898654635
France2761.630024654539752822465453975282
India297222596423828722259642382872
Italy2025.870018589131639281858913163928
Brazil1960.190017959256810161795925681016
Canada1739.110015297604922011529760492201
South Korea1656.670014112455899771411245589977
Australia141713044631049651304463104965
Russia1610.380012460150569271246015056927
Spain1429.140012372550196541237255019654
Mexico1241.450010769144644771076914464477
Indonesia1100.9100932259177621932259177621
Turkey706.2370863711710542863711710542
Netherlands914.0030777227541581777227541581
Switzerland707.5700668851296244668851296244
Saudi Arabia762.2590639617050945639617050945
Argentina477.7430545866164479545866164479
Sweden547.1230514475856961514475856961
Poland593.2950471402266588471402266588
Belgium531.8130467955267357467955267357
Iran484.6630425402616011425402616011
Thailand516.6620407026319505407026319505
Nigeria444.9160404649125399404649125399
Austria459.5890390799991147390799991147
Norway427.0410371068933176371068933176
United Arab Emirates427.8760348743627620348743627620
Hong Kong381.7200320912235499320912235499
Israel381.5690317747579750317747579750
Denmark349.5240306899653410306899653410
Philippines356.6820304905638877304905638877
Ireland381.5710304819019837304819019837
Singapore372.8070296946278392296946278392
Malaysia373.4470296531469473296531469473
South Africa371.2980295440009818295440009818
Venezuela76.4580291376437340291376437340
Pakistan278.0190282506007859282506007859
Colombia336.5990282462551367282462551367
Egypt299.5890270143813412270143813412
Chile295.6140247045730477247045730477
Finland276.5720238502900312238502900312
Bangladesh314.6560220836732893220836732893
Vietnam260.3010205276171343205276171343
Portugal239.4730204836597909204836597909
Czech Republic246.1610195305084919195305084919
Greece219.7520192690813127192690813127
Peru232.0800192209529586192209529586
New Zealand210.4750187517098554187517098554
Romania244.1580186690976699186690976699
Iraq225.2570160021001474160021001474
Algeria183.6870159049145187159049145187
Qatar193.5020152451923077152451923077
Kazakhstan164.2070135005203998135005203998
Hungary168.7780125816640421125816640421
Kuwait136.9400110346129191110346129191
Angola92.1910106917535790106917535790
Puerto Rico103.5060105034500000105034500000
Morocco121.3500103606574896103606574896
Ecuador106.28909801021261898010212618
Ukraine134.88709327035485293270354852
Slovakia109.86308976859802389768598023
Cuba08968870000089688700000
Sudan08288739589582887395895
Sri Lanka84.16408132197096681321970966
Dominican Republic84.83707158358517071583585170
Kenya99.24607052597904670525979046
Ethiopia90.96807031456087270314560872
Guatemala82.33506876292057068762920570
Uzbekistan49.19906777890243567778902435
Myanmar65.66506569761606865697616068
Oman79.45806317095940263170959402
Luxembourg69.63405863132455958631324559
Costa Rica60.45905743551066857435510668
Panama70.15505518780000055187800000
Bulgaria67.04405323964348553239643485
Uruguay60.23105241971845952419718459
Croatia61.25205123100261151231002611
Lebanon58.28105045765326550457653265
Belarus60.95104740811117947408111179
Macau58.05504531108052145311080521
Slovenia55.08804470859864944708598649
Libya44.96404295953458642959534586
Ghana68.25804279386946542793869465
Lithuania54.24004277302983542773029835
Tunisia36.20404170356139741703561397
DR Congo48.45804033749260940337492609
Jordan44.25603865464788738654647887
Serbia52.42403829987189738299871897
Azerbaijan45.24803784720406937847204069
Ivory Coast45.25203676779020536767790205
Turkmenistan50.34603617988571436179885714
Bolivia43.68703380639546533806395465
Cameroon39.21903221707381632217073816
Bahrain38.95203217907359632179073596
Latvia35.72102757269848227572698482
Paraguay42.35202716510190927165101909
El Salvador26.98902679746965626797469656
Yemen29.07902537408643825374086438
Uganda30.36802530784246725307842467
Trinidad and Tobago22.43802408617656424086176564
Estonia31.02602333792056023337920560
Syria02216307512122163075121
Honduras24.65102151691535321516915353
Zambia24.61502106306397721063063977
Nepal28.92202091400495720914004957
Iceland24.54402026965997220269659972
Afghanistan19.99002023506333020235063330
Cyprus24.63802004623431120046234311
Cambodia26.97902001674785820016747858
Papua New Guinea21.45301969411573119694115731
Bosnia and Herzegovina20.15201690990414916909904149
North Korea01678860183116788601831
Zimbabwe22.29001612376364816123763648
Laos20.15301580570709015805707090
Botswana19.65101556605729415566057294
Senegal25.32001460452053114604520531
Georgia17.21401433272870714332728707
Jamaica16.15201405690107514056901075
Mali17.83301400169674814001696748
Gabon16.70901386318352613863183526
Palestine01339710000013397100000
Nicaragua12.61201323021487513230214875
Mauritius14.81201221623502412216235024
Albania15.96001186386679111863866791
Burkina Faso14.88201169511710911695117109
Brunei13.32501140026687811400266878
Chad11.37201126729577111267295771
Bahamas13.26201126180000011261800000
Madagascar12.73401122226384511222263845
Mongolia13.69601116035668511160356685
Malta15.13401099857703810998577038
Namibia13.96101094727724610947277246
Mozambique15.37201093013156810930131568
North Macedonia12.88401074578258610745782586
Equatorial Guinea12.43201067794056810677940568
Armenia13.10501057229942510572299425
New Caledonia094457148519445714851
Benin11.184088936380028893638002
Guinea12.623084761368118476136811
Rwanda10.211084737848278473784827
Republic of the Congo11.162077780818837778081883
Haiti9.602076473473067647347306
Niger9.724075282858197528285819
Tajikistan7.698069516793386951679338
Moldova12.037067726479586772647958
Kyrgyzstan8.334065512911406551291140
South Sudan3.151065344518266534451826
Monaco064680008776468000877
Liechtenstein061936775436193677543
Bermuda061273410006127341000
French Polynesia054179341525417934152
Eritrea7.718054138043035413804303
Malawi7.436053181976585318197658
Fiji5.324046711183644671118364
Mauritania5.569046671193204667119320
Barbados5.207045527932884552793288
Togo5.592044492623454449262345
Montenegro5.443043739583544373958354
Maldives5.749042242074884224207488
Eswatini4.662040070020484007002048
Cayman Islands038440806263844080626
Sierra Leone3.998036747567853674756785
Guyana3.830034366266333436626633
Suriname3.683032784450333278445033
Curacao031214499663121449966
Burundi3.573028736996062873699606
Andorra028584066262858406626
Liberia3.221027568178252756817825
Timor-Leste3.145027032857522703285752
Aruba2.875026670391062667039106
Greenland022829278822282927882
Lesotho2.811022410170762241017076
Bhutan2.840022126425872212642587
Djibouti2.392018915203691891520369
Central African Republic2.285018103887401810388740
Belize1.997017411000001741100000
Cape Verde2.042016389280991638928099
San Marino1.620015907612651590761265
Antigua and Barbuda1.717014601579091460157909
Seychelles1.654014338263171433826317
Saint Lucia1.971013970669061397066906
Somalia7.903013180575191318057519
Comoros0.726011498025731149802573
Solomon Islands1.511011339672151133967215
Guinea-Bissau1.538011226432361122643236
Sint Maarten010720670391072067039
Grenada1.272010162081481016208148
Gambia1.7410985831536985831536
British Virgin Islands0971237110971237110
Turks and Caicos Islands0917550492917550492
Saint Kitts and Nevis1.0580909854620909854620
Vanuatu0.9420837519790837519790
Samoa0.9020822233281822233281
Saint Vincent and the Grenadines0.8640765318745765318745
Dominica0.5420581484032581484032
Tonga0.4930401460313401460313
Sao Tome and Principe0.4770342781695342781695
Anguilla0337520470337520470
Micronesia0.3830329895643329895643
Palau0.3100310248000310248000
Cook Islands0290194195290194195
Marshall Islands0.2200183000000183000000
Kiribati0.1870173655146173655146
Nauru0.1140103469824103469824
Montserrat06205137562051375
Tuvalu0.04903669718536697185
Taiwan601.431000
Tanzania61.032000




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