List of Top ten richest countries in the world.

While determining  the richness of  a country and compare it with the others, the main indicator is the GDP per capita (a total value of goods and services produced by a nation during a year divided by its total population). This is the main parameter for finding out the richness and prosperity of country as a whole. It also shows how rich each citizen is, on average, but unfortunately this parameter does not take into account differences in the cost of living in various parts of the world. In some countries the per capita income is high but the cost of living is also high. In such countries the level of prosperity is not satisfactory. While in some countries the per capita income is not as high as mentioned above, but the cost of living is reasonable, then the prosperity level of these countries is quit satisfactory. 

The richness and prosperity are quit different things. Per capita income explains the richness, while prosperity is measured through per capita income+cost of living.

For the most accurate measurement economists use GDP based on Purchasing Power Parity, the so called GDP (PPP) per capita. It calculates the total value of goods and services produced in each country, as if they were sold at US prices. So we can compare nations with different standards of living by measuring their GDP (PPP) per capita in international dollars (equivalent to US dollar), and find out who is the richest of them.

A strong economy positively affects an average life expectancy in a country, but do not influence people’s satisfaction with their lives, do not determine how happy are they. A Ranking of Happiness (based on the poll of real people from the different parts of the world) could give the answer. Respondents evaluate own living conditions and happiness level on a scale from 0 to 10 points. On the basis of these data, the World Ranking of Happiness is formed (note that some microstates do not participate in the survey).

List of the 10 richest countries ranked by GDP based on purchasing-power-parity (PPP) per capita
Rank Country GDP(PPP) per capita 2016 (Int.$) Continent Average life expectancy (years) Happiness Ranking
Rank 2017 (score)
1 Qatar 129,727 Asia 78.68 35 (6.375)
2 Luxembourg 101,936 Europe 82.30 18 (6.863)
3 Liechtenstein 89,400 Europe 82.38 13 (6.51)
4 Singapore 87,082 Asia 83.69 26 (6.572)
5 Brunei 79,711 Asia 79.49 23 (6.123)
6 Monaco 78,700 Europe 89.67 13 (6.912)
7 Kuwait 71,264 Asia 74.83 39 (6.105)
8 Ireland 69,375 Europe 81.52 15 (6.977)
9 Norway 69,296 Europe 82.11 01 (7.537)
10 United Arab Emirates 67,696 Asia 77.55 21 (6.648)

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