Here Are The Top 10 Richest Countries In The World 2021

By Getrude Mathayo / Published August 31, 2021 | 7:18 am

KEY POINTS

The European country of Luxembourg has been classified and defined as the wealthiest country in the world. The findings are based on the gross domestic product values of the countries.

We all heard this saying that money can’t buy happiness. But the fact is having possession of a good amount of money can indeed give you a sense of happiness.

Having less money can results in numerous negative feelings because everything in the world costs money that is why a lot of us want to live in a country that is rich and gives more earning opportunities.

People are quick to retort with the notion that you cannot buy experiences or memories, but the truth of the matter is that you need to have a source of finances in order to go anywhere and experience new cultures, places, or any other travel-related endeavor whatsoever.

You can create memories doing things that don’t require money. Still, the options are painfully limited, and you can only make the same memory of hanging out in your backyard before it becomes dull and not worth storing in your long-term memory.

The ranking of the richest countries in the world are usually based on the country’s gross domestic products. This is because GDP is the value of all final goods and services produced in a country during one year.

Luxembourg

The European country of Luxembourg has been classified and defined as the wealthiest country in the world. The findings are based on the gross domestic product values of the countries. You can visit Luxembourg for its castles and beautiful countryside, its cultural festivals or gastronomic specialties

Norway

This is also one of the richest countries in Europe. Its economy is fueled by oil and it is the largest oil-producing nation in Western Europe.

The GDP of Norway ranks as the second-largest in the world. Back in 2017, Norway’s GDP registered as 74,571 USD. In 2019, the country experienced a high jump to a GDP value of 86,362 USD.

Switzerland

This is another European country that is amazingly rich. It is one of those countries that are known for its invention. The GDP of Switzerland is currently 83,833 USD. This is much higher than the GDP of Switzerland in 2017, which was registered as being 80,069 USD.

Ireland

The economy of Ireland is one of the fastest-growing economies in Europe. A nation of fewer than 5 million inhabitants, Ireland was one of the hardest hits by the 2008 financial crisis.

The GDP of Ireland is 81,477 USD. Compared to the country’s GDP in 2017, the current Irish GDP is nearly 11,000 USD greater than it was. For reference, Ireland’s GDP in 2017 was 70,220 USD.

Iceland

This is a Nordic Island nation utterly famous for its grammatic landscape with volcanoes, geysers, hot springs,s and lave fields. It is a mixed economy with a high level of free trade and government intervention.

The European country of Iceland has a current GDP of 78,181 USD. Two years prior, the GDP was 73,529 USD.

The United States of America

The United States of America, USA, is among the richest countries in the world. The USA is a home to many tech giants around the world and it attracts huge investments for billionaires around the world.

Between March 2020 and April 2021, according to the Institute for Policy Studies, the collective wealth of American’s 719 billionaires leaped by $1.62 trillion, or 55%, from $2.95 trillion to $4.56 trillion

Denmark

This country enjoys a modern and international competitive services-based economy. Their GDP per capita is around US $ 67,218. It is one of the rare economies that is least affected by the Covid-19 pandemic.

Singapore

When Singapore got its independence in 1965, it was nowhere near the prosperity it has today. Half of its population was illiterate with no natural resources. With sheer hard work and smart policy, the country has come a long way. Its GDP per capita is $62,69

Australia

Australia is a service-based economy that is growing quite smoothly over the past few years. Due to its smaller population and abundance of natural resources, this country enjoys a great standard of living.

Qatar

The oil, gas, and petrochemical reserves of Qatar are huge. At the same time, their population is very small. This country is among the richest country for the last 20 years. The per-capita GDP of a Qatari citizen was over $143,222 in 2014, it was “just” $97,846 a year later, and nowadays it is even lower than that.