The world is comprised of 195 recognized nations, some of which have major global economies that contribute to higher salaries, while others don’t fare as well. But some nations are so wealthy, that factors that have affected other countries, have barely touched theirs. To measure the wealth of a nation, you can start by looking at its gross domestic product (GDP), which assesses a country’s economic size by quantifying the total value of goods and services produced within its borders. Another is by assessing its unemployment rate.
There is yet another metric used that sheds light on economic prosperity and living standards for each citizen, the gross national income (GNI). This measures the total income of all residents and businesses, whether earned domestically or abroad, in a given time; when divided by a nation’s population, it yields GNI per capita. GNI offers a more comprehensive reflection of a nation’s economic performance in relation to population size.
Countries boasting the highest GNI per capita generally experience extended life expectancies and exhibit governments with comparably lower corruption rates compared to less affluent nations. Despite having the largest economy in the world, the United States ranks 11th on the list with a GNI per capita of $70,480. (See if the wealthiest countries also rank among the happiest countries in the world.)
24/7 Wall St. reviewed data on GNI per capita for each country and special regions from the World Bank to determine the wealthiest nations in the world. The World Bank estimates GNI per capita using the purchasing power parity method. Figures are in current international dollars. The nations on this list have a GNI per capita of over $56,000. Because GNI per capita considers both total income and population size, not just countries with the largest economies are on this list, but also small nations that have both smaller economies and smaller populations.
While China has the world’s second-largest economy by GDP, it is not on the list as its population is the world’s largest. China’s GNI per capita is $19,160, ranking 79th. Conversely, a small country like Iceland makes the list. Although it has a relatively small economy by GDP (only the 110th largest), it has just about 370,000 residents, making for a relatively high GNI per capita of $56,250. (Iceland also has no military. See the countries without a military and who defends them.)
Here are the wealthiest nations in the world.
20. Finland
- GNI per capita, 2021: $56,150
- GDP, 2021: $297.30 billion (#46 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 81.9 years (#20 highest of 210 countries)
- Corruption perception index, 2022: 87 (#2 highest of 180 countries)
- Population, 2021: 5,541,017
Located in Northern Europe, Finland has a highly advanced technology sector, particularly in telecommunications and electronics. The Nordic country also excels in forestry, paper manufacturing, and renewable energy. Finland ranks as being the second least corrupt country in the world, while life expectancy at birth is the 20th highest at 81.9 years.
19. Iceland
- GNI per capita, 2021: $56,250
- GDP, 2021: $25.60 billion (#110 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 83.1 years (#11 highest of 210 countries)
- Corruption perception index, 2022: 74 (#14 highest of 180 countries)
- Population, 2021: 372,520
Situated in the North Atlantic Ocean, Iceland’s economy is only ranked 110th largest by GDP but its population is among the smallest, resulting in a relatively high GNI per capita. Iceland’s economy is driven by renewable energy, tourism, and fishing. Its unique geography allows it to harness geothermal and hydroelectric power sources. Iceland has the 11th highest life expectancy at 83.1 years.
18. Austria
- GNI per capita, 2021: $59,490
- GDP, 2021: $480.37 billion (#30 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 81.2 years (#24 highest of 210 countries)
- Corruption perception index, 2022: 71 (#22 highest of 180 countries)
- Population, 2021: 8,955,797
Nestled in the heart of Europe, Austria is celebrated for its breathtaking Alpine landscapes. It has a strong tourism industry, along with sectors such as machinery manufacturing, renewable energy, and high-tech. With a population of under 9 million and the 30th largest economy, Austria is one of the wealthiest in the world.
17. Belgium
- GNI per capita, 2021: $59,920
- GDP, 2021: $594.10 billion (#23 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 81.9 years (#21 highest of 210 countries)
- Corruption perception index, 2022: 73 (#18 highest of 180 countries)
- Population, 2021: 11,592,952
Located in Western Europe, Belgium is known for its historic cities and world-famous chocolates. Belgium has a relatively diversified economy, with leading industries including manufacturing, pharmaceuticals, chemicals, and services. It benefits from its strategic location in Europe.
16. Germany
- GNI per capita, 2021: $60,050
- GDP, 2021: $4,259.93 billion (#4 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 80.9 years (#27 highest of 210 countries)
- Corruption perception index, 2022: 79 (#9 highest of 180 countries)
- Population, 2021: 83,196,078
Situated in Central Europe, Germany has the world’s fourth-largest economy by GDP. It is a powerhouse in manufacturing, known for its automobiles, machinery, and chemical products. Germany is also a major exporter and a key player in the European Union. It is also considered the ninth least corrupt country.
15. Sweden
- GNI per capita, 2021: $61,000
- GDP, 2021: $635.66 billion (#22 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 83.2 years (#10 highest of 210 countries)
- Corruption perception index, 2022: 83 (#5 highest of 180 countries)
- Population, 2021: 10,415,811
Located in Northern Europe, Sweden’s economy is diversified, with key industries including manufacturing, telecommunications, pharmaceuticals, and automotive. The export-oriented Scandinavian nation is considered the fifth least corrupt and has the 10th highest life expectancy at 83.2 years.
14. Netherlands
- GNI per capita, 2021: $63,360
- GDP, 2021: $1,012.85 billion (#17 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 81.5 years (#22 highest of 210 countries)
- Corruption perception index, 2022: 80 (#8 highest of 180 countries)
- Population, 2021: 17,533,044
The Netherlands’ economy is the 17th largest in the world by GDP. While the highly developed economy is a leader in the global flower market, other leading industries include food processing, chemicals, high-tech, and financial services. The Netherlands also boasts a strong maritime and logistics sector, with Rotterdam being the biggest port in Europe.
13. Brunei Darussalam
- GNI per capita, 2021: $66,480
- GDP, 2021: $14.01 billion (#135 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 74.6 years (#63 highest of 210 countries)
- Corruption perception index, 2022: N/A
- Population, 2021: 445,373
Situated on the northern coast of Borneo Island, Brunei Darussalam’s economy heavily relies on oil and gas production, with petroleum exports being its primary source of revenue. Brunei has the smallest economy on this list by GDP, but also one of the smallest populations. Unlike many other countries on this list, Brunei has a relatively low life expectancy at birth, at 74.6 years.
12. Denmark
- GNI per capita, 2021: $66,760
- GDP, 2021: $398.30 billion (#36 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 81.4 years (#23 highest of 210 countries)
- Corruption perception index, 2022: 90 (#1 highest of 180 countries)
- Population, 2021: 5,856,733
Located in Northern Europe, Denmark has a strong and advanced economy, with key sectors including renewable energy, pharmaceuticals, and manufacturing. The Scandinavian nation is known for its progressive social policies. It ranks as the world’s least corrupt country, according to Transparency International.
11. United States
- GNI per capita, 2021: $70,480
- GDP, 2021: $23,315.08 billion (#1 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 76.3 years (#52 highest of 210 countries)
- Corruption perception index, 2022: 69 (#24 highest of 180 countries)
- Population, 2021: 331,893,745
Stretching across North America, the United States has the world’s largest economy, driven by diverse industries such as technology, finance, manufacturing, and entertainment. It is a global leader in innovation. Relative to other wealthy countries, the U.S. has one of the lower life expectancies, at 76.3 years.
10. Hong Kong SAR, China
- GNI per capita, 2021: $70,600
- GDP, 2021: $369.18 billion (#40 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 85.5 years (#1 highest of 210 countries)
- Corruption perception index, 2022: 76 (#12 highest of 180 countries)
- Population, 2021: 7,413,100
Situated on the southern coast of China, Hong Kong is a major global financial hub and a bustling metropolis. Its economy is driven by finance, trade, and professional services. The country has the highest life expectancy in the world at 85.5 years.
9. United Arab Emirates
- GNI per capita, 2020: $71,280
- GDP, 2021: $415.02 billion (#34 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 78.7 years (#38 highest of 210 countries)
- Corruption perception index, 2022: 67 (#27 highest of 180 countries)
- Population, 2021: 9,365,145
Located in the Middle East, the UAE, known for its skyscrapers, has a dynamic economy, which is diversifying. The country’s leading economic industries include oil and gas, real estate, and tourism. The UAE has experienced rapid economic growth and development and though it is trying to diversify, it remains heavily reliant on oil.
8. Macao SAR, China
- GNI per capita, 2021: $72,940
- GDP, 2021: $30.12 billion (#102 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 85.4 years (#2 highest of 210 countries)
- Corruption perception index, 2022: N/A
- Population, 2021: 686,607
Known as the “Las Vegas of Asia,” Macao, which is situated on the southeastern coast of China, is a special administrative region of China. It has a vibrant entertainment and tourism industry, including world-class casinos, making it a thriving center for gambling. Macao’s economy relies heavily on tourism and gaming.
7. Switzerland
- GNI per capita, 2021: $75,680
- GDP, 2021: $800.64 billion (#20 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 83.9 years (#4 highest of 210 countries)
- Corruption perception index, 2022: 82 (#7 highest of 180 countries)
- Population, 2021: 8,703,405
Situated in the heart of the Alps, Switzerland is renowned for its banking system and high-quality watches. It has a strong economy driven by sectors such as finance, manufacturing, and pharmaceuticals. The wealthy European country also boasts the fourth highest life expectancy at 83.9 years and ranks as the seventh least corrupt country.
6. Ireland
- GNI per capita, 2021: $78,650
- GDP, 2021: $504.18 billion (#25 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 82.1 years (#19 highest of 210 countries)
- Corruption perception index, 2022: 77 (#10 highest of 180 countries)
- Population, 2021: 5,033,165
Ireland has a highly developed and diverse economy driven by industries such as pharmaceutical, technology, financial services, and agriculture. It has attracted numerous multinational companies due to its favorable tax policies. It is also considered the 10th least corrupt country, according to Transparency International.
5. Luxembourg
- GNI per capita, 2020: $84,020
- GDP, 2021: $85.51 billion (#71 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 82.7 years (#14 highest of 210 countries)
- Corruption perception index, 2022: 77 (#10 highest of 180 countries)
- Population, 2021: 640,064
Nestled in the heart of Europe, Luxembourg is known for its highly developed financial sector and is a leading hub for investment funds and private banking. The country’s economy relies on financial services, steel production, and more. Its small population of 640,064 has an average life expectancy of 82.7 years, the 14th highest.
4. Norway
- GNI per capita, 2021: $84,260
- GDP, 2021: $482.17 billion (#29 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 83.2 years (#9 highest of 210 countries)
- Corruption perception index, 2022: 84 (#4 highest of 180 countries)
- Population, 2021: 5,408,320
The Northern European country Norway is a leading exporter of oil, natural gas, and seafood products. Since the discovery of North Sea oil, the Scandinavian nation has been a large energy producer and one of the world’s largest exporters of fossil fuels. One of the wealthiest nations, it boasts the ninth highest life expectancy, at 83.2 years, and ranks as the fourth least corrupt country.
3. Bermuda
- GNI per capita, 2021: $91,950
- GDP, 2021: $07.29 billion (#160 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 79.3 years (#33 highest of 210 countries)
- Corruption perception index, 2022: N/A
- Population, 2021: 63,867
As a British Overseas Territory located in the North Atlantic Ocean, Bermuda is renowned for its stunning beaches and coral reefs. It has a thriving economy primarily focused on tourism as well as offshore financial services for international businesses. Bermuda is a global center for offshore insurance and reinsurance services.
2. Qatar
- GNI per capita, 2021: $100,450
- GDP, 2021: $179.68 billion (#57 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 79.3 years (#34 highest of 210 countries)
- Corruption perception index, 2022: 58 (#40 highest of 180 countries)
- Population, 2021: 2,688,235
Qatar, located on the Arabian Peninsula, is known for its vast reserves of natural gas. It is one of the world’s leading exporters of liquefied natural gas (LNG). Despite being a small country, Qatar has the second highest GNI per capita, driven primarily by its energy industry, making it one of the richest nations globally.
1. Singapore
- GNI per capita, 2021: $102,450
- GDP, 2021: $396.99 billion (#37 highest of 214 countries)
- Avg. life expectancy at birth, 2021: 83.4 years (#6 highest of 210 countries)
- Corruption perception index, 2022: 83 (#5 highest of 180 countries)
- Population, 2021: 5,453,566
Located in Southeast Asia, Singapore’s economy depends largely on transshipment and serves as a major global hub for trade and finance. Its leading economic industries include finance, technology, and manufacturing. The country ranks fifth least corrupt, according to Transparency International, and with a strong economy boasts a high standard of living.
Methodology:
To determine the 20 richest countries in the world, 24/7 Wall St. reviewed data on gross national income per capita for 198 countries and special regions with available data from the World Bank. The World Bank estimates GNI per capita using the purchasing power parity method, and figures are in current international dollars.
Additional data, measuring GDP in current international dollars, population, and life expectancy at birth also came from the World Bank. We also considered data on levels of public sector corruption from the nonprofit, international watchdog and anti-corruption group, Transparency International’s 2022 Corruption Perception Index.
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