Whether big or small, there are a number of different ways to determine the wealth of a country.
One of the most common metrics to measure the world’s richest countries is GDP per capita, which breaks down the total economic output of a country divided by its population. This figure is then used by economists to analyse the prosperity and productivity of a country.
According to the International Monetary Fund, which analyses global economic developments, Luxembourg is the richest country in the world for 2024 based on GDP per capita in US dollars.
While it isn’t always the case - as our list of the world’s top 15 richest countries shows - small countries with developed economies tend to have the highest GDP per capita.
But with nations such as the United States also making the cut, here are the 15 richest countries in the world.
9. Macao SAR – $78.96 thousand
Macao, a special administrative region of the People’s Republic of China, is among the world’s wealthiest countries with a GDP per capita of $78.96 thousand and a population of around 686 thousand people. | Mirko - stock.adobe.com
10. Denmark – $68.9 thousand
Another small country with a large GDP per capita of $68.9 thousand, Denmark has a long history of innovation and is currently the ninth richest country in the world. | Ritzau Scanpix/AFP via Getty Ima
11. Australia – $66.59 thousand
One of the larger countries to be included in this list is Australia, which boasts a GDP per capita of $66.59 thousand and a population of more than 25.69 million. | AGPhotography - stock.adobe.com
12. Netherlands – $63.75 thousand
Another European country to be included among the world’s richest countries is the Netherlands. With a population of more than 17 million people, the country’s GDP per capita for 2024 is estimated at $63.75 thousand. | Rawf8 - stock.adobe.com