Most people consider GDP overall to rank the wealthiest countries in the world, this particular method can be quite unfairly defined. Countries like China and India will rank very different from a small, wealthier country. A straight measure of wealth would be GDP per capita, using the total economic output of a country divided by the actual population. This would give a much fairer estimate of the amount of wealth existing per person to give insight into living standards and the share of the economy owned by the average person which provides the list of top 10 richest countries as per Forbes report.
However, GDP per capita does not actually control all differences in cost of living and sometimes purchasing power that people actually have. Economists typically make adjustments for this with Purchasing Power Parity (PPP). The adjustment takes in relative prices of goods and services within countries, thus better enabling comparisons of economic well-being across countries.
List of 10 wealthiest countries by GDP per capita in 2025
GDP per capita is calculated by the International Monetary Fund (IMF), and if adjusted for PPP, the richest ten nations for 2025 are as follows:
Source: Forbes
Wealthiest countries 2025
Luxembourg
Luxembourg boasts the world’s highest GDP-PPP per capita at $154,910, a result of its extremely high standard of living. The nation’s wealth stems from having a highly advanced financial services sector in the areas of banking and investment as well as having a business-friendly environment. While small, the Luxembourg economy is well-developed, and the growth rate of 2.7% is indicative of the country continuing to expand, though at a declining rate, due to the already very high level of prosperity.
Singapore
Singapore is also rich, with a GDP-PPP per capita of $153,610. The economy of Singapore is supported by global trade, finance, and high technology. With one of the world’s top financial hubs, Singapore has been favored by its geographical location in Asia and its secure and well-run economy. Economic expansion over the long term of 2.5% captures a healthy business environment and ongoing world trade as per the recent data.
Macao SAR
Macao SAR, China’s Special Administrative Region, boasts an incredible GDP-PPP of $140,250 that indicates its economic wealth largely from the gaming and tourist sectors. It boasts a well-developed casino industry that has contributed a lot to its wealth. It boasts a growth rate of 7.3%, recording a whopping economic growth, mostly due to rising tourism and gaming revenue, and is among the fastest-growing economies in this list.
Ireland
The per capita GDP-PPP in Ireland stands at $131,550 and represents its level of living that is largely triggered by its financial and technology sector. Ireland currently exists as the destination of multinationals, particularly technology and pharmaceutical companies. The economy in Ireland continues to move forward in a steady pace of 2.2% spurred by overseas investment and foreign export as the remainder of the globe experiences boom and bust.
Qatar
Qatar is also endowed with natural resources in the form of oil and natural gas, as is evident from their GDP-PPP per capita of $118,760. Fossil fuel wealth has put Qatar on the list of wealthiest nations. Their growth rate is slower at 1.9%, but that is likely due to the reason that the economy is oil-dependent and diversification has been challenging. But Qatar has a high quality of life for its citizens.
Norway
Norway has a GDP-PPP per capita of $106,540 due to its massive natural resources, specifically oil and gas. Norway also has a very good social welfare system and lifestyle. Its economy is quite developed although it is fairly low on the list with the 1.8% growth rate in comparison to some of the others on the list since the country’s stable but not necessarily rapidly growing economy has already achieved a high degree of prosperity.
Switzerland
Switzerland’s per capita GDP-PPP of $98,140 is due to its robust economy, which is backed by industries like finance, pharma, and manufacturing industries. Switzerland boasts a high standard of living and a stable financial system. Its economy is expanding at a slower pace at a paltry growth rate of only 1.3%, maybe because it is already economically well-developed and because its market is stable.
Brunei Darussalam
Brunei Darussalam has a GDP-PPP of $95,040 courtesy of the oil and gas industries. Brunei is very wealthy, if only modest, due to its fossil fuel exports. Its 2.5% growth rate speaks to moderate development, if perhaps less than more diversified nations. Its reliance on petroleum also leaves its economic future at the whim of global energy prices.
Guyana
Guyana, located in South America, has a GDP-PPP per capita of $91,380, which is quite high among countries in the continent. Guyana is economically growing very fast at a rate of 14.4% due to its new oil production industry. This very fast growth of oil production is changing the country’s economy and turning it into a wealthier nation, ranking it among the world’s fastest-growing economies.
United States
The United States’ GDP-PPP per capita of $89,680 reflects its high standard of living and huge diversified economy. America is a global leader in industry, technology, and finance. The 2.2% growth rate indicates that the United States’ economy is increasing steadily but growing at a lower rate than a few of the new rising economies such as Guyana. Still, it is one of the richest nations with a diversified and healthy economy.
Why do smaller countries lead the list?
At first glance, it may seem surprising that Luxembourg, Singapore, and Macao top the list, while major economies like the United States and China rank lower. The reason is that smaller countries often have advantages that boost their GDP per capita.
- Luxembourg: With a population of just 675,000 and a strong financial sector, Luxembourg benefits from being a hub for international banking and investments. Its tax policies and financial infrastructure attract foreign wealth, which inflates its GDP per capita.
- Singapore: A global business center with high-net-worth individuals, Singapore’s economy thrives on trade, finance, and technology. Despite its small size, its economy is robust due to strategic investments, an open trade policy, and its business-friendly environment.
- Macao: As a special administrative region of China, Macao’s wealth is largely driven by tourism, particularly its casinos. While it suffered during the COVID-19 pandemic, Macao’s economic recovery has been swift, bolstered by its unique blend of capitalism and Chinese laws.
Role of Purchasing Power Parity (PPP)
Per capita GDP is an approximation of wealth, but it certainly does not take into account differences in price indices across countries concerning household consumption expenditures. Thus, Purchasing Power Parity (PPP) eliminates these differences in relative prices of goods and services, so that a more realistic measure of purchasing power is applied. Richer countries looking richer are actually richer with costlier goods and services, then they simply look honest with PPP adjustment per head-there is still incompleteness in that aberrations such as tax havens inflate GDP figures with money that comes from other countries.
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