Top 10 richest countries by GDP per capita in 2023
According to a report by Visual Capitalist, the world’s GDP per capita is predicted to increase in 2023. The current GDP per capita is $13,920, which is $520 higher than in 2022. However, despite this overall increase, wealth inequality between countries remains high.
Luxembourg tops the list of the richest countries by GDP per capita in 2023. This small country with a population of only 634 thousand people boasts a GDP per capita of $128,820. This is due to the development of the financial sector, which currently makes up the majority of Luxembourg’s economy.
Table: Top 10 Countries with the Highest GDP per Capita in 2023
|Rank||Country||GDP per Capita|
Ireland comes in second place, with a GDP per capita of $106,998. This country has become a leader in economic growth thanks to its attractiveness to foreign investors and high level of education among its population. However, the growth of this indicator is not only due to an attractive business environment and a low corporate tax rate, but also to the attraction of foreign investment thanks to a highly skilled workforce. Today, Ireland is one of the centers of technological development and innovation.
Switzerland takes third place, with a GDP per capita of $94,835. This country not only attracts tourists from around the world thanks to its beautiful nature and cultural attractions but is also known for its developed financial and banking sector, including large pharmaceutical and watch manufacturing industries.
Next on the list are Qatar ($89,417), Norway ($88,749), Singapore ($84,501), the United States ($78,422), Iceland ($77,961), Australia ($68,024), and Denmark ($66,394).
It can be concluded that most of the most prosperous countries with high GDP per capita are located in Europe and North America. Currently, these are the most prosperous continents in the world with GDP per capita of $34,500 and $59,000, respectively. On the other hand, Africa remains the poorest region. GDP per capita is an important indicator of a country’s economic well-being and its citizens. However, it is important to consider that this indicator does not fully reflect all aspects of the economy, standard of living, and social protection of the population.