Here’s a look at the top 10 richest countries in the world per capita, according to data released by the International Monetary Fund (IMF) as of October 2017. (Image: Reuters)
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N0. 10 | Switzerland: USD 61,360 | Situated on the Swiss Alps, the country has a population of around 8 million people. Reports suggest that the country’s GDP per capita is set to rise significantly by 2022, as the country implements policies to help boost its economy. (Image: Reuters)
No. 9 | San Marino: USD 61,890 | Also known as the ‘Most Serene Republic’, San Marino is a mere 61 square kilometres in size and is surrounded by Italy from all sides. Tourism contributes to 22 per cent of the small microstate‘s GDP. San Marino’s population is little above 33,000. (Image: Reuters)
No. 8 | United Arab Emirates: USD 68,250 | The economy of this nation, made up of 7 Emirates, is propelled majorly by oil. However, revenue from non-oil sectors is also quickly rising. The population of the seven Emirates, put together, is just over 10 million. (Image: Reuters)
No. 7 | Kuwait: USD 69,670 | The Emirate of Kuwait has a population of just over 4 million people. The kingdom’s wealth stems from oil. The fall in global oil prices over the last few years has impacted Kuwait, but not enough to drag it out of this list. It remains one of the richest countries in the Gulf region and the world. (Image: Reuters)
No. 6 | Norway: USD 70,590 | This Scandinavian country has a population of over 5 million. It remains one of the richest countries in the world despite being hit by lower oil prices over the last few years. (Image: Reuters)
No. 5 | Ireland: USD 72,630 | This European country has one of the highest per capita incomes on the continent. It also has one of the highest GDP growth rates in the region. (Image: Reuters)
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No. 4 | Brunei: USD 76,740 | The Sultanate of Brunei Darussalam is one of the richest countries in the world courtesy its large oil reserves. The tiny country, situated adjacent to Malaysia, has a population of just over 400,000 people. (Image: Reuters)
No. 3 | Singapore: USD 90,530 | The hub of economic activities in South East Asia, Singapore is the third richest country in the world and one of the richest in Asia. The city-state has a population of around 5.6 million. (Image: Reuters)
No. 2 | Luxembourg: USD 109,190 | The small European nation with a population of around 600,000 is the world’s second richest country. Several major companies, including steel giant ArcelorMittal, are based here. The country thus has a strong workforce. (Image: Reuters)
No. 1 | Qatar: USD 124,930 | The tiny Emirate of Qatar is the richest country in the world, per capita. A large chunk of Qatar’s wealth comes from petroleum and natural gas. Having a population of approximately 2.27 million helps in achieving a very high per capita income. Qatar made it to the top spot despite lower hydrocarbon prices, which triggered a significant drop in its revenue in 2017. (Image: Reuters)
No. 122 | India: USD 7,500 | While India’s GDP per capita remains relatively low, it is one of the fastest growing major economies in the world. The country has a population of around 1.32 billion. Besides agriculture, textiles, chemicals, petroleum and steel are major industries. India ranks 122nd on the list. The US stands just outside the top-10 at number 11. (Image: Reuters)
