- Norway 🇳🇴
Current International Dollars: 82,832
Norway’s economy has thrived on oil since the discovery of vast offshore reserves in the late 1960s. As Western Europe’s leading petroleum producer, rising oil prices fueled its prosperity—until 2020, when prices plummeted and the global pandemic sent the krone into freefall. Norwegian GDP contracted by 6.3% in Q2 of that year, marking its worst economic downturn in decades.
Yet, Norwegians did not experience a long-term decline in wealth. The economy rebounded swiftly, and the country continues to benefit from its $1.4 trillion sovereign wealth fund—the largest in the world. Unlike many other wealthy nations, Norway’s high per capita GDP accurately reflects its citizens’ economic well-being, thanks to one of the world’s lowest income inequality gaps.
- United States 🇺🇸
Current International Dollars: 85,373
The U.S. is a rare exception among the world’s richest nations—one of the largest economies globally, yet still ranking in the top 10 for wealth per capita. It first entered this elite list in 2020, propelled by pandemic-related stimulus measures that boosted income and spending. At the same time, falling energy prices pushed petroleum-dependent nations like Qatar, Norway, and the UAE down the rankings.
Since then, the U.S. has maintained its standing. The country’s 2020 recession lasted just two months—the shortest in history—and its economy remains a major driver of global growth. In 2024, the IMF even revised its U.S. growth forecast upward to 2.7%, highlighting its continued economic strength.
- San Marino 🇸🇲
Current International Dollars: 86,989
San Marino, Europe’s oldest republic and the fifth smallest country in the world, has one of the wealthiest populations globally. With just 34,000 citizens, its low income tax rates—about one-third of the EU average—help sustain its prosperity.
Despite global economic turbulence, San Marino has demonstrated resilience. The country’s tourism and manufacturing sectors have remained strong, helping it maintain a high standard of living even during challenging times.
- Switzerland 🇨🇭
Current International Dollars: 91,932
Switzerland is known for its banking sector, insurance services, and luxury exports—ranging from high-end watches to pharmaceutical products. According to Credit Suisse’s 2023 Global Wealth Report, Switzerland has the highest mean wealth per adult at $685,230, with one in six adults owning assets worth over $1 million.
However, economic challenges persist. Switzerland was heavily impacted by the war in Ukraine due to its reliance on Russian oil and gas, while the near-collapse of Credit Suisse in 2022 shook its reputation as a stable banking hub. Additionally, rising interest rates have increased investment costs and slowed economic growth. Despite these hurdles, Switzerland remains one of the world’s richest nations.
- United Arab Emirates 🇦🇪
Current International Dollars: 96,846
Once reliant on pearl trading and fishing, the UAE transformed into an economic powerhouse after discovering oil in the 1950s. Today, its cosmopolitan population enjoys significant wealth, with industries such as tourism, construction, trade, and finance diversifying the economy beyond hydrocarbons.
Although the UAE briefly dropped out of the richest countries ranking during the pandemic due to falling oil prices, it quickly rebounded as energy markets recovered. This resilience has helped it maintain its long-standing position among the world’s wealthiest nations.
- Qatar 🇶🇦
Current International Dollars: 112,283
Despite a decline in oil prices over the past decade, Qatar continues to thrive thanks to its vast oil, gas, and petrochemical reserves. With a small population of just 3 million, it remains one of the wealthiest nations globally.
Qatar has faced economic challenges, including a high COVID-19 infection rate among its large migrant workforce and disruptions in global trade due to the war in Ukraine. However, the economy remains strong, with projected growth of around 2% in 2024 and 2025.
- Singapore 🇸🇬
Current International Dollars: 133,737
Singapore has transformed from a resource-poor nation into a global financial and trade hub. The city-state attracts high-net-worth individuals with its business-friendly policies and tax incentives, making it one of the world’s most affluent places.
However, Singapore has faced economic slowdowns in recent years. The 2020 recession, China’s sluggish recovery, and weakening global trade have all impacted growth. Despite this, Singapore remains an economic powerhouse, with a highly literate population and a thriving business environment.
- Ireland 🇮🇪
Current International Dollars: 133,895
Once hit hard by the 2008-09 financial crisis, Ireland has since become one of the world’s wealthiest countries—though much of this wealth is tied to multinational corporations rather than the average citizen.
Many global giants, including Apple, Google, and Microsoft, have shifted their fiscal residences to Ireland due to its low corporate tax rate of 12.5%. In 2023, multinational companies contributed over 50% of Ireland’s total economic value. However, despite this high per capita GDP, household disposable income remains slightly below the EU average, and wealth distribution remains uneven.
- Macao SAR 🇲🇴
Current International Dollars: 134,141
Once on track to become the richest place on Earth, Macao’s gaming-driven economy suffered significantly during the pandemic. With tourism at a standstill, Macao briefly dropped out of the top 10 rankings.
However, the “Las Vegas of Asia” has since rebounded, surpassing its pre-pandemic wealth levels. Thanks to its thriving casino industry, Macao remains one of the world’s wealthiest regions.
- Luxembourg 🇱🇺
Current International Dollars: 143,743
Luxembourg consistently ranks as the world’s wealthiest country, boasting the highest standard of living in the Eurozone. With a strong financial sector and a business-friendly environment, it has long been a preferred destination for banking and investment.
Though the pandemic and economic challenges in the Eurozone slowed growth, Luxembourg remains resilient. Despite a 1% contraction in 2023, its economy is expected to recover in 2024. With per capita GDP surpassing $100,000 since 2014, Luxembourg stands at the top of the global wealth rankings.
