The visual below shows the richest countries in the world, based on 2023 IMF projections of Gross Domestic Product (GDP) per capita.
Source: Visual Capitalist
Measuring GDP per capita is a common measure of the economic wealth of a country on a per person basis. The chart above sorts countries according to the latest International Monetary Fund (IMF) projections on GDP per capita for 2023.
Luxembourg, one of the smallest countries in the EU with a population of 634,000, is the richest country in this ranking with a per capita GDP of nearly USD130,000. The country boasts a large financial services sector, which accounts for the majority of its economic output. Luxembourg’s per capita GDP is 400x the per capita GDP of the world’s poorest country, Burundi, at $303.
Ireland is the second-richest country on a GDP per capita basis with USD107,000, followed by Switzerland at USD94,000. Ireland’s GDP per capita, in particular, has seen a significant increase in recent years due to its pro-business environment, low corporate tax rates, and highly educated workforce that attracts foreign direct investment.
Australia comes in at the ninth position, with a GDP per capita of USD68,000.
Most of the richest countries are found in Europe and North America (the top two richest continents), and on the other hand, most of the poorest countries in the world are found in Africa.
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