Money can't buy happiness ... can it? The truth behind the saying
The Top 10 Richest Countries in the World (by GNI per Capita, Atlas Method, current US$ - World Bank)
1. Liechtenstein - $116,440
2. Switzerland - $84,310
3. Norway - $78,180
4. Luxembourg - $73,500
5. United States - $64,530
6. Ireland - $64,150
7. Denmark - $63,070
8. Iceland - $62,420
9. Qatar - $56,210
10. Singapore - $54,920
It's important to note that GNI does not completely filter out all international financial interactions. It just helps to right-size the profits. For example, although their numerical values have changed, notable tax avoidance destinations Ireland, Liechtenstein, and Switzerland are all still in the top 10. What's more, if the list above were expanded to include territories as well as countries, several of the British Overseas Territories would rank extremely high, with Bermuda ($117,740), Isle of Man ($83,160), the Cayman Islands ($68,200), and the Channel Islands ($66,220) all ranking in the top 10. All four are well-known tax havens with tiny populations, so the profit from even just a few multi-billion-dollar financial maneuvers can significantly elevate per-capita GNI.
Luxembourg
The European country of Luxembourg has been classified and defined as the wealthiest country in the world. These findings are based on the gross domestic product per capita values of the countries. The GDP per capita is calculated by dividing the country's total GDP by the population size, with the result being the GDP value per capita within a country. The GDP value per capita of a country is an excellent way of measuring a country's wealth because it considers the standard of living. By taking the GDP per capita of a country and comparing it to the GDP per capita of another country, you'll be able to accurately determine which country is more prosperous than another, with a few other factors being taken into consideration as well. Looking at Luxembourg in particular, the GDP per capita reached a chart-topping $131,300 US$ in the October 2021 report.
Ireland
The GDP per capita of Ireland is $102,390 US$ in October 2021. For reference, Ireland's GDP in 2017 was $70,220 US$. So things are definitely looking up in Ireland—however, the country is another notorious tax haven, so perhaps the average Irishman hasn't found the pot of gold at the end of the rainbow after all.
Switzerland
Switzerland is yet another of the top five wealthiest countries based on its GDP per capita, which sat at a very notable $93,520 in October 2021.
Norway
With an October 2021 GDP per capita of $82,240 US$, this country is not only one of the top five richest worldwide, it's the only one not also considered an international tax shelter.
United States of America
Considering the lengths many large U.S. corporations go to hide their own profits in overseas tax shelters, it may be surprising to learn that the United States is itself considered a tax haven by many financial watchdog groups. However, many national and state-level regulations enable international clients to move their money through U.S.-based accounts while incurring minimal taxes.
Here are the 10 richest countries in the world:
1. United States - $1.08 Tn
2. Germany - $215.02 Bn
3. Japan - $211.51 Bn
4. France - $148.94 Bn
5. United Kingdom - $130.68 Bn
6. Italy - $113.03 Bn
7. China - $89.65 Bn
8. Canada - $87.89 Bn
9. India - $59.60 Bn
10. Australia - $45.19 Bn
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