Top 100 Richest Countries In The World 2020

The top 10 countries in the world are the wealthiest not because they have huge amounts of resources either now being exploited or in reserve, no, any country, no matter how poorly managed, can have vast deposits of natural resources, or vast amounts of money deposited in banks.

Therefore, it is widely agreed that the wealthiest countries are those that have the highest number of their citizens well taken care of, able to afford the fine things of life, and enjoying a high quality of life. Therefore, when we say we want to highlight the richest countries in the world what we mean is that we are looking for countries with the least amounts of poverty, unemployment, and despair.

Without further time-wasting let us now get straight to it: we give you the top 10 richest countries in the world.

TOP 10 RICHEST COUNTRIES IN THE WORLD 2020

 Rank  Richest Countries  Continent  GDP Per Capita (PPP)
 1.  Qatar  Asia  138,910
 -.  Macau  Asia  113,352
 2.  Luxembourg  Europe  106,705
 3.  Singapore  Asia  105,689
 4.  Ireland  Europe  86,988
 5.  Brunei  Asia  85,011
 6.  Norway  Europe  79,638
 7.  United Arab Emirates  Asia  70,441
 8.  Kuwait  Asia  67,891
 9.  Switzerland  Europe  67,558
 –  Hong Kong  Asia  64,216
 10.  United States  North America  62,606
 11.  San Marino  Europe  60,313
 12.  Netherlands  Europe  56,383
 13.  Saudi Arabia  Asia  55,944
 14.  Iceland  Asia  55,917
 15.  Sweden  Europe  52,984
 16.  Germany  Europe  52,559
 17.  Australia  Australia  52,373
 18.  Austria  Europe  52,137
 19.  Denmark  Europe  52,121
 20.  Bahrain  Europe  50,027
 21.  Canada  North America  49,651
 22.  Belgium  Europe  48,345
 23.  Oman  Asia  46,584
 24.  Finland  Europe  46,430
 25.  France  Europe  45,775
 26.  United Kingdom  Europe  45,705
 27.  Malta  Europe  45,606
 28.  Japan  Asia  44,227
 29.  South Korea  Asia  41,351
 30.  Spain  Europe  40,139
 31.  New Zealand  Oceania  40,135
 32.  Cyprus  Europe  39,973
 –  Puerto Rico  North America  39,737
 33.  Italy  Europe  39,637
 34.  Israel  Asia  37,972
 35.  Czech Republic  Europe  37,371
 36.  Slovenia  Europe  36,746
 37.  Slovakia  Europe  35,130
 38.  Lithuania  Europe  34,826
 39.  Estonia  Europe  34,096
 40.  The Bahamas  North America  33,494
 41.  Trinidad and Tobago  North America  32,254
 42.  Portugal  Europe  32,006
 43.  Poland  Europe  31,939
 44.  Hungary  Europe  31,903
 45.  Malaysia  Europe  30,860
 46.  Seychelles  Africa  30,505
 47.  Latvia  Europe  29,901
 48.  Saint Kitts and Nevis  North America  29,820
 49.  Russia  Asia  29,267
 50.  Greece  Europe  29,123
 51.  Antigua and Barbuda  North America  27,981
 52.  Turkey  Europe  27,956
 53.  Kazakhstan  Europe/Asia  27,550
 54.  Romania  Europe  26,447
 55.  Croatia  Europe  26,221
 56.  Chile  Europe  25,978
 57.  Panama  North America  25,674
 58.  Mauritius  Africa  23,699
 59.  Uruguay  South America  23,274
 60.  Bulgaria  Europe  23,156
 61.  Equatorial Guinea  Africa  22,710
 62.  Maldives  Asia  21,760
 63.  Mexico  North America  20,602
 64.  Argentina  South America  20,537
 65.  Belarus  Europe  20,003
 66.  Iran  Asia  19,557
 67.  Turkmenistan  Asia  19,527
 68.  Thailand  Asia  19,476
 69.  Montenegro  Europe  19,043
 70.  Barbados  North America  18,534
 71.  Gabon  Africa  18,496
 72.  Dominican Republic  North America  18,424
 73.  China  Asia  18,110
 74.  Azerbaijan  Asia  18,076
 75.  Botswana  Africa  17,965
 76.  Iraq  Asia  17,659
 77.  Costa Rica  Europe  17,559
 78.  Serbia  Europe  17,559
 79.  Grenada  North America  16,167
 80.  Brazil  South America  16,154
 81.  North Macedonia  Europe  15,709
 82.  Algeria  Africa  15,440
 83.  Suriname  South America  15,105
 84.  Palau  Oceania  14,952
 85.  Colombia  South America  14,943
 86.  Lebanon  Asia  14,684
 87.  Saint Lucia  North America  14,355
 88.  Peru  South America  14,224
 89.  South Africa  Africa  13,675
 90.  Bosnia And Herzegovina  Europe  13,491
 91.  Mongolia  Asia  13,447
 92.  Sri Lanka  Asia  13,397
 93.  Paraguay  Europe  13,395
 94.  Egypt  Africa  13,366
 95.  Albania  Europe  13,345
 96.  Indonesia  Asia  13,230
 97.  Tunisia  Africa  12,372
 98.  Nauru  Oceania  12,326
 99.  Saint Vincent And The Grenadines  North America  11,956
 100.  Ecuador  South America  11,718

Details on the top 10 wealthiest countries in the world.

  • 1. Qatar – 138,910

Qatar is a country located in Western Asia. Geographically, it is located on the northeastern coast of the Arabian Peninsula. Qatar is almost entirely surrounded by the Persian Gulf, the only land border it has is with the kingdom of Saudi Arabia. 

The largest portion of Qatar’s economic returns comes from natural resources such as gas and petroleum. Meanwhile, these resources make up over 70% of the entire revenue generated by the Qatari government. With petroleum and gas regarded as the mainstay of its economic returns, Qatar’s GDP per capita (PPP) is currently valued at $138,910, making Qatar the richest country in the world.

  • Macau – 113,352

Macau is not considered a sovereign state. Officially it is called the Macao Special Administrative Region of the People’s Republic of China. Geographically it is located in the western Pearl River Delta.

 Macau is a capitalist economy boosted by the service industry.  Casino gaming and tourism are the two biggest industries. The casino industry is seven times larger than that of Las Vegas.

  • 2. Luxembourg – 112,045

Luxembourg, a European country, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France to the south. It can be said that Luxembourg is strategically located between Germany and France. Its capital, Luxembourg City, is one of the four official capitals of the European Union

Luxembourg has a stable and well-balanced economy. Most of the population are high earners, and so there is high patronage of the services industry including hospitality, education, and retail commerce. The country ranks 4th in the Economist Intelligence Unit’s quality of life index. 

The industrial sector is spearheaded by steel and has now become diversified to include chemicals, rubber, and other products. Luxembourg has recently become a good destination for international banking, including trust funds and such. Luxembourg is number 2 in the world for this.

  • 3. Singapore – 105,689

The Republic of Singapore is a sovereign island country in Southeast Asia. It lies to the southern tip of the Malay Peninsula and has the South China Sea to the east. Singapore is characterized by diverse cultures as well as tropical atmospheric conditions. In reality, Singapore is one of the global countries which attracts foreigners for financial purposes.

Singapore has a highly developed and balanced market economy. It is one of the Four Asian Tigers (others are Hong Kong, South Korea, and Taiwan) but Singapore has exceeded the others in terms of GDP, and depth of their economy. The people of Singapore enjoy one of the highest living standards in the world. 

In the aspect of the economy, Singapore maintains a socialist economy with a level-headed and organized trade system. Across the world, Singapore’s socialist economy is regarded as the most open economic system with zero tolerance for corruption and a low level of taxation. Likewise in the world, Singapore is considered the third-largest economy –precisely in terms of per-capita GDP. As it stands, Singapore maintains its steady economic standards with the GDP per capita (PPP) of $105,689.

  • 4. Ireland – $86,988

Also regarded as the Republic of Ireland, an island in the North Atlantic, this country largely covers the major part of the island of Ireland and away from the coastal region of Wales and England. Ireland is the third-largest in Europe and the twentieth-largest on Earth. Ireland is the home of several great places with Dublin being the capital city as well as the place into which Oscar Wilde –a globally-acclaimed writer –was born.

The Irish economy is boosted by Tourism, there are several tourist destinations that draw in millions of people. Three of them are World Heritage Sites: the Brú na Bóinne, Skellig Michael, and the Giant’s Causeway. Many film producers flock to Ireland which is great for making epic battle films. 

Ireland maintains a modernized economic system with a concentration on investment, industry, trade, and top technology-oriented industries. Within a period of 12 years (1995-2007), Ireland recorded its highest level of economic growth. Meanwhile, this gave the country a significant edge over other European economies and resulted in the interesting name –Celtic Tiger –it was dubbed. At the moment, Ireland’s GDP per capita (PPP) swirls around $86,988 making them the fourth richest countries in the world.

Ireland has produced peat from ancient times. Locally its called a tuft. This is a traditional source of energy for heating. However, it must be stated that there is a great environmental impact that comes with digging up peat.

  • 5. Brunei – $85,011 

Brunei is a kingdom in Asia. Officially, it called the Nation of Brunei, the Abode of Peace. Brunei has as neighbors Borneo in Southeast. Brunei meets the South China Sea, but much of the country is surrounded by Malaysia. 

Brunei’s economy is one of the most developed in Southeast Asia. Brunei has a small, wealthy economy that is boosted by petroleum. But there is a mixture of foreign and domestic investments. The government also intervenes through regulation, welfare measures, and village tradition. 

  • 6. Norway – 79,638

Norway is a Nordic country in Northern Europe. It is one of the Scandinavian countries. Norway is a beautiful and free country where the people live a very high standard of living. The country is surrounded by natural features such as coastal fjords, glaciers, and high mountains.

Oslo –being Norway’s major city –conserved Viking ships of the ninth century. Likewise, the city is considered the home of beautiful museums and a vast number of green pastures. Besides the capital city (Oslo), Bergen is another prominent Norwegian city and it is widely cherished for its sphere of activities such as skiing, hiking, and fishing. Likewise, it serves as the starting point for voyages.

As one of the world’s highly-developed countries which practice mixed economic systems, some planned aspects of the Norwegian economy are owned and controlled by the government. On a remarkable note, Norway’s economy has constantly maintained a substantial growth rate beginning from the inception of industrialization. Currently, Norway marks one of the world’s leading economies and among the wealthiest countries in the world with a robust sum of $79,638 as its GDP per capita (PPP).

The Norwegian economy is an example of a mixed economy. Capitalism is encouraged; citizens are encouraged to venture into entrepreneurship, but the country remains a welfare state, where the government takes care of the citizen’s essential needs. The state owns most establishments in certain key sectors.  Public health care in Norway is free, and after childbirth parents are given 46 weeks paid leave. This is one of the most people conscious societies in the world.

  • 7. The United Arab Emirates – $70,441

The United Arab Emirates is a country in Western Asia. Geographically it is located at the northeast end of the Arabian Peninsula on the Persian Gulf. The UAE shares borders with Oman to the east and Saudi Arabia to the south and west. It shares maritime borders with Qatar to the west and Iran to the north.

UAE is actually a federation of seven emirates consisting of Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain.

  • 8. Kuwait – 67,891 

Kuwait is a country in Western Asia. Just like UAE above, it is located in the east of the Arabian peninsula, although more to the north. It shares borders with Iraq to the north and Saudi Arabia to the south. 

The economy of Kuwait is based on petroleum. This is because petroleum is the main export product. This would ordinarily put the country at risk of shocks that can come with fluctuations in the price of oil, but the country seems to balance this because the Kuwaiti dinar is the highest-valued unit of currency in the world.

  • 9. Switzerland

Switzerland is situated in the central region of Europe and its land is rich in mountains. Likewise, the country houses a range of high mountains (well known as The Alps) together with many lakes and rural areas. It also has urban areas among which are ancient residential quarters characterized by landmarks. Examples of these are the wooden chapel bridge in Lucerne and the Zytglogge clock tower in Capital Bern.

Switzerland is one of the most successful global countries and its enormous GDP level can be attributed to its two major industries –financial and banking sectors. Across the world, Switzerland is greatly admired for some of its lovely products such as chocolate and watches.

For years, the Swiss economy has maintained impressive stability and this makes Switzerland one of the best global economies. Numerous foreign investors have found Switzerland as the best avenue for them to expand their investment dealings and this obviously results from the system of political stability practiced (alongside long-term monetary security) by the Swiss government.

In Switzerland, trade and industry are considered the vital reasons behind economic sustenance. Meanwhile, this is due to an intense concentration on the labour sector and the country’s small landmass.

  • 10. United States

The United States of America is arguably the world’s most powerful nation. It is one of the most populous global countries and under its control is a significant number of 50 states. As a populous country with an enormous landmass, the United States accounts for a substantial portion of the North American continent. With Washington DC regarded as its capital state, America has other prominent states such as Hawaii (which meanders very close to the Pacific Ocean) and Alaska which is located in the country’s North West.

Another prominent American state is New York –a global hub for financial and cultural activities. Meanwhile, New York is also considered the chief Atlantic Coast City of the United States of America.

In the Mid Western region of the United States is Chicago –a metropolitan centre greatly admired for its impressive architecture that inspires global interest. In the aspect of the nominal national economy, the United States of America is the world’s leading country but as regards PPP (Purchasing Power Parity) in the world, the US claims the second spot.

In addition, the United States of America perfectly fits into the category of global largest trade centres and this achievement results from the fact that it has an enormous productivity level coupled with sophisticated infrastructure and substantial natural endowments. At the moment, the United States of America boasts of a GDP per capita (PPP) valued at $62,606.

  • 14. Iceland

Iceland is best known for its interesting natural features such as lava fields, volcanoes, hot springs, and geysers. In Iceland, the economic system is practiced in a small magnitude and as largely observed, it is vulnerable to a high incidence of changes. Meanwhile, the country maintains a mixed economic system that gives room for state intervention and increased levels of free trade. Currently, Iceland’s GDP per capita (PPP) is estimated at $55.917.

  • 17. Australia

Besides being called a country, Australia is one of the seven global continents. Its territory is flanked by the duo of Pacific and Indian oceans while Canberra inland is well known as the national capital. Besides Canberra inland, Australia is beautified with prominent areas like Adelaide, Perth, Melbourne, Brisbane, and Sydney. But above all this, the actual features which earn Australia its global recognition are its rare animal species (such as kangaroos), a large desert known as Outback, the Great Barrier Reef, and the Opera House (based in Sydney).

Across the globe, Australia is one of the countries with the biggest mixed market economic systems. At the same time, the Australian economy is largely focused on the service sector and this sector accounts for 68% of the country’s overall GDP. As it stands, Australia’s GDP per capita (PPP) is estimated at $52,373.

  • 19. Denmark

Like Norway, Denmark is another country of Scandinavian descent. As part of its natural features, Denmark houses lots of islands and the well-known Jutland Peninsula. Also, the country comprises the Oresund bridge which draws its territory a little close to neigbouring Sweden.

Denmark is the home of various tourist attractions the best part of which may be found in the capital city –Copenhagen. In Copenhagen, tourists visit attractive centres like a significant statue (portraying the “Little Mermaid’’), the beautiful amusement park in Tivoli, and the charming Nyhavn harbor.

Denmark maintains a varied and mixed economic system through which the country majorly depends on human potentials. Although the mainstay of Denmark’s economic sustenance is heavily founded on human potentials, the country has some considerable amount of prestigious natural resources among which are the highly-developed gas and oil wells around the North Sea.

Through its market economy, Denmark has attained tremendous standards which can be largely observed from the country’s wide-ranging strategies for public welfare, its corporate industry, modernized small-scale enterprises, highly-mechanized farming, high reliance on international trade and sustainable standards of living. At the moment, Denmark’s GDP per capita (PPP) $52,121.

That’s all on the Top 10 Richest Countries in The World 2020, share your thoughts and suggestions with us through the comment box.

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