Top 10 Richest Countries in the World

The world economy or global economy is the economy of all humans of the world, referring to the global economic system that includes all economic activity within nations and between nations, including production, consumption, economic management, exchange of financial values and trade of goods and services.

The size of a nation's overall economy is typically measured by its gross domestic product, or GDP, which is the value of all final goods and services produced within a country in a given year.

Slower rate of economic growth results in slower increase in living standards, less tax revenue, increased government borrowing, unemployment, lower inflation rates and much more.

By looking at the GDP per capita, or gross domestic product per capita, of each country around the globe, it is possible to rank countries based on wealth.

GDP can be calculated by adding up all of the money spent by consumers, businesses, and government in a given period.

The mentioned method of calculating the GDP, helped us to bring you this list of ‘Top 10 Richest Countries in the World.’

This Gulf country which is also a marvel of ultramodern architecture, luxury shopping malls and fine cuisine has managed to top the list of world's richest nations for 20 years.

#1. Qatar

With a population just over 600,000, approx and more than 40 casinos spread over a territory of about 30 sq km, this narrow peninsula is known as the Asia's gambling capital and secures 2nd position in this list.

#2. Macao

It is the wealthiest country in the EU. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy.

#3. Luxembourg

The Singapore economy is mainly driven by exports in electronics manufacturing and machinery, financial services, tourism, and the world's busiest cargo seaport.

#4. Singapore

This small Southeast Asian Country is the fifth richest nation in the world. The oil and gas industry contribute to more than 95% of Brunei's exports.

#5. Brunei

Ireland is ranked as one of the wealthiest countries in the OECD. The low corporate tax rate influenced many American companies to move here which in turn resulted in the fastest GDP growth rate.

#6. Ireland

Norway is fueled by oil, petroleum and gas exports which not only makes it extremely efficient and stable, but also helps it to be one of the richest countries for many more years to come.

#7. Norway

The United Arab Emirates stands as one of the richest countries in the world, with an economy pushed by the oil market, according to the IMF. It is sometimes called the "Gulf Tiger."

#8. United Arab Emirates

Kuwait is a country full of wealth created from the small petroleum-based economy as well as a leading position in the financial service for GCC (Gulf Cooperation Council) countries.

#9. Kuwait

Switzerland has an an ability to take raw products and turn them into something incredibly valuable, be that luxury chocolates, a beautiful diamond bracelet or a complicated new drug. This makes it one of the richest countries in the world.

#10. Switzerland

It is rightly said “Money cannot buy happiness,” but...

Everything in the world costs money, and there really is no exception to such a bold claim.