Ten Of The Richest Countries In The World

“I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.” Jim Carrey

It is confusing to rate the wealthiest countries these days.  It is usually rated by the GDP – gross domestic product. But there are other categories which change the list – third world rankings, most money, most growth etc., country size etc.  I’m going to go with the  original criteria which always puts the small Arab Oil Countries ahead of the big countries like the United States, Russia and China. Lists are different and I compiled a few.

1. Every list is in agreement that Qatar is the world’s richest country. It is full of five star hotels and has a five star airline.  Qatar wants to be the Arab world’s next super power.The streets are not paved with gold but consistently being dug up for new electrical cables and drainage getting ready for World Cup 2022. There are questions about bribery for the games. In fifty years it has gone from a poor fishing country to a rich oil-producing country. Qatari are the world’s richest people with an average income of 400,000 dollars per year. They are also rapidly becoming the world’s fattest. Since they don’t need to work and everything is done for them, they sit around smoking and eating junk food. The country’s traditional culture makes it difficult to go on a diet. You never leave someone’s house without eating.

2. Tiny Luxembourg is rich. It pays the highest wages in Europe so people from surrounding countries often work there. It is great for financial companies, banking and tax breaks. The reason it is rich is for stability, financial and investment reasons that I can not really explain. Luxembourg is on all lists in the top three every year.

3. Singapore has more millionaires per capita than anywhere else in the world. It is a city-state with about five million people so the scale isn’t comparable to the challenges of a country. Singapore is not fueled by natural resources. It is perfectly positioned to take advantage of the rise of Chinese and Southeast Asian wealth in coming years. Singapore has also pushed into electronics and tech.  Singapore made itself an internationally oriented economy and that has  paid off for its people.

4. Abu Dhabi, the capital of the United Arab Emirates is the richest city in the world. The city of  Dubai is well-known as a playground for the rich. There is no sales tax or income tax. They have tried to cut their dependency on oil by diverting their economy, creating new businesses and increasing tourism.

5. Brunei is a tiny country on the island of Borneo in the South China Sea.  I do know that it is ruled by a Sultan and he is very rich. He owns the Beverly Hills Hotel among many other things. It is one of the smaller countries in the world so I don’t know how fair that is. The Sultan of Brunei presides over an absolute monarchy, and the government has just delayed its decision to reintroduce stoning, severing limbs and flogging for theft, adultery and homosexuality under the code of Sharia law. The UN has expressed concerns. But as long as the oil doesn’t run out, they are good.

6. Norway is prosperous, happy and free. Its towns and cities are orderly and comfortable. The people are educated, speak many languages and trade comfortably with the European Union. The nation is the largest producer of oil on the continent, and that advantage has helped the country put together a sovereign wealth fund of $860 billion dollars.  Norway sets itself apart from many oil-producing countries, particularly in the former Soviet Union and the Middle East in the way that the wealth is distributed. Instead of  oil generating revenues that make the governing elites fabulously wealthy, while the rest of the citizens depend on their leaders’ handouts or upon trickle-down economics for their share of what is left, Norway puts the money back into the country funding many government programs. 

7. Kuwait is an oil rich country in the Middle East. They say there are no poor people in Kuwait but that is usually said by the very rich who don’t know them. The provision of social services to Kuwaiti citizens, compared with most Western countries, is extensive. The state welfare system  cares for the needy, and aids families in need because of divorce, old age, disability, parental death, illness, or financial difficulty. Educational and marital status are taken into account in granting aid. Long standing tribal families and Sunni Muslims receive preferential treatment in Kuwait. They are an economically backward and politically unstable country compared to other oil-producing  countries.

8. Long-term monetary security and political stability has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment  They aren’t picky about who invests money there – blood stained dictators, mafia, embezzlers, Nazis are among the many investors throughout the years.  The country’s small size and high labor specialization make industry and trade the keys to Switzerland‘s economic livelihood. They are rich, happy  and have great chocolate.

9. The United States has a lot of rich people. We have the largest amount of private wealth in the world. We also have one of the largest wealth inequality gaps making the uneven distribution of wealth a persistent issue. Yes even with all our problems, we are still considered lucky and rich.

10, With its vast oil wealth, Saudi Arabia has one of the highest concentrations of super rich households in the world. They are so rich that they have been able to hide the poverty in the country from sight. Saudi Arabia  had the largest oil reserves in the world. They are the biggest international exporter in crude oil and the amount of revenue they make from it is huge . Mecca helps – bringing in a lot of tourists. for the annual pilgrimage But unless Tesla really takes off, Saudi Arabia will continue to be one of the richest countries in the world.

Fly safe,

JAZ