5 Countries With The Highest Incomes
5 Countries With The Highest Incomes
The United States may be the richest country in the history of the world overall. But there are lots of countries with higher GDPs per capita. For the most part, these are small but very wealthy nations. Let’s take a look at the 5 countries with the highest incomes.
For reference, America’s GDP per capita is about $59,500.
5. Bermuda
GDP per capita: $99,400
Photo by Sandra Seitamaa on Unsplash
Somewhat surprisingly, Bermuda has the highest GDP per capita in the western hemisphere. Tourism from North America is one reason, accounting for about 28% of the island’s economy. But the main reason is that Bermuda has become a hub for offshore financial services.
4. Luxembourg
GDP per capita: $106,300
Image by Pit Karges from Pixabay
Luxembourg was once rich because of its coal deposits. When that went out of fashion, this small low country transitioned to a service economy. Specifically financial services. Today, Luxembourg is famous for its laissez-faire banking.
3. Monaco
GDP per capita: $115,700
Photo by Julien Lanoy on Unsplash
Monaco is a city state on the Mediterranean coast, surrounded by southern France on three sides. It is most famous for its capital -- Monte Carlo. Monaco’s reputation of seaside decadence -- and its loose tax laws -- have long attracted the well-to-do. In fact, about 30% of Monaco’s residents are millionaires.
2. Qatar
GDP per capita: $124,500
Image by Konevi from Pixabay
Qatar lands on this list for reasons you can likely guess. Firstly, it has a relatively small population. Secondly, it has some of the world’s largest deposits of oil and natural gas.
1. Liechtenstein
GDP per capita: $139,100
Photo by Oliver Schwendener on Unsplash
A big reason Liechtenstein makes this list is because it is so small -- about 32,000 people. But, like some other countries on this list -- it has learned to punch above its weight by embracing no-questions-asked banking.
Thanks for reading about the countries with the highest incomes!
READ MORE
So, you're 70 and your 401(k) still looks like a ghost town? Turns out, you're part of a surprisingly crowded club that nobody talks about at dinner parties. Life has this annoying habit of eating up every dollar you planned to save, especially when inflation’s on a rampage. But don't count yourself out just yet. There’s still time—and plenty of smart, doable ways to get started.
Once-valuable treasures can lose their shine as trends fade. There are so many "vintage" items that now serve as relics. Check out how once-prized collectibles became surprisingly worthless, and let us know if you agree.
This month, Amazon was served a major safety citation after federal investigators found multiple of its warehouses operating under unsafe work conditions.
Whether it’s pure nostalgia, obsession, or just plain curiosity, these bizarre items prove that, at the right auction, anything can become a treasure.
Renting out your basement on Airbnb to tackle credit card debt might seem like a practical solution. But keeping it a secret from your spouse is never a good idea. It's their home too. Before panic sets in, step back and evaluate your motives, the risks, and the road ahead. There are thoughtful ways to resolve this honestly and constructively—without blowing up your relationship.
A perfect smile doesn't have to be expensive. Find out how to get affordable dental implants near you with these simple tips.
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
Dear reader,
It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.
Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!
Warmest regards,
The Moneymade team
Photo by Sandra Seitamaa on Unsplash
Image by Pit Karges from Pixabay
Photo by Julien Lanoy on Unsplash
Photo by Oliver Schwendener on Unsplash
