There are several ways to measure a country’s wealth. Gross domestic product, for one, measures the total value of goods and services produced within a country and is a good gauge for the size of an economy.
Another measure is gross national income. When the total GNI of a country is divided by its population, GNI per capita can provide insights into the economic well-being and standard of living within a nation.
For example, residents of countries with the highest GNI per capita tend to enjoy longer life expectancies and governments with relatively less corruption than poorer countries.
GNI per capita is a useful measure of a country’s wealth as it takes into account both the income generated domestically and income earned from abroad, offering a more comprehensive reflection of a nation’s economic performance in relation to population size.
To determine the 20 richest countries in the world, 24/7 Wall St. reviewed data on GNI per capita for 198 countries and special regions from the World Bank. The World Bank estimates GNI per capita using the purchasing power parity method. Figures are in current international dollars. The 20 countries on this list have GNI per capita of over $56,000.
Because GNI per capita considers both total income and population size, not just countries with the largest economies are on this list, but also small nations that have both smaller economies and smaller populations.
So while China has the world’s second-largest economy by GDP, it is not on the list as its population is the world’s largest. China’s GNI per capita is $19,160, ranking 79th. (See if the wealthiest countries also rank among the happiest countries in the world.)
20. Finland
> GNI per capita, 2021: $56,150
> GDP, 2021: $297.30 billion (#46 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 81.9 years (#20 highest of 210 countries)
> Corruption perception index, 2022: 87 (#2 highest of 180 countries)
> Population, 2021: 5,541,017
Located in Northern Europe, Finland has a highly advanced technology sector, particularly in telecommunications and electronics. The Nordic country also excels in forestry, paper manufacturing, and renewable energy.
Finland ranks as being the second least corrupt country in the world, while life expectancy at birth is 20th highest at 81.9 years.
19. Iceland
> GNI per capita, 2021: $56,250
> GDP, 2021: $25.60 billion (#110 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 83.1 years (#11 highest of 210 countries)
> Corruption perception index, 2022: 74 (#14 highest of 180 countries)
> Population, 2021: 372,520
Situated in the North Atlantic Ocean, Iceland’s economy is only ranked 110th largest by GDP but its population is among the smallest, resulting in a relatively high GNI per capita. Iceland’s economy is driven by renewable energy, tourism, and fishing.
Its unique geography allows it to harness geothermal and hydroelectric power sources. Iceland has the 11th highest life expectancy at 83.1 years.
18. Austria
> GNI per capita, 2021: $59,490
> GDP, 2021: $480.37 billion (#30 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 81.2 years (#24 highest of 210 countries)
> Corruption perception index, 2022: 71 (#22 highest of 180 countries)
> Population, 2021: 8,955,797
Nestled in the heart of Europe, Austria is celebrated for its breathtaking Alpine landscapes. It has a strong tourism industry, along with sectors such as machinery manufacturing, renewable energy, and high-tech. With a population of under 9 million and the 30th largest economy, Austria is one of the wealthiest in the world.
17. Belgium
> GNI per capita, 2021: $59,920
> GDP, 2021: $594.10 billion (#23 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 81.9 years (#21 highest of 210 countries)
> Corruption perception index, 2022: 73 (#18 highest of 180 countries)
> Population, 2021: 11,592,952
Located in Western Europe, Belgium is known for its historic cities and world-famous chocolates. Belgium has a relatively diversified economy, with leading industries including manufacturing, pharmaceuticals, chemicals, and services. It benefits from its strategic location in Europe
16. Germany
> GNI per capita, 2021: $60,050
> GDP, 2021: $4,259.93 billion (#4 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 80.9 years (#27 highest of 210 countries)
> Corruption perception index, 2022: 79 (#9 highest of 180 countries)
> Population, 2021: 83,196,078
Situated in Central Europe, Germany has the world’s fourth largest economy by GDP. It is a powerhouse in manufacturing, known for its automobiles, machinery, and chemical products. Germany is also a major exporter and a key player in the European Union. It is also considered the ninth least corrupt country.
15. Sweden
> GNI per capita, 2021: $61,000
> GDP, 2021: $635.66 billion (#22 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 83.2 years (#10 highest of 210 countries)
> Corruption perception index, 2022: 83 (#5 highest of 180 countries)
> Population, 2021: 10,415,811
Located in Northern Europe, Sweden’s economy is diversified, with key industries including manufacturing, telecommunications, pharmaceuticals, and automotive. The export-oriented Scandinavian nation is considered the fifth least corrupt and has the 10th highest life expectancy at 83.2 years.
14. Netherlands
> GNI per capita, 2021: $63,360
> GDP, 2021: $1,012.85 billion (#17 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 81.5 years (#22 highest of 210 countries)
> Corruption perception index, 2022: 80 (#8 highest of 180 countries)
> Population, 2021: 17,533,044
The Netherlands’ economy is the 17th largest in the world by GDP. While the highly developed economy is a leader in the global flower market, other leading industries include food processing, chemicals, high-tech, and financial services. The Netherlands also boasts a strong maritime and logistics sector, with Rotterdam being the biggest port in Europe.
13. Brunei Darussalam
> GNI per capita, 2021: $66,480
> GDP, 2021: $14.01 billion (#135 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 74.6 years (#63 highest of 210 countries)
> Corruption perception index, 2022: N/A
> Population, 2021: 445,373
12. Denmark
> GNI per capita, 2021: $66,760
> GDP, 2021: $398.30 billion (#36 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 81.4 years (#23 highest of 210 countries)
> Corruption perception index, 2022: 90 (#1 highest of 180 countries)
> Population, 2021: 5,856,733
11. United States
> GNI per capita, 2021: $70,480
> GDP, 2021: $23,315.08 billion (#1 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 76.3 years (#52 highest of 210 countries)
> Corruption perception index, 2022: 69 (#24 highest of 180 countries)
> Population, 2021: 331,893,745
10. Hong Kong SAR, China
> GNI per capita, 2021: $70,600
> GDP, 2021: $369.18 billion (#40 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 85.5 years (#1 highest of 210 countries)
> Corruption perception index, 2022: 76 (#12 highest of 180 countries)
> Population, 2021: 7,413,100
9. United Arab Emirates
> GNI per capita, 2020: $71,280
> GDP, 2021: $415.02 billion (#34 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 78.7 years (#38 highest of 210 countries)
> Corruption perception index, 2022: 67 (#27 highest of 180 countries)
> Population, 2021: 9,365,145
8. Macao SAR, China
> GNI per capita, 2021: $72,940
> GDP, 2021: $30.12 billion (#102 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 85.4 years (#2 highest of 210 countries)
> Corruption perception index, 2022: N/A
> Population, 2021: 686,607
7. Switzerland
> GNI per capita, 2021: $75,680
> GDP, 2021: $800.64 billion (#20 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 83.9 years (#4 highest of 210 countries)
> Corruption perception index, 2022: 82 (#7 highest of 180 countries)
> Population, 2021: 8,703,405
6. Ireland
> GNI per capita, 2021: $78,650
> GDP, 2021: $504.18 billion (#25 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 82.1 years (#19 highest of 210 countries)
> Corruption perception index, 2022: 77 (#10 highest of 180 countries)
> Population, 2021: 5,033,165
5. Luxembourg
> GNI per capita, 2020: $84,020
> GDP, 2021: $85.51 billion (#71 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 82.7 years (#14 highest of 210 countries)
> Corruption perception index, 2022: 77 (#10 highest of 180 countries)
> Population, 2021: 640,064
4. Norway
> GNI per capita, 2021: $84,260
> GDP, 2021: $482.17 billion (#29 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 83.2 years (#9 highest of 210 countries)
> Corruption perception index, 2022: 84 (#4 highest of 180 countries)
> Population, 2021: 5,408,320
3. Bermuda
> GNI per capita, 2021: $91,950
> GDP, 2021: $07.29 billion (#160 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 79.3 years (#33 highest of 210 countries)
> Corruption perception index, 2022: N/A
> Population, 2021: 63,867
2. Qatar
> GNI per capita, 2021: $100,450
> GDP, 2021: $179.68 billion (#57 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 79.3 years (#34 highest of 210 countries)
> Corruption perception index, 2022: 58 (#40 highest of 180 countries)
> Population, 2021: 2,688,235
1. Singapore
> GNI per capita, 2021: $102,450
> GDP, 2021: $396.99 billion (#37 highest of 214 countries)
> Avg. life expectancy at birth, 2021: 83.4 years (#6 highest of 210 countries)
> Corruption perception index, 2022: 83 (#5 highest of 180 countries)
> Population, 2021: 5,453,566
