The richest countries in the world in 2024 are excellent locations to reside, raise a family, and retire, but they also have exceptionally high living costs.
Examining a nation’s economic GDP per capita is the finest and perhaps most generally employed method for estimating its richness. This figure represents the amount of money that a democratic representative must give to each resident.
The world’s richest countries are not quite as astounding as they were two decades ago. They are countries that are usually referred to as the world’s economic centers and, as a result of their low corporate taxes, attract a huge number of firms. When combined with dwindling demographics, large per capita earnings are created that most other countries will never be able to compare.
Richest Countries in the World in 2024:
Here is the list of the top 10 Richest Countries in the world in 2024.
- United States
- Germany
- Canada
- Japan
- Mexico
- France
- China
- Australia
- United Kingdom
- Sweden
1. United States:
- US GDP, PPP Per Capita: 63,543.58 USD
- US Population since 2020: 332,403,650
The United States is a nation in North America that consistently ranks globally in the populated country in the world and geography. It is the country’s third wealthiest nation, behind China.
In 2019, average capital assets in the United States had increased by much more than 13percentage points to $245,000, partly thanks to rich Citizens saving their tax reductions instead of consuming them, and because Americans are more likely to purchase shares than individuals in most other nations.
America was ahead of Switzerland and Singapore in average per capita assets, but it came last among Allianz’s riches equality index.
2. Germany:
- Germany’s GDP, PPP Per Capita: 51900.00 USD
- Germany’s Population: 84,218,635
The Federal States of Germany is its official designation. It is Europe’s second-most densely populated country and its seventh biggest country. Whenever it refers to the world’s largest richest nations, Germany ranks third.
The German financial system is, without uncertainty, the most powerful in Europe as well as the fourth largest in the world. They get an Income per capita of 0.928 and the most modern medical science and innovation.
The primary factor is, without hesitation, trade.
Germany is in 3rd spot, behind the United States and China.
They supply a variety of critical goods such as concrete, automobiles, pharmaceuticals, and industrial items all over the globe.
3. Canada:
- Canada’s GDP, PPP Per Capita: 48870.00 USD
- Canada’s Population: 38,278,986
Another North American state has joined the ranks of the world’s largest richest countries, following the United States. In terms of the overall territory, it is the world’s second-biggest nation after Russia.
The GDP of Canada is a very good social democracy. It has the nation’s 9th highest gross Domestic Product (GDP) and the 15th largest PPP Economy. As elsewhere prosperous nations, the service industry, which employs about three-quarters of Canadians, accounts for the largest share.
With a total projected valuation of $33.2 trillion in 2019, Canada seems to have the third-highest approximate value of natural resources. It is the world’s third-largest strategic petroleum resource and fourth-largest crude oil producer.
4. Japan:
- Japan’s GDP, PPP Per Capita: 41780.00 USD
- Japan’s Population: 125,848,170
East Asia’s island state ranks eighth among the country’s biggest economies. Japan is the planet’s ninth most populated country, yet it is also one of the most urbanized.
The Japanese economy is a well-developed free-market system. Consequently, it has the Gross Domestic Product (GDP) and the fourth-largest real effective exchange rate globally (PPP).
It has the world’s second-largest successful economy. Japan is a component of both the G7 and G20. As per the International Monetary Fund, the nation’s economic per capita Income (Gdp) during 2020 was approximately $41,637.
5. Mexico:
- Mexico’s GDP, PPP Per Capita: 19800.00 USD
- Mexico’s Population: 131,130,110
On the rankings of wealthiest nations on the planet, the tenth-largest populated country is ranked 9th. Mexico is a nation in North America known today as the United Mexican States.
Mexico is a federal democracy with 31 countries and a single federal territory. Even though the US presidency has pledged to change the nature of the agreement in the coming years, the country has an increasing market sector with strong links to the United States, which has traditionally been an important trade partner.
Mexican workers in the United States transfer billions of dollars back to their home country each year. The preponderance of the Mexican sector is provided, with about two-thirds of GDP coming from trade, infrastructure, finance, and administration.
6. France:
- France GDP, PPP Per Capita: 46340.00 USD
- France Population: 65,507,875
France, another European country, recently rose to number five on the ranking of the globe’s wealthiest countries. Beverages and fine gastronomy are well-known in this nation. Paris, France’s headquarters, is known for its fashion houses, museums of fine antiquity, and monuments.
The French economy is among the country’s highest, and it is a mix of industry and government initiatives.
Tourism is a major source of revenue for France, and it routinely ranks top one of the most frequented countries. Other major financial sectors include industrial, agriculture, power, and defense. The country is a significant armament exporter throughout the globe.
7. China:
- China’s GDP, PPP Per Capita: 18210.00 USD
- China’s Population: 1,448,342,029
As the highest population densities country, China has climbed to the forefront of ranking the world’s wealthiest countries. China, formerly known as the People’s Republic of China, is a country in East Asia that spans five time zones and has 14 territories.
Worldwide personal wealth will exceed $514 trillion in 2020, rising from $156 trillion in 2000, as per McKinsey & Co. China topped the worldwide rankings, contributing to over a third of all development.
China’s economy has expanded dramatically from $7 trillion in 2000 to $120 trillion in 2020. This is a $113 trillion rise in twenty years, putting the country ahead of the United States in terms of net worth.
8. Australia:
- Australia’s GDP, PPP Per Capita: 49600.00 USD
- Australia’s Population: 25,979,786
Australis is currently the world’s largest and sixth largest by territory. It is the only Oceanian nation ranking the world’s wealthiest country.
Australia is a prosperous country with a market-based GDP with a considerable gross national product and per capita income. Its industry is employed in the service sector and earning foreign exchange.
9. United Kingdom:
- UK GDP, PPP Per Capita: 44910.00 USD
- UK Population: 68,464,599
England, Scotland, Wales, and Northern Ireland are the four nations, including the United Kingdom, a European island country. The European country is rated fifth on the world’s richest nations.
The economy of the United Kingdom is a very well democratic sector and market-oriented economy. It accounts for 3.3 percent of Gross domestic product and has the world’s fifth-largest conventional gross national product (GDP), tenth-largest GDP per capita (PPP), and twenty-first-largest GDP growth.
The United Kingdom is made up of England, Scotland, Wales, and Northern Ireland, and it is one of the world’s largest strategic series.
10. Sweden:
- Sweden’s GDP, PPP Per Capita: 54480.00 USD
- Sweden’s Population: 10,201,435
The Nordic region is the wealthiest nation in Northern Europe, the European Union’s third-biggest state, and Europe’s fifth-largest nation. The fourth European Union is of the world’s wealthiest countries.
Swedes are among the country’s most giving people, providing around one percent of their annual gross domestic product to humanitarian assistance projects. As a rising number of refugees, who now represent 10percentage percent of the community, are allowed into Swedish borders, the society will continue to be diverse.
Final Verdict:
As a result, these nations are the richest in the world. Revenue, PPP Per Capita, and demographics all have a role in a country’s ability to rank among the top ten wealthiest in the globe. Regions with real GDPs of above 15 trillion dollars, such as the United States and China, have a small wealth distribution per capita due to their large populations.
