Top 10 Richest Countries in the World by GDP per Capita (2024 Report)

GDP per capita is a traditional indicator of economic prosperity for individuals. However, comparing nations only using this metric misses some important details. An improved estimate of living standards can be obtained by examining how much money you will have after accounting for labor productivity.

As the global economy evolves, the landscape of wealth across nations continues to shift. In 2024, several countries have distinguished themselves as the wealthiest based on Gross Domestic Product (GDP) per capita. This measure reflects the average economic output per person, offering insight into the standard of living and economic prosperity of a nation's citizens. Here's an overview of the richest countries in the world in 2024, highlighting the unique aspects of each country's economy.

Top 10 Richest Countries in the World by GDP per Capita Today

Top 10 Richest Countries in the World by GDP per Capita Today

1. Luxembourg

GDP per Capita: $143,304

Luxembourg continues to top the list with its advanced economy driven by banking, finance, and steel industries. It is a key player in the European financial sector and serves as a hub for numerous financial institutions and investment companies.

Luxembourg is among the European nations that emerged from the Covid-19 pandemic comparatively unscathed. The country is renowned for using its wealth to guarantee improved healthcare, education, and living conditions for the general public. Furthermore, because of its gorgeous canals, abundance of greenery, and idyllic castles, the nation is one of the most popular tourist destinations worldwide.

2. Ireland

GDP per Capita: $137,638

Ireland's economy has transformed into a high-tech hub, attracting major tech giants due to its favorable corporate tax rates. The country also has a strong pharmaceutical and chemical products sector.

Ireland spent much of the 2008 global financial crisis restructuring its banking sector. It started taking steps to bring its economy to this point, such as reducing wages in the public sector. In addition, Ireland is one of the biggest corporate tax havens in the world, with over 50% of the country's GDP coming from international corporations like Apple, Google, and Microsoft in recent years.

3. Singapore

GDP per Capita: $133,108

Singapore's economy is renowned for its remarkable transformation into a global hub of commerce, finance, and transport. As one of the world's most open and business-friendly economies, it excels in high-value manufacturing sectors like electronics and pharmaceuticals, alongside robust service sectors including banking, biotechnology, and logistics. Strategic government policies have fostered an environment conducive to innovation and entrepreneurship, attracting a multitude of multinational corporations.

Despite its small geographic size and lack of natural resources, Singapore's strategic location at the crossroads of major shipping routes has established it as a vital gateway to Asia. The country's commitment to high educational standards, technological innovation, and extensive trade networks continues to drive its economic success in 2024.

4. Qatar

GDP per Capita: $114,210

Qatar's economy is primarily built upon its vast reserves of oil and natural gas, which have positioned it as one of the wealthiest nations per capita in the world. The country leverages these resources to fuel its substantial investments in infrastructure, healthcare, and education, fostering a high standard of living for its residents. In recent years, Qatar has made concerted efforts to diversify its economy beyond hydrocarbons, focusing on developing sectors like finance, tourism, and real estate. The nation also plays a significant role in global energy markets, with its strategic investments in liquefied natural gas (LNG) production and exportation helping to secure its economic prosperity. Additionally, Qatar's hosting of the 2022 FIFA World Cup served as a catalyst for further economic diversification and international engagement.

5. Macao SAR

GDP per Capita: $98,157

Macao SAR's economy is predominantly driven by its robust gaming and tourism industries, which have positioned it as one of the world's premier gaming destinations, akin to Las Vegas in the United States. The region has capitalized extensively on its status as a hub for entertainment and luxury tourism, attracting visitors from across Asia and around the globe. In addition to gaming, Macao has been working to diversify its economic base, focusing on sectors such as finance, trade, and cultural tourism, to reduce its dependence on casino revenues.

The government has also invested in improving infrastructure to support these growth areas and enhance its appeal as a multi-faceted tourist destination. Despite its small size, Macao's strategic focus on high-value service industries continues to play a key role in its economic prosperity.

6. Switzerland

GDP per Capita: $89,537

Known for its neutrality and stability, Switzerland excels in financial services, pharmaceuticals, and high-tech manufacturing. Its economy benefits from a highly skilled labor force and a strong emphasis on research and development. Switzerland boasts a sizable financial services industry as well as a high-tech manufacturing sector staffed by highly qualified workers. A productive economy with one of the highest per-capita GDPs in the world is made possible by strong physical infrastructure, legal, political, and economic institutions of the highest caliber.

7. United Arab Emirates

GDP per Capita: $88,962

The United Arab Emirates (UAE) boasts a dynamic and diversified economy, known for its rapid transformation from a desert landscape to a global business hub. Beyond its significant oil reserves, the UAE has achieved economic diversification with flourishing sectors in tourism, aviation, real estate, and finance. Each year, world-class infrastructure and opulent services draw millions of tourists and business travelers to cities like Dubai and Abu Dhabi. The UAE also fosters innovation through substantial investments in renewable energy and technology.

8. San Marino

GDP per Capita: $84,135

San Marino, one of the world's smallest and oldest republics, has a largely stable economy based on finance, industry, services, and tourism. Banking and the manufacture of ceramics, textiles, and wine play pivotal roles, although tourism is the major driver of economic activity, accounting for a significant portion of the national revenue. The country's picturesque medieval settings attract tourists from Italy and beyond, helping to support its small economy. Despite its size, San Marino maintains economic stability through careful fiscal policies and by leveraging its cultural heritage.

9. Norway

GDP per Capita: $82,655

It is a wealthy non-EU European nation. It boasts the largest oil sovereign wealth fund, a sizable welfare system, and sizable forestry and fishing industries. Budget and spending are further limited by the nation's state-owned energy company and an aging labor force. The United Kingdom, Germany, Sweden, the Netherlands, and China are its main export partners. The nation exports a lot of aluminum, salmon, crude petroleum, and natural gas.

10. United States

GDP per Capita: $80,412

The United States boasts a diverse and technologically advanced economy, with strong sectors in technology, finance, and healthcare. The United States continues to be the largest economy in the world and the richest nation, maintaining its dominant position from 1960 to 2023. Significant industries like manufacturing, services, finance, and technology are the main drivers of its economy, which has an impressive diversity. The US has a sizable consumer market, encourages creativity and entrepreneurship, has a strong infrastructure, and offers a favorable business environment.

Full List of 100 World’s Richest Countries Today