This is very simple to do, you need to have only two things: a small population and a decent supply of energy resource, preferably in the form of oil or gas. And if you are not lucky and your country is without natural resources or you have a huge population, you will have to work hard.
We deal with GDP
Gross domestic product is the value of all services and goods released per year in the state. GDP per capita is one of the most important economic indicators. It is simple and understandable to everyone, according to it the material well-being of countries and, most importantly, an objective comparison of them with each other is determined throughout the world. This indicator annually determines the richest country in the world.
GDP can be calculated in three ways: by income, by expenditure, or by value added. In recent years, a third method has been used.
One cannot fail to mention criticism of the GDP. Even the author of the indicator, Simon Kuznets, warned of the short-sightedness of using GDP growth as a criterion for increasing the country's overall well-being.
The main critical argument is the accusation of GDP of strategic short-sightedness: the presence at the top of the list of countries that create their wealth through the extraction of irreplaceable resources speaks of encouraging thoughtless spending of natural capital.
When the US and China go in one bundle
Annual GDP is a figure in absolute terms; it shows leaders in absolute wealth. Here the USA has long and tightly dominated. In 2017, US GDP reached 19.3 trillion US dollars. This fantastic amount is quite comparable to their legendary US government debt of 20.3 trillion. The level of absolute GDP in this case is important because it speaks of the solvency of the United States and makes this country the most coveted debtor in the world: everyone wants to lend to America - this is what the TOP of the richest countries in the world means.
China is second in terms of GDP, keeping a decent neighborhood next to the US with annual GDP of 12.2 trillion US dollars. The next three countries are at a respectful distance from the first two world giants: Japan, Germany, Great Britain. The list goes on, Russia takes 13th place in it.
USA or Qatar after all?
A more objective indicator is that talking about the level of wealth of each citizen within the country: GDP per capita at PPP (purchasing power parity). According to such calculations, Qatar is the richest country in the world. He bypasses the US in the most convincing way: $ 146, 176 against $ 58, 952. Here is a list of the 10 richest countries in the world:
- Qatar.
- Luxembourg.
- Singapore.
- Brunei.
- Kuwait.
- Norway.
- UAE
- Hong Kong.
- USA.
- Switzerland.
It is interesting that five countries have a place in the list of the richest countries due to one capacious word - OIL. Qatar, Brunei, Kuwait, Norway, United Arab Emirates: rich oil resources and a compact territory with a small population - this is it, the cherished two of the conditions for the country's wealth and prosperity. Not everyone regards the list of the richest countries in the world as fair. It is one thing when wealth in the form of oil is obtained according to the “God sent” principle, and quite another when the welfare of citizens individually and the country as a whole is achieved through technology, skill, authority and all that is earned by hard work.
However, there are other examples in the world: Venezuela, having vast oil deposits, managed to bring its citizens to poverty and social unrest. So the ability to effectively convert fossil resources into the real wealth of the country can also be attributed to the "skill" of the states.
Want to live in the richest country in the world?
In Qatar, a country of deserts with rare oases, huge reserves of gas and oil.
An absolute monarchy with Sharia law, including stoning and the death penalty, if anyone wants to get out of Islam. Only 20% of the population are citizens of Qatar, who are entitled to huge social benefits from oil revenues. No one can obtain citizenship, for this you need to be born Qatar, there are no other ways.
"Fair" wealth
Singapore's bronze medalist earned his place under the sun by perseverance, hard work and courage in the modernization of almost all economic and political processes.
The silver medalist is the richest European miniature state of Luxembourg with a population of just over half a million. Thousands of banks and investment funds are located here thanks to significant benefits, an offshore zone and a developed service system.
The closing list Switzerland is distinguished by extremely qualified labor market professionals and the highest quality services. The Swiss are the largest importers and exporters of gold in the world, have the highest reputation in the financial world and trust in Swiss business law, which is formed by decades of excellent work.
