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The Richest Countries In The World 2023

Money and provision: these are the two key factors to keeping citizens happy. Each country on this list, through manufacturing prowess, free markets, or status as a tax haven, has secured specific advantages. For instance, the United States dominates the global economy with a GDP of 26.95 trillion dollars. These advantages have resulted in soaring GDPs relative to each population. As of October 2023, Luxembourg is the richest country in the world, with a GDP per capita (PPP) of $143,303.

Various economic indicators help us rank each country’s financial status: Gross Domestic Product (GDP), GDP per capita at Purchasing Power Parity (PPP), and Gross National Income (GNI). GDP per capita (PPP) is particularly useful, as it allows for a more nuanced comparison between nations by balancing income levels with the local cost of living. Now, with the latest data from the International Monetary Fund (IMF) as of October 2023, we can robustly identify which 15 countries are at the forefront of the global economy. 

For more information on prosperity metrics, check out this discussion below: Understanding Different Metrics of Prosperity.

Infographic showing the locations and GDP/Capita in PPP of the 15 richest countries in the world
An infographic showing the locations and GDP/Capita in PPP of the 15 richest countries in the world

The 15 Richest Countries in the World in 2023

















Rank Country GDP/Capita in PPP
1 Luxembourg 143,303.60
2 Ireland 137,638.16
3 Singapore 133,107.62
4 Qatar 114,210.45
5 Switzerland 89,537.32
6 United Arab Emirates 88,961.77
7 San Marino 84,135.42
8 Norway 82,236.12
9 United States 80,412.41
10 Denmark 74,957.66
11 Netherlands 73,316.85
12 Brunei Darussalam 72,609.57
13 Iceland 69,833.11
14 Austria 69,069.00
15 Saudi Arabia 68,452.85

For a quick view of the top 50 richest countries, click here: Top 50 Richest Countries Table

1. Luxembourg – $143,303

Luxembourg city, the capital of Grand Duchy of Luxembourg
Luxembourg City, the capital of Luxembourg
  • Population: 661,700
  • GNI per capita: $88,190
  • Total GDP: $89.10 billion

Luxembourg‘s expertise in finance, its position in central Europe, and its varied economy make it the world’s richest country. With over 100 banks, it’s a major player in global banking and holds a lot of money. It’s also the second-biggest place for managing investment funds, handling more than €4.6 trillion. Luxembourg has wisely grown its economy beyond just banking, moving into areas like managing investment funds, technology, and industries based on data, which have attracted a lot of investment.

The parliament of Luxembourg in Luxembourg city
The Parliament of Luxembourg in Luxembourg City

In the 1970s, Luxembourg shifted from its declining iron and steel industry to newer, innovative areas. This move shows the country’s adaptability and focus on market trends. Additionally, nearly half of Luxembourg’s workforce comes from abroad, boosting average wages and aiding prosperity. Stable governance, high living standards, and wise investments in infrastructure like transportation and buildings have underpinned this success. 

2. Ireland – $137,638

Dublin, Ireland. Night view of famous illuminated Ha Penny Bridge in Dublin, Ireland at sunset
Dublin, Ireland, Night view of the famous illuminated Ha Penny Bridge in Dublin, Ireland, at sunset
  • Population: 5,203,000
  • GNI per capita: $76,110
  • Total GDP: $589.57 billion

Ireland‘s rise to economic prominence, hovering just below Luxembourg, is attributed to a mix of factors, notably its 12.5% corporate tax rate, one of the world’s lowest. This tax policy, alongside a skilled, English-speaking workforce, has attracted multinationals like Google and Apple, making Ireland their European base and driving substantial economic growth. Ireland’s pro-globalization economic policies have further encouraged foreign direct investment (FDI), enhancing its wealth. Additionally, Ireland’s geographical position, bridging North America and Europe, has been crucial in establishing it as a key logistical hub, further advancing its economic strength.

3. Singapore – $133,107

Aerial view of Singapore city at day
Aerial view of Singapore City on a sunny day
  • Population: 5,827,000
  • GNI per capita: $64,010
  • Total GDP: $497.35 billion

Despite its limited natural resources, Singapore is a rich country, thanks to its strategic positioning as a global financial services hub with vital industries in manufacturing, transport, engineering, logistics, electronics, biotechnology, and chemical production. This financial success is further bolstered by the country’s high-end infrastructure that encourages domestic and foreign investments. In addition, the forward-thinking government further solidifies the country’s appeal with an array of investor-friendly policies that attract individuals and corporations worldwide, thus contributing to its riches.

4. Qatar – $114,210

The Bay of Doha in Qatar
The Bay of Doha in Qatar
  • Population: 3,210,000
  • GNI per capita: $62,310
  • Total GDP: $235.50 billion

Qatar, a country famous throughout the Middle East for hosting the FIFA World Cup 2022, has come a long way since gaining independence from Britain in 1971. From its humble roots of just a small fishing industry, the country has cultivated abundant fortune through its vitally important natural gas exports. However, since 1997, exports have increased tremendously, flowing directly into the country’s GDP, making Qatar one of the world’s richest countries. Qatar has this plentiful supply of oil reserves almost exclusively fueling its GDP growth. They have also made substantial investments in tech startups and financial institutions.

5. Switzerland – $89,537

Basel, Switzerland. Old town with red stone Munster cathedral on the Rhine river.
Basel, Switzerland. Old town with red stone Munster cathedral on the Rhine river
  • Population: 8,864,000
  • GNI per capita: $90,600
  • Total GDP: $905.68 billion

Switzerland is an affluent country whose people’s happiness has earned it a place among the highest-ranking countries in quality of life. Its higher cost of living may seem prohibitive to many, but generous tax rates have helped attract foreign investment from other parts of the world. This influx of global funds is apparent in Switzerland’s GDP, with exports contributing significantly to its economic health. In addition, the industrious Swiss are renowned for their fine crafts and commodities, such as cheese, chocolate, jewelry, furniture, and much more, made with care and expertise using domestically sourced resources. 

Aerial view of Leman Lake in Geneva
Aerial view of Leman Lake in Geneva

The Swiss economy is currently one of the most attractive investments in Europe, and this is because of its lack of tax on capital gains, its low-value product tax at 7.7%, and lower than average income taxes. This triple benefit encourages citizens and foreigners to invest in Switzerland’s economy, and residents show a preference for buying local products and other goods produced within the country. With such a strong commitment from investors, Switzerland has seen a steady increase in growth year after year, an investment climate that the rest of the world has noticed.

6. United Arab Emirates – $88,961

Skyline of Dubai in the UAE
Skyline of Dubai in the UAE
  • Population: 9,264,000
  • GNI per capita: $41,770
  • Total GDP: $509.18 billion

The United Arab Emirates is a vibrant country with a rapidly growing economy. Known for the luxurious lifestyles of the people living there, its capital, Abu Dhabi, has become a significant hub for business and tourism worldwide. Despite these sources of income, much of the UAE’s fortune comes from oil production. However, the government has made strides to diversify its sources of income, particularly in technology and renewable energy sectors, as well as making significant investments in infrastructure development. This focus on continuous progress and innovation will no doubt help cement its status as a prosperous country in the years to come. 

7. San Marino – $84,135

San Marino cityscape. View on San Marino city from observation deck. Yellow roofs of Scan Marino town
View on San Marino city from observation deck
  • Population: 33,900
  • GNI per capita: $41,450
  • Total GDP: $2.00 billion

San Marino is well-known for its impressive financial strength, and it deserves its place amongst the world’s richest countries. This acclaim is partly due to its export of high-quality goods, enabling San Marino to achieve one of the lowest poverty rates on the planet. Moreover, more than half of San Marino’s Gross Domestic Product comes from tourism due to its picturesque landscapes and warm Mediterranean climate. Thus it stands not only as a testament to fine Italian craftsmanship and cultured hospitality but also as an example of how financial prosperity is achieved through balance and concord.

8. Norway – $82,236

Aerial view of Oslo the capital of Norway
Aerial view of Oslo the capital of Norway
  • Population: 5,526,000
  • GNI per capita: $83,880
  • Total GDP: $546.77 billion

Norway is one of the richest countries in the world, with an estimated GDP per capita (PPP) of $82,236. This high standard of living is driven by Norway’s numerous natural resources, raw oil and gas exports, its distinct social security system, and universal health care. It has been extracting its wealth of petroleum reserves since the 1970s, supplementing them with seafood, hydro-power, lumber, minerals, natural gas, and freshwater. Wages, too, remain high despite the cost of living. 

9. United States – $80,412

New York City Financial District cityscape at dusk.
New York City Financial District cityscape at dusk
  • Population: 339,277,000
  • GNI per capita: $70,930
  • Total GDP: $26.94 trillion

The United States of America is globally recognized as a rich country. It has a large, diverse economy that produces goods and services favored by people from around the world. This economic engine is driven by natural resources such as oil and gas and highly developed industries like biotechnology, engineering, and computer technology. The United States also benefits from infrastructure such as roads, bridges, ports, airports, railroads, telecommunications networks, utilities, and farming machines, allowing its citizens to live comfortably and efficiently. Finally, the US enjoys a relative level of political stability compared to other parts of the world, which enables it to maintain domestic order while supporting international investment with sustainable policies. Altogether, these elements make the United States one of the most impressive economies in the world.

10. Denmark – $74,957

Famous old Nyhavn port in the center of Copenhagen, Denmark during summer sunny day.
Famous old Nyhavn port in the center of Copenhagen, Denmark during summer sunny day.
  • Population: 5,986,000
  • GNI per capita: $68,300
  • Total GDP: $420.80 billion

Denmark is a small but rich country located in Northern Europe. It has a strong economy driven by its high-tech manufacturing sector and service industry, which comprise the bulk of the GDP. The country also benefits from its well-developed infrastructure, with transportation networks that are highly efficient, affordable, and reliable. Denmark’s high standard of living has been made possible by sensible fiscal policies that have enabled the country to maintain low unemployment rates and high levels of growth. Moreover, Denmark’s generous welfare system provides all citizens free education, healthcare, and other services, such as childcare, which help families thrive. With easy access to credit and financial assistance for entrepreneurs, it also encourages investment in businesses and innovation. Overall, Denmark is known as one of the most prosperous countries in the world thanks to its economic strength combined with progressive social policies that are highly beneficial for all its citizens.

11. Netherlands – $73,316

Amsterdam Netherlands dancing houses over river Amstel
Amsterdam, Netherlands dancing houses over river Amstel
  • Population: 17,975,000
  • GNI per capita: $55,200
  • Total GDP: $1.09 trillion

The Netherlands is known for being a rich country, and its citizens enjoy having one of the highest standards of living in the world. The country’s fortune has been primarily attributed to its innovative economy, heavily driven by trading, particularly in services and technology. It also has an efficient infrastructure and tax policies that have incentivized both foreign and domestic investment. Additionally, the Dutch government makes conscious efforts to manage the budget responsibly, particularly when spending on public services like healthcare and education. This commitment to fiscal responsibility has paid off over the years, helping the Netherlands remain atop the list of rich European countries.

12. Brunei – $72,609

Omar Ali Saifuddien Mosque in Bandar Seri Begawan, the capital of Brunei
Omar Ali Saifuddien Mosque in Bandar Seri Begawan, the capital of Brunei
  • Population: 445,900
  • GNI per capita: $30,320
  • Total GDP: $15.15 billion

Brunei is a small, oil-rich country with a high GDP per capita compared to other countries worldwide. Surprisingly, this financial boon has not translated into lower poverty rates. Brunei’s poverty rate is higher than average for Southeast Asian countries, and the gap between the rich and the poor continues to be significant. The government of Brunei has focused on developing programs to pull more citizens out of poverty, such as zero-interest microloans and special food assistance for low-income households. Despite these efforts, progress toward reducing poverty still needs to be improved. It remains a significant challenge that requires further attention if Brunei seeks to become a genuinely rich country.

13. Iceland – $69,833

Beautiful view of the historic town of Husavik with traditional colorful houses and traditional fisherman boats lying in the harbor in golden evening light at sunset, northern coast of Iceland
Beautiful view of the historic town of Husavik with traditional colorful houses in Reykjavik, Iceland
  • Population: 394,500
  • GNI per capita: $63,460
  • Total GDP: $30.57 billion

Iceland‘s fortune relies on the fact that it has been able to transition from a resource-dependent economy to one driven by innovation and technology. This transition was primarily spurred by access to capital, investment in education, and the emergence of high-tech industries such as biotechnology, healthcare, renewable energy, and software development. The country also benefits from having abundant natural resources like geothermal energy, marine resources, and hydropower. Additionally, Iceland has built solid economic connections with other European countries, a reputation for transparent government institutions, and an educated labor force. These factors have made Iceland one of the most prosperous countries in the world.

14. Austria – $69,069

Street view in Vienna, Austria
Street view in Vienna, Austria, via Arcady / Shutterstock.com
  • Population: 9,050,000
  • GNI per capita: $52,760
  • Total GDP: $526.18 billion

Austria is a rich country due to its strong economy, supported by numerous industries such as tourism, banking, insurance, and medical technology. The country’s high-tech businesses benefit from favorable corporate tax rates and access to the EU’s single market. In addition, Austria boasts a robust social safety net that has helped support economic growth and keep unemployment low. Furthermore, the country’s proximity to other major European economic powers has allowed it to capitalize on expanded export markets. This level of interaction has enabled businesses to create jobs and contribute significantly to Austria’s riches. Furthermore, Austria is home to several prominent universities and research centers that have become hubs for knowledge-intensive business activity.

15. Saudi Arabia – $68,452

Saudi Arabia, Riyadh
Saudi Arabia, Riyadh
  • Population: 32,375,000
  • GNI per capita: $59,660
  • Total GDP: $1.07 trillion

Petroleum and natural gas are the backbone of the Saudi Arabian economy, but diversification is key to its future ambitions. Tourism is a key focus, with the Ministry of Tourism planning a $1 trillion investment over the next decade. Saudi Entertainment Ventures will also invest $13.3 billion to develop 21 entertainment destinations across 14 cities. Additionally, the General Entertainment Authority aims to put $64 billion (by 2028) in the entertainment sector for the sake of licenses and events. In technology, the government plans to allocate 2.5% of its GDP to research and innovation by 2040 and has announced $6.4 billion in investments for future technologies. Several months ago, Saudi Arabia was not among the 15 richest countries globally; if these decisions pay off, Saudi Arabia may make it to the top.

Extreme Prosperity in Partially Recognized Territories and Countries

Sunset over Victoria Harbor as viewed atop Victoria Peak
Sunset over Victoria Harbor as viewed atop Victoria Peak
  • Macao – SAR GDP per capita (PPP): $98,157
  • Hong Kong – GDP per capita (PPP): $72,860
  • Taiwan – GDP per capita (PPP): $72,485

Hong Kong, Taiwan, and Macao are three highly prosperous territories that have become symbols of success in the eastern hemisphere. While many refer to these regions as ‘countries,’ they either do not have sovereignty under international law, remain part of China, or are in a unique political situation. Hong Kong became a special administrative region of the People’s Republic of China in 1997 after more than 150 years of British rule. Taiwan is a de facto independent nation controlled by neither China nor any other sovereign entity. Macao, meanwhile, is an autonomous administrative region of China led by a governor appointed by Beijing. Despite their quasi-independence from the parent country, all three territories enjoy considerable economic prosperity and serve as models for developing nations across the globe.

After reviewing the world’s richest countries and their economic prosperity, it’s clear that financial success has many different looks. Luxembourg currently leads the way across most metrics. Others on the list also possess strong economies due to a focus on innovation and investment in technology, finance, tourism, and natural resources. It is no surprise, then, that Ireland, the United Arab Emirates, Qatar, Switzerland, and Norway are leading countries in attaining riches. However, it is incredible how there is still room to grow and expand within such thriving economic spaces. While San Marino and Brunei might boast lower GDPs per capita or employ fewer people than other nations on this list, specific industries have put them on track to become highly successful economies. This potential proves that any country can strive towards significant financial gain through dedication to their citizens and self-investment as long as they stay steady towards consistent improvement.

Understanding Different Metrics of Prosperity

While Gross Domestic Product (GDP) often emerges as a prominent choice in assessing a country’s fortunes – for instance, the United States’ GDP topped $21 trillion in 2020 – it is the GDP per Capita Purchasing Power Parity (PPP), international dollars, that offers a more nuanced perspective. The term ‘per capita’ represents an average per person. To illustrate, if Country A has a GDP of $1 trillion and a population of 10 million, one might believe that each citizen has an average ‘share’ of $100,000. However, this is an oversimplified view, as GDP doesn’t necessarily indicate how prosperity is distributed among the population, nor does it reflect how much of those resources are reinvested in public services. For instance, another hypothetical country with a GDP of $30 trillion might appear to be the richest, but if the population is as impossibly large as 7 billion, each person has a per capita share of barely $4,000. If the wealth is unequally divided, that amount is even lower. Below are definitions of key terminology:

Purchasing Power Parity (PPP) serves as a significant economic indicator by quantifying the relative buying power of different countries’ currencies. It makes this assessment by comparing the costs of the same basket of goods and services across different nations. For instance, if a burger costs $5 in the United States but €4 in France, PPP enables a realistic comparison of these currencies’ relative strength.

Gross Domestic Product (GDP) provides a measure of a country’s economic activity within a specified period, typically a year. It accounts for the monetary value of all final goods and services produced and sold domestically. For example, the annual income from all car sales, retail purchases, and service fees within a country contributes to its GDP.

Gross National Income (GNI) calculates the country’s total income. This calculation includes not just domestic production but also income earned by its residents from international activities. Hence, if a country’s businesses earn significant revenue overseas, GNI per capita would more accurately represent the country’s economic health.

International dollars, often used when discussing GDP per capita (PPP), is a hypothetical currency that has the same purchasing power as the U.S. dollar has in the United States. Essentially, it is a way to compare the purchasing power of different countries’ citizens as if they were buying goods and services in the U.S., helping us understand how far their money would go in a standardized, international context.

However, these indicators have limitations. GDP, besides unequal distribution and function, can be artificially inflated in tax havens, leading to a misrepresentation of the country’s actual finances. GNI might not fully account for income inequality within a country. Consequently, GDP per capita (PPP) becomes a preferred measure as it adjusts GDP for the relative cost of local goods, services, and inflation rates. This adjustment provides a more equitable comparison of living standards between countries, accounting for local price levels and global economic dynamics.

Note: Up-to-date and available information is crucial to maintain these comparisons, and Liechtenstein is a worthy example. This country’s GNI per capita in 2009 was $116,600 (US$), and the United Nations estimates their current GDP per capita at $169,260. If Liechtenstein provided accurate and current figures, it would likely be one of the richest countries in the world.

Richest Countries by Continent

The 50 Richest Countries In The World























































Rank Country GDP per Capita PPP
1 Luxembourg 143,303.60
2 Ireland 137,638.16
3 Singapore 133,107.62
4 Qatar 114,210.45
** Macao SAR 98,157.45
5 Switzerland 89,537.32
6 United Arab Emirates 88,961.77
7 San Marino 84,135.42
8 Norway 82,236.12
9 United States 80,412.41
10 Denmark 74,957.66
11 Netherlands 73,316.85
** Hong Kong SAR 72,860.76
12 Brunei Darussalam 72,609.57
** Taiwan Province of China 72,485.43
13 Iceland 69,833.11
14 Austria 69,069.00
15 Saudi Arabia 68,452.85
16 Andorra 68,232.15
17 Sweden 66,209.34
18 Germany 66,037.76
19 Belgium 65,813.45
20 Australia 64,673.83
21 Malta 63,481.05
22 Guyana 61,098.78
23 Bahrain 60,715.02
24 Finland 59,869.12
25 Canada 59,813.41
26 France 58,765.13
27 United Kingdom 56,835.72
28 Korea 56,708.95
29 Israel 54,771.43
30 Italy 54,258.99
31 Cyprus 53,931.29
32 New Zealand 53,809.19
33 Japan 52,119.56
34 Kuwait 51,764.83
35 Slovenia 51,406.56
36 Aruba 51,352.31
37 Spain 50,471.69
38 Lithuania 49,244.69
39 Czech Republic 49,025.44
40 Poland 45,538.13
41 Estonia 45,235.53
42 Portugal 45,226.98
43 The Bahamas 44,949.52
44 Hungary 43,601.43
45 Croatia 42,873.04
46 Panama 42,738.20
47 Slovak Republic 42,228.01
48 Turkey 41,887.53
49 Seychelles 41,828.75
50 Puerto Rico 41,682.18

**: Macao and Hong Kong are special adminstrative regions of the People’s Republic of China, and Taiwan is a province in the PRC.

Data taken from World Economic Outlook (October 2023) – GDP per capita, current prices (imf.org) in October, 2023.

Top 10 Richest Countries Ranked By GDP












Rank Country 2023 GDP in USD
1 United States $26.95 trillion
2 China $17.70 trillion
3 Germany $4.43 trillion
4 Japan $4.23 trillion
5 India $3.73 trillion
6 United Kingdom $3.33 trillion
7 France $3.05 trillion
8 Italy $2.19 trillion
9 Brazil $2.13 trillion
10 Canada $2.12 trillion

Top 10 Richest Countries Ranked by GNI












Rank Country GNI Per Capita (US$)
1  Switzerland 90,600
2  Luxembourg 88,190
3  Norway 83,880
4  Ireland 76,110
5  United States 70,930
6  Denmark 68,300
7  Singapore 64,010
8  Iceland 63,460
9  Sweden 62,990
10  Qatar 62,310


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