How to determine how rich a country is and compare it with the others? Of course, the key indicator is the GDP per capita (a total value of goods and services produced by a nation during a year divided by its total population). It shows how rich each citizen is, on average, but unfortunately does not take into account differences in the cost of living in various parts of the world.

 

For the most accurate measurement, economists use GDP based on Purchasing Power Parity, the so-called GDP (PPP) per capita. It calculates the total value of goods and services produced in each country as if they were sold at US prices. So we can compare nations with different standards of living by measuring their GDP (PPP) per capita in international dollars (equivalent to US dollar), and find out who is the richest of them.

The strong economy positively affects an average life expectancy in a country but does not influence people’s satisfaction with their lives, does not determine how happy are they. A Ranking of Happiness (based on the poll of real people from the different parts of the world) could give us an answer. Respondents evaluate own living conditions and happiness level on a scale from 0 to 10 points. On the basis of these data, the World Ranking of Happiness is formed (note that some microstates do not participate in the survey).

 

List of the 50 richest countries ranked by GDP based on purchasing-power-parity (PPP) per capita
 
 
Rank Country GDP(PPP) per capita 2018 (Intl $) Continent Average Life
Expectancy (years)
Happiness Ranking
Rank 2018 (score)
1 Liechtenstein 139,100 Europe 82.66 no data
2 Qatar 128,703 Asia 78.41 32 (6.374)
3 Monaco 115,700 Europe 89.40 no data
4 Luxembourg 110,870 Europe 82.40 17 (6.910)
5 Singapore 98,014 Asia 83.30 34 (6.343)
6 Ireland 79,925 Europe 81.71 14 (6.977)
7 Brunei 79,726 Asia 77.49 no data
8 Norway 74,065 Europe 82.39 02 (7.594)
9 United Arab Emirates 68,662 Asia 77.49 20 (6.774)
10 Kuwait 66,673 Asia 74.87 45 (6.083)
11 Switzerland 63,380 Europe 83.56 05 (7.487)
12 United States 62,152 North America 79.62 18 (6.886)
13 San Marino 61,169 Europe 83.48 no data
14 Netherlands 56,436 Europe 82.06 06 (7.441)
15 Saudi Arabia 55,859 Asia 74.80 33 (6.371)
16 Iceland 54,121 Europe 82.99 04 (7.495)
17 Sweden 53,078 Europe 82.70 08 (7.324)
18 Germany 52,801 Europe 81.27 15 (6.965)
19 Taiwan 52,305 Asia 80.26 26 (6.441)
20 Australia 52,191 Australia and Oceania 83.15 10 (7.272)
21 Austria 51,936 Europe 81.86 12 (7.139)
22 Denmark 51,643 Europe 80.91 03 (7.555)
23 Bahrain 50,103 Asia 77.11 43 (6.105)
24 Andorra 49,900 Europe 82.91 no data
25 Canada 49,775 North America 82.76 07 (7.328)
26 Belgium 48,258 Europe 81.39 16 (6.927)
27 Finland 46,343 Europe 81.57 01 (7.632)
28 Oman 45,723 Asia 77.37 no data
29 United Kingdom 45,566 Europe 81.77 19 (6.814)
30 France 45,474 Europe 82.80 23 (6.489)
31 Malta 44,670 Europe 81.09 22 (6.627)
32 Japan 44,426 Asia 83.98 54 (5.915)
33 South Korea 41,388 Asia 82.44 57 (5.875)
34 Spain 40,290 Europe 83.36 36 (6.310)
35 New Zealand 40,118 Australia and Oceania 82.98 08 (7.324)
36 Italy 39,500 Europe 83.26 47 (6.000)
37 Cyprus 38,980 Europe 80.74 61 (5.762)
38 Israel 37,673 Asia 82.74 11 (7.190)
39 Czechia 37,546 Europe 78.93 21 (6.711)
40 Slovenia 36,566 Europe 81.15 51 (5.948)
41 Slovakia 35,095 Europe 77.26 39 (6.173)
42 Lithuania 34,596 Europe 74.77 50 (5.952)
43 Estonia 33,842 Europe 77.69 63 (5.739)
44 Equatorial Guinea 32,855 Africa 59.48 no data
45 Bahamas 32,283 North America 75.89 no data
46 Trinidad and Tobago 32,011 North America 70.82 38 (6.192)
47 Portugal 31,965 Europe 81.52 77 (5.410)
48 Poland 31,430 Europe 77.82 42 (6.123)
49 Hungary 31,370 Europe 76.08 69 (5.620)
50 Malaysia 30,858 Asia 75.52 35 (6.322)

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