Wealth is constantly being created around the world. When some nations experience economic contractions, others see economic growth at exponential rates. The richest countries offer their citizens a high standard of living. Premium healthcare, education and environments are also normally accessible to the residents of wealthy nations.
Besides the United States, quite a few other countries have booming economies with a lot to offer citizens. These nations tend to engage heavily in trade and usually have lands filled with natural resources.
This German-speaking country is known for its architecture and mountainous terrain. Beautiful Austria attracts a significant number of tourists every year, which accounts for roughly 9% of its gross domestic product (GDP). Vienna, the country's capital, attracts the most visitors, and that number is steadily rising.
France is said to be the most visited country in the world, but there’s much more to its GDP than tourism. Annual exports total more than $500 billion, making the country one of the wealthiest in the world. Its industries include auto parts, wine, aerospace, electronics, machines and textiles.
Finland is one of the Nordic nations bordering Sweden, Norway and Russia. In 2017, this beautiful country attracted more than 7 million tourists to view the Northern Lights and picturesque snow-covered buildings. This industry, however, only makes up a small percentage of the nation's GDP.
Australia has a highly developed economy and was the country with the largest median wealth per adult in 2018. With an ever-growing GDP of $1.6 trillion, the country is one of the richest in the world. Sydney is the nation's capital and also the country’s financial hub.
The North American country of Canada is one of the largest wealthy nations. The population, however, isn't high considering its size. Nevertheless, the country’s economy is one of the most productive in the world. The GDP is more than $1.71 trillion, with the majority coming from the service industry.
The small nation of Belgium is located in Western Europe and boasts one of the most well-diversified economies in the world. Brussels, the nation's capital, is also the capital of the European Union. Its central location led to a developed transport network that is mostly used for trade. More than 80% of Belgium’s trade is with other nations within the EU.
New Zealand is an island country in the South Pacific approximately 1,300 miles from Australia. It has recently experienced a boom in its economy due to improvements in technological capabilities, which attracted foreign investments as well as expatriates. As with other isolated nations without neighbors, New Zealand relies heavily on trade.
Germany has a GDP of more than $3.8 trillion, making it one of the largest economies in the world. It's both the largest country and the largest economy in Europe. Positioned at the forefront of the European Union, Germany exports more than $1.7 trillion every year. It had the highest trade surplus in the world at $310 billion in 2016.
The Scandinavian country of Denmark is one of the richest countries in the world, and it has a diverse, modern economy. With a GDP totaling more than $324 billion, the nation has a high dependence on foreign trade. As with most wealthy countries, the service industry dominates the global economy.
Japan is a nation consisting of multiple islands in the Pacific Ocean. It has the third-largest economy in the world, with a GDP per capita of more than $38,000 and a large number of highly skilled workers. Japan's automobiles and electronic goods are of superior technical quality and exported worldwide. Exports total more than $700 billion, and trading partners are mainly the United States, China and Europe.
This Nordic country boasts a GDP per capita of more than $50,000 and has a very developed economy. As with most of its neighbors, Sweden has a mixed system that includes both high capitalism and welfare benefits. It has a liberal open market economy that relies heavily on exports.
This small but powerful country in Western Europe attracts hordes of tourists to see the sights in Amsterdam and the famed tulips. Aside from tourism, the nation is a top exporter. One of its major cities, Rotterdam, is home to the biggest port in Europe. Trade flowing through there makes the country a vital part of the European Union.
Ireland is known for more than beer and potatoes. The country has a GDP per capita of more than $70,000, making it one of the wealthiest countries in the world. Its open economy places emphasis on the services sectors, such as high-tech, financial and agrifood.
Hong Kong is a Special Administrative Region controlled by The People's Republic of China. The tiny nation enjoys limited autonomy and has seen an unprecedented economic boom in recent decades. Low tax rates and a significant amount of economic freedom have attracted many multinationals. Companies encounter very little government intervention in Hong Kong.
United Arab Emirates
The United Arab Emirates comes in second to Saudi Arabia as the largest economy in the Middle East. Petroleum and natural gas are the foundation for the wealth this nation experiences. This industry has allowed the country to bloom into a country filled with skyscrapers in the middle of the desert. The oil reserves contribute to 85% of the economy.
Another nation with an economy mainly based on oil is Saudi Arabia. The nation has the second-largest petroleum reserve and exports the most oil of any nation in the world. Valued at $33 trillion, the oil makes the country one of the richest in terms of natural resources.
This beautiful landlocked nation is synonymous with banks, watches and chocolate. It’s true that these industries make up a substantial part of the wealth of Switzerland. As one of the richest countries in the world, the GDP per capita surpasses more than $80,000.
The citizens of this Nordic nation have a high quality of living due to a strong mixed economy. Norway integrates a combination of state ownership and free-market capitalist principles. The country is rich in natural resources, namely petroleum from the North Sea, and exports a significant amount.
The island nation of Singapore sits in a prime location on the Malay Peninsula, making it a trade hub in Asia. With low corruption and a free market economy, the nation has boomed tremendously in the last few decades. While many industries are owned by the government, the nation has benefited from large flows of foreign direct investments.
One of the wealthiest countries in the world, Brunei is a small nation located on the island of Borneo. It is a highly socialist state and has a population of less than half a million people. The government controls most of the industries, and the Sultan is in control of healthcare, education and other sectors. Food and housing are significantly subsidized for the country’s citizens.
Qatar is a nation with an absolute monarchy and a GDP per capita of more than $62,000. Natural gas and petroleum are the foundation of the wealthy economy, and the financial and steel sectors make up the rest. Prior to the discovery of oil, Qatar was a relatively poor country where the main lucrative activity was pearl diving.
Iceland is a small nation that has recently gained popularity as a travel destination. Tourism accounts for a staggering 10% of GDP, making it the largest sector. Other industries include seafood processing, aluminum smelting, geothermal power and hydropower.
With a GDP per capita of $40,000, the industrialized nation of the United Kingdom offers its citizens a high quality of life. The economy is highly developed with trade and foreign direct investments serving as the foundation of its wealth. The service industry accounts for 80% of GDP. London, the country's capital, is the largest financial center in the world.
The great landlocked country of Luxembourg is often called the richest country in the world. The nation is rather small, however, with a population of only 600,000. The GDP per capita is slightly more than $105,000, with the financial sector contributing most of it. The world-renowned banking industry is the largest sector in Luxembourg's economy.
The small nation of Kuwait is a wealthy, oil-based economy in the Middle East. The country has an annual GDP of more than $150 billion and a population of only 4 million. Both crude and refined petroleum oils are exported along with fertilizers for a total of roughly $55 billion every year.
In the Middle East, the nation of Israel is famous for its diamond industry. The cutting and polishing of the precious stones make up a hefty 23% of its exports. The GDP is slightly below $400 million but is steadily growing every year. Israel has a highly advanced free market economy that has prospered in recent years.
With the third-largest economy in the area, Italy is another leader in the European Union. It was one of the founding members of the Eurozone and has a GDP of more than $2 trillion. Italian agriculture is exported worldwide. Along with grapes and olives, clothing is also one of the nation's major industries. The economy is diverse and excels in multiple sectors.
South Korea is a technologically advanced nation with a GDP per capita of $30,000. With an ever-growing population that is currently at 51 million, this country provides a high standard of living for its citizens. The economy is dominated by family-run conglomerates known as chaebols, including Samsung, LG and Hyundai.
The beautiful country of Spain has a capitalist mixed economy that is the fifth-largest in the European Union. With a GDP per capita of more than $29,000, Spain enjoys a high standard of living. Although the country dealt with a recession in 2008, the economy has managed to bounce back and is steadily growing.
San Marino may be a nation that only covers 24 square miles of land, but it’s one of the wealthiest countries in the world. The country boasts a GDP per capita of more than $46,000. Although the nation experienced an economic contraction in 2008, the government has made necessary changes to counter this.