Richest Countries in the World: Have you ever wondered why alcohol is very expensive in some parts of the world while others are very cheap? One of the main reasons for this situation is the exchange rate of wealthy countries and the average ones. Four countries in the world have recorded a wealth of at least one hundred billion dollars include;
- Qatar has $138.9k
- Macao has $113.4k
- Luxembourg has $112k
- Singapore has $105.7k
It has been contemplated and confirmed that the wealthiest countries have a very small population. You will notice continents like Asia, China, India, and Japan, even with high development rates, are not in the top ten Richest Countries in the World. It is very striking that even the United States of America, even with its superpower, is average in wealth. The USA stands at the billion $67.4k and has remained here for a while now.
Africa is at the base of the list with only two rich countries; Seychelles at $33.1k and Mauritius at $26.5k.
We got our data from the World Bank report, 2020. They calculate the net income for a certain period and divide it by the population. These statistics are vital because, for countries like China and India with a fast-growing economy, it would be possible to have a more significant percentage of people living in poverty. Moreover, the statistics are vital because they set a bar for the exchange rates, among other essential objectives.
The colours of our flags say a lot about the power of each country.
Top ten richest countries in the world and their net income for the year, 2020
- Qatar: $138.9K
- Macao: $113.4K
- Luxembourg: $112K
- Singapore: $105.7K
- Ireland: $87K
- Brunei Darussalam: $85K
- Norway: $79.6K
- UAE: $70.4K
- Kuwait: $67.9K
- Switzerland: $67.6K
Countries that have high net income increase their purchasing and bargaining power in the global market. These countries also control the leading resources of energy and precious metals. Qatar, the richest country, has the most notable oil refineries. Macao on the list is a small country where rich men of Asiago play gambling games.
The United States of America is the most affluent country globally but compared to the net income per head; it doesn’t make it to the top ten rich countries. The USA comes up around the 12th position with a net income of $37.4k after Switzerland with $67.6k and Kuwait at $67.9k. For the record, the USA is richer than Canada at $52.1k, and the rest of the world not mentioned here falls below $50k.
Our final findings reveal that Africa is the poorest country compared to other parts of the world. The statistics show that the quality of life is very poor, and the mortality rate is generally high. None of the African states has a net income of $50k, but Seychelles and Mauritius are nearing the three-quarter of the pie. Most African states have a net income of below $10k, which is considered the lowest when rating their economic prowess globally.