Ireland is actually on it because there's so many shell companies that funnel their money through Ireland. The number in inflated because of it, and the real GDP is much less.
Were Vatican open and honest about their finances, they'd be topping the list. After all, the Catholic Church is the financially largest 'corporation' after the Mafia, which only surpassed them last year.
^ Hadn't heard about this new discovery. That's interesting. The country is so tiny, where else could they look? Drilling further down?
Bahrain used up its oil reserves quite a while ago. The country now has a Russian vagina based economy. There are quite a few lower-class neighborhoods around the small island and even in Manama. They are not as wealthy as their Gulf neighbors. But not quite poor, either.
not a typo. Though last time I was there just a couple months ago I found out that some of the most famous and often-visited RV emporiums in Hoora had been shut down or repurposed, so maybe they're looking to diversify.
It's more to do with the very low population density, the population still hasn't recovered to where it was before the Irish famine, but the country is still doing very well financially.
It's primarily because of foreign investment - many major companies set up their European HQ in Ireland because of low corporation tax. So the per-capita income is actually a lot higher than the average wage.
What is this information based on? What things have been taken into account? Free education, health care level and the costs, maternity and paternity leave...
The income per capita is simply a countries GDP divided by the population. There's data for almost every country so it's easy to compare and rank. But of course it doesn't say anything about living standards.
GDP per capita is not simply about the median income or living standards of a particular country. While this is a very good, consistent and numerical way of comparing almost all countries, results can be heavily skewed by a small group of super-rich people or by the operation of large corporations in that country (such as in Ireland). Just because a nation has a high GDP does not necessarily mean that this filters down equally to its constituents and in an opposite way, nations that have quite good living standards may be omitted from the list as they don't have the rich individuals and corporations to boost their GDP
Why is 'Saudi Arabia' quoted at $55,300 here, when in the 'Focus Economics' listing it is given as $23,536. The rest of the figures seem about the same?
So Germany has dropped off the list since the reset. I can't believe at least a few of the countries on this list being ahead of Germany in per capita GDP.
I think the first time I did this quiz Australia was in the middle. They slip a couple of places every time. Now we are the last position. Time to say farewell...
Norway is the first country on the list where the wealth is based on a substantive and real economy.
The others before her are either harbours for moneymovers, with an oversized financial sector, or clan-based countries totally dependent on petroleum revenue. Ireland is, unfortunately, in the first category.
Norway would probably be even with the other Nordic countries if it wasn't for it's oil though. In terms of actual economic productivity I'd say 1st place in Europe should go to the Dutch.
As of 2020, the US is outranked by eleven countries. Six of these gain a significant amount of revenue from being tax havens (Monaco, Liechtenstein, Luxembourg, Singapore, Ireland, Switzerland). The other five all rank in the top six countries in terms of oil production per capita (Qatar, Brunei, UAE, Kuwait, Norway). Furthermore, the most populous among these is UAE which ranks 93rd in population among all countries. The combined populations of these eleven countries represent 0.54% of the world population, while the USA itself has 4.21% of the world population.
I knew Ireland was better off than the UK, but I'm amazed to discover it's more than TWICE as rich. As for Brunei, if you take one particular person's portion of the GDP out, I'm sure the country drops off the list entirely.
It does not tell the full story. This is GDP per capita and due to being a bit of a tax haven, Ireland is home to many major global corporations, including Facebook, Apple, Google and many pharmaceutical companies and obviously they boost the GDP by a lot. An ordinary Irishman is not that much richer than an ordinary Brit.
General reply to at least 70% of comments (maybe): Gini coefficient. When you separate the countries on the list by greater/smaller Gini coefficient, it tells you most of what you need to know.
Now why does this quiz have to be color-coded by continent? Figuring out which continents are gonna have countries here is half the fun of taking the quiz, if not more!! I swear, I've been on this website for more than ten years, and it'll always have a special place in my heart, but the way you guys are dumbing things down more and more is really getting to me. It's an unfortunate thing, and you guys should stop doing it!!
I had no idea either, but took a guess to get it right.
"Guyana's GDP per capita is rapidly increasing due to oil production, which began in 2019 and reached 278,000 barrels per day (bpd) in 2022. The country is expected to remain one of the fastest growing economies with double-digit growth rates in 2023 and 2024 as additional oil fields start operation."
Not just that, but the oil is light sweet crude oil, which is just about the jackpot you can get when it comes to that stuff.
I'm not super knowledgeable about it, but I believe it has VERY low amounts of sulphur, which takes a lot of energy, time, money, & infrastructure to remove AND which compromises on the amount of byproducts that can be created.
TLDR: Basically less sulphur = less costs, more products
Sidenote: My English teacher two years back used to work in Aruba and he said the all the refineries there were based around very sulphurated Venezuelan oil.
It's projected that the (PPP) GDP per capita is 144,160 in 2028 making Guyana the second richest country in the world. That's 1033% increase from 2018-2028 thanks to the oil find.
It's a South American country north of Brazil and I'm almost certain it shouldn't be on this list because Guyana's GDP/capita is nowhere near 80 000 USD, it's closer to 20 000 USD.
And know we know why Venezuela who has absolutely no legitimate claim wants to annex 2/3rds of Guyana. Another booming economy that they would love to destroy.
Their "claim" is just a technicality from many years ago. And it existed well before Guyana's economy skyrocketed. Maybe you should do some research before you make claims like that.
It was settled 120 years ago and 3 of the 5 members of the arbitration board wanted to give them the territory up to Orinoco. For the sake of unanimity they settled on the current boundary. Every appeal/dispute since then has ruled in favor of Guyana.
Is that why life on Nauru is better than in Australia, and in Haiti than in Canada? This pattern can sometimes be noticed, but this doesn't mean that it is the cause
I have never prayed for a distant country as much as for Guyana. God grant that everything works out for this tiny country, they have a lucky ticket, let them use it properly.
Bahrain used up its oil reserves quite a while ago. The country now has a Russian vagina based economy. There are quite a few lower-class neighborhoods around the small island and even in Manama. They are not as wealthy as their Gulf neighbors. But not quite poor, either.
Is that a typo? Or do I not understand the reference.
I doubt that.
Unfortunately.
Now this does not clear the whole truth.
Roosa
The others before her are either harbours for moneymovers, with an oversized financial sector, or clan-based countries totally dependent on petroleum revenue. Ireland is, unfortunately, in the first category.
In other words, USA NUMBER ONE!
Seriously, though, instead of raising taxes on regular people, the U.S. needs to find a way to stop these tax-dodging megacorps like Apple and Google.
"Guyana's GDP per capita is rapidly increasing due to oil production, which began in 2019 and reached 278,000 barrels per day (bpd) in 2022. The country is expected to remain one of the fastest growing economies with double-digit growth rates in 2023 and 2024 as additional oil fields start operation."
https://www.worldbank.org/en/country/guyana/overview
I'm not super knowledgeable about it, but I believe it has VERY low amounts of sulphur, which takes a lot of energy, time, money, & infrastructure to remove AND which compromises on the amount of byproducts that can be created.
TLDR: Basically less sulphur = less costs, more products
Sidenote: My English teacher two years back used to work in Aruba and he said the all the refineries there were based around very sulphurated Venezuelan oil.
Blue - Europe
Red - Asia
Purple - Africa
Orange - North America
Green - South America
Oceania - Probably light blue
And I know guyana's economy just doubled which is impressive...but its GDP per capita is still only 18.000...not 80,000
(Incoming corruption soon.)