TEMPO.CO, Jakarta - When it comes to identifying the richest country in the world, GDP per capita is often the key indicator. From small nations to global city-states, the 2025 edition sees familiar entries maintaining their dominance, fueled by business-friendly environment, strong government, and beyond.
Luxembourg firmly holds the distinction of being the richest country in the world, boasting a GDP per capita of $140.9K. Best-known for its robust banking and finance sector, this small nation proves to be mighty among the hundreds.
But Luxembourg isn’t alone in this elite group. Here’s the list of the richest countries in the world, based on Visual Capitalist’s report.
What Is the Richest Country in the World?
1. Luxembourg - $140.941
Taking center stage, Luxembourg retains its position as the richest country in the world. Primarily fueled by the banking and finance sector, the nation serves as an attractive base for major global companies thanks to its favorable tax regime.
Before becoming a financial powerhouse, Luxembourg once relied heavily on the steel industry.
2. Ireland - $108.919
Another small but mighty country securing a very high spot is Ireland. Once considered one of Europe’s poorest nations, Ireland’s economic boom is now evident across the financial services, software, and agriculture sectors.
With low taxes and an English-speaking population, the country also stands out as an attractive destination for US-based multinational companies like Google and Apple.
3. Switzerland - $104.896
As the third-richest country in the world, Switzerland has maintained its reputation for decades. Its strength lies far beyond natural resources, as the nation has strategically pushed the boundaries of innovation and industrialization.
Pharmaceuticals, chemicals, and machinery are among Switzerland’s major export sectors.
4. Singapore - $92.932
Lacking abundant natural resources, Singapore has built its prosperity on a combination of critical factors. From a strong government to a forward-thinking mindset and the strategic utilization of its port, the Lion City has established itself as a global hub. From an entrepreneurial standpoint, its business-friendly environment is also highly attractive for foreign investors.
5. Iceland - $90.284
Rounding out the top five, Iceland stands as a strong contender among the richest countries in Europe. The OECD highlights Iceland’s strength in fisheries, largely attributed to its geographic location, having 13% of its territory covered by glaciers, rivers, and lakes.
Adding to its standout fishing industry, Iceland also benefits significantly from a thriving tourism sector.
6. Norway - $89.694
When it comes to abundant natural resources, Norway is likely unmatched. From oil and gas industries to maritime and fisheries sectors, Norway has strategically combined these strengths with a well-educated population. As a result, the nation stands not only at the forefront of the global economy but also as a leader in sustainability and innovation.
7. United States - $89.105
The United States isn’t just the largest economy globally; it is also the seventh-richest country in the world. Benefiting greatly from its openness to innovation and a large, diverse economy, the US has long served as a gateway for flexible business operations and foreign direct investment.
According to The Week, the nation’s wealth is also attributed to the wealthy’s high spending, which stands at a pace faster than inflation, accounting for nearly 70% of the GDP.
8. Macao - $76.314
Although not classified as a sovereign nation, Macao has secured a place on Visual Capitalist’s ranking of the richest countries. This special administrative region of China relies heavily on tourism and the gaming industry.
At the heart of its economy is the casino sector, with gambling having been legal in Macao for nearly 175 years, according to The Macao News
9. Denmark - $74.969
While Denmark’s capital is ranked among the most livable cities in the world, the entire nation stands out for its affluence. Despite a lack of natural resources, Denmark has built a thriving economy around its robust service sector. Supported by efficient governance and sustainable fiscal policies, it continues to grow as a global economic powerhouse.
10. Qatar - $71.653
As the tenth-richest country in the world, Qatar defies its small size with immense prosperity. Its oil and gas sector generates a staggering $100 billion annually, cementing itself as one of the world’s largest exporters. In addition to this wealth, Qatar’s government is also widely known for having near absence of corruption.
These richest countries in the world continue to demonstrate dominance in the global economy, focusing not just on numbers but also on endless innovation and strategic thinking.
Editor’s Choice: 10 Easiest Countries to Obtain Citizenship
Click here to get the latest news updates from Tempo on Google News
