Gizane Campos
What makes a country the richest in the world?
When people ask, “What are the richest countries in the world?”, it’s important to know there isn’t just one way to measure wealth. Economists look at several key indicators, including:
- Nominal GDP: Gross Domestic Product (GDP) measures the total value of all goods and services a country produces. Nominal GDP shows the overall size of an economy. For example, the United States and China have the largest economies in the world by this measure.
- GDP per capita: This divides a country’s GDP by its population, showing the average wealth per person. Smaller countries like Luxembourg and Singapore often rank highest because their wealth is shared among fewer people.
- GDP (PPP): GDP adjusted for Purchasing Power Parity (PPP) accounts for differences in living costs. It shows how much people can actually buy with their income compared to other countries. Qatar and the United Arab Emirates often rank higher when measured this way.
- National net worth: This is the total value of assets owned by a country’s residents, such as real estate and investments. Switzerland and the United States are among the leaders in national wealth.
- Human Development Index (HDI): HDI combines income with health and education to measure quality of life. Countries like Norway and Ireland rank high both in GDP per capita and HDI, showing a link between economic wealth and well-being.
- Natural resources and economic diversification: Resources like oil and minerals can boost national wealth, as seen in Qatar and the UAE. But countries with diverse economies, strong education, and advanced technology often achieve more stable, long-term prosperity.
According to the Global Citizen Solutions’ Global Intelligence Unit, national wealth, GDP and the Human Development Index are three critical factors that determine the strength and attractiveness of a country’s citizenship and residence options. It also helps strengthen a passport’s power.
All of the above provides a more complete picture of why the wealthiest or largest global economy can’t always be measured only by GDP.
Top 10 Richest Countries by Nominal GDP
Nominal Gross Domestic Product (nominal GDP) is one of the most widely used measures to rank the richest countries in the world.
This figure represents the total monetary value of all goods and services produced within a country’s borders over a specific period. Keep in mind it has not been adjusted for inflation or cost of living.
Nominal GDP is a key indicator of its global economic influence, trade power, and financial capacity, as shown by its overall size.
For example, even though the United States does not have the highest GDP per capita, it consistently leads the rankings as the world’s largest economy by nominal GDP. Similarly, China, the second-largest economy, has rapidly expanded its output due to industrial growth and technological development.
It’s important to note that ranking by nominal GDP highlights total economic output, rather than average wealth per person. This is why populous nations with large production and consumption, such as India and Brazil, appear in this list despite lower GDP per capita compared to smaller high-income countries.
The following table showcases the top 10 richest countries in the world by nominal GDP in 2025, based on the most recent International Monetary Fund (IMF) and World Bank data:
Rank | Country | Nominal GDP | Share of Global GDP | Notes |
1 | United States | $28.0 T | 24% | Largest economy by output |
2 | China | $21.0 T | 18% | Manufacturing and tech powerhouse |
3 | Japan | $5.0 T | 4% | Advanced technology sector |
4 | Germany | $4.8 T | 4% | Europe’s largest economy |
5 | India | $4.5 T | 3.8% | Fastest-growing major economy |
6 | United Kingdom | $3.8 T | 3.2% | Strong financial services industry |
7 | France | $3.6 T | 3.1% | Diversified industrial economy |
8 | Italy | $3.0 T | 2.5% | Major manufacturing and exports |
9 | Brazil | $2.5 T | 2.1% | Leading Latin American economy |
10 | Canada | $2.4 T | 2.0% | Rich in natural resources |
Top 10 Richest Countries by GDP Per Capita
Per capita is a Latin term that means “by the head.” In economics and statistics, it describes the average figure per person.
When discussing the richest countries in the world, per capita typically refers to either average net worth per adult or income earned per person in a given nation or region.
Per capita income is crucial for measuring standards of living and purchasing power parity (PPP), allowing organizations like the United Nations to evaluate quality of life.
Because wealth is divided by population, large economies such as Germany or the United Kingdom have a substantially lower average wealth per adult than smaller financial hubs. This is why countries like Luxembourg, Switzerland, and Singapore appear at the top of global rankings.
According to the UBS Global Wealth Report 2025, the United States currently has the largest number of millionaires—nearly 24 million, or almost 40% of the world’s total. China follows with over 6 million, while the United Kingdom, France, Germany, Japan, and Canada all have between 2 to 3 million millionaires
The top ten countries with the most average wealth in USD per adult is:
- Switzerland🇨🇭- $687,160
- United States 🇺🇸 – $620,654
- Hong Kong SAR 🇭🇰 – $601,195
- Luxembourg 🇱🇺 – $566,775
- Australia 🇦🇺 – $516,640
- Denmark 🇩🇰 – $487,558
- Singapore 🇸🇬 – $441,596
- New Zealand 🇳🇿 – $393,773
- The Netherlands 🇳🇱 – $370,697
- Norway 🇳🇴 – $368,410
Since the report series began 15 years ago, global wealth has declined only three times in USD terms: during the 2008 financial crisis, in 2015, and again in 2022. The most recent contraction was driven by simultaneous drops in equities and bonds.
Nevertheless, wealth has recovered, with North America and Eastern Europe leading gains. Meanwhile, the Asia-Pacific region has seen rapid wealth creation, accompanied by significant increases in household debt.
Top 10 Richest Countries in the World by Net Worth and Total Wealth
Also known as national net wealth, net worth refers to the overall value of a country’s assets minus its liabilities. These liabilities include external debt owed to foreign governments, international banks, and other creditors.
Measuring the net wealth of countries helps show how much economic power and financial security a nation holds at a given time. This factor is a critical component in evaluating sovereign credit ratings, as credit rating agencies analyze a country’s financial health and ability to meet its debt obligations.
National net worth reflects not only the size of a country’s economy but also the value of its real estate, financial assets, infrastructure, and natural resources. While metrics like GDP per capita and GDP (PPP) measure income and output, total net wealth shows the accumulated assets that contribute to long-term prosperity.
According to the most recent data compiled by UBS and Credit Suisse, the richest countries in the world by total net worth are:
- United States 🇺🇸 – $145,800B total wealth (2022)
- China 🇨🇳 – $84,485B total wealth
- Japan 🇯🇵 – $22,582B total wealth
- Germany 🇩🇪 – $17,426B total wealth
- France 🇫🇷 – $15,989B total wealth
- United Kingdom 🇬🇧 – $15,972B total wealth
- India 🇮🇳 – $15,365B total wealth
- Canada 🇨🇦 – $11,263B total wealth
- Italy 🇮🇹 – $11,020B total wealth
- South Korea 🇰🇷 – $9,890B total wealth
What makes these countries the wealthiest by net worth?
The United States holds the top spot as the wealthiest country in the world by net worth, driven by a combination of factors:
- A large and diversified economy with advanced industries ranging from technology to healthcare.
- Strong rule of law and property rights that protect individuals’ ability to accumulate wealth.
- The US dollar’s role as the world’s dominant reserve currency, which allows the country to borrow at lower interest rates and maintain global financial influence. Many of the best banks in the world, including major institutions in Europe, Asia, and the Middle East, hold substantial reserves in US dollars and offer dollar-denominated products to clients, reinforcing the currency’s central role in global finance.
China, the world’s second richest country by net wealth, has continued to close the gap thanks to:
- A large population with growing household wealth.
- An export-oriented economy built on manufacturing electronics, textiles, and machinery.
- Expanding real estate and infrastructure investment.
Other nations on this list have built their wealth through different strategies:
- Japan, Germany, and South Korea are leaders in high-tech industries, automotive production, and advanced manufacturing.
- France and the United Kingdom have extensive financial services and diversified economies.
- India has seen rapid growth in both the number of affluent households and the value of its domestic assets.
Meanwhile, countries in the Middle East like Saudi Arabia, Qatar, and the United Arab Emirates, though not in the top ten by total net worth, are among the richest countries in the world by GDP per capita, thanks to their vast natural resources, especially oil and gas reserves.
Other smaller economies, including Luxembourg and Singapore, frequently appear in rankings of the wealthiest countries per capita due to their strong financial sectors, favorable tax policies, and high-value industries.
National net worth and global influence
Countries with high net wealth often:
- Have greater resilience to economic shocks, as their diversified asset base can support stability during downturns.
- Attract more foreign direct investment, reinforcing their status among the richest countries in the world.
- Play an outsized role in global finance and policymaking, in part because their currencies and banking sector or systems are trusted worldwide.
This is why understanding national net worth is essential for anyone comparing which nations are truly the wealthiest countries in the world, not only in terms of economic production but also in the resources and assets they hold.
Many of the world’s richest countries offer Citizenship by Investment programs that combine economic opportunity with greater global mobility.
Beyond GDP: Top Countries for Quality of Life and Social Progress
Top countries by quality of life
Based on the Global Passport Index Quality of Life pillar, which uses metrics like environmental sustainability, the cost of living, infrastructure, and personal and political freedoms to determine a passport’s power, here’s the top 10 rankings:
Rank | Country | Global Education Report Score |
1 | Sweden | 88.5 |
2 | Finland | 87.1 |
3 | Germany | 83.3 |
4 | Denmark | 83.1 |
5 | Spain | 81.9 |
6 | Portugal | 81.4 |
6 | The Netherlands | 81.4 |
8 | Norway | 81.3 |
8 | United Kingdom | 81.3 |
10 | Luxembourg | 80.8 |
Top countries by social progress
Based on statistics from the Human Development Index, a statistical composite of life expectancy, schooling, and per capita income indicators, here’s how countries fare on social progress:
Rank | Country | Human Development Index Score |
1 | Iceland | 0.972 |
2 | Norway | 0.970 |
2 | Switzerland | 0.970 |
4 | Denmark | 0.962 |
5 | Germany | 0.959 |
5 | Sweden | 0.959 |
7 | Australia | 0.958 |
8 | The Netherlands | 0.955 |
8 | Hong Kong SAR | 0.955 |
10 | Belgium | 0.951 |
Frequently Asked Questions about the Richest Countries in the World
What are the richest countries in the world in 2025?
The richest countries in the world in 2025 are ranked by a combination of nominal GDP and GDP per capita.
The United States leads in total nominal GDP, while Luxembourg, Singapore, and Ireland consistently rank highest in GDP per capita.
Other wealthy nations include Qatar, Switzerland, Norway, and the United Arab Emirates.
Which country is the richest in the world by net worth?
Measured by national net worth per adult, Switzerland often holds the top spot due to high levels of private wealth, advanced financial services, and a stable economy.
The United States has the largest total net worth globally because of its large population and diversified economic base.
What is the difference between Nominal GDP and GDP per capita?
Nominal GDP measures the total economic production of a country without adjusting for inflation or purchasing power.
GDP per capita divides this output by the population, reflecting the average wealth per person. Smaller nations with strong economies often lead in GDP per capita rankings.
Which country has the highest GDP per capita in 2025?
Luxembourg holds the highest GDP per capita in 2025, benefiting from a thriving financial sector, high productivity, and a small population.
Is the United States still considered the richest country in the world?
The United States remains the world’s largest economy by nominal GDP and total national wealth. However, it does not top the rankings in GDP per capita, where smaller nations typically outperform due to high income individuals being more concentrated.
How does China rank among the richest countries in 2025?
China ranks second globally in nominal GDP, reflecting its massive industrial output and economic growth.
However, its GDP per capita is lower than that of many smaller high-income economies due to its large population.
Which European countries are in the top 10 richest by GDP per capita?
Luxembourg, Ireland, Switzerland, Norway, and Denmark are among Europe’s richest countries when ranked by GDP per capita.
These nations combine high productivity, strong financial sectors, and solid human development indicators.
What is purchasing power parity (PPP)?
PPP is an economic method that compares the buying power of different countries by adjusting for differences in cost of living.
It shows how much money would be needed to buy the same basket of goods and services in each country, making it easier to compare living standards and real income across nations.
What is the richest country in the world adjusted for purchasing power parity (PPP)?
When adjusting for purchasing power parity, Qatar often emerges near the top, reflecting high income levels relative to local cost of living. Other top contenders include Luxembourg, Singapore, and the UAE.
