Hey, welcome to our website which give all entertainment and facts articles and feed about the trending news. There are above 200 countries in the world, and they generate billions and trillions of revenue. To find out which country ranks on the top richest Countries in the World’s list, here is the article below.
Here are the Top 10 Richest Countries in the world:
10. Saudi Arabia: The Saudi Arabian economy is primarily oil-based with extremely strong governmental control on important economic activities. However this strenuous governmental control is not extended toward the country’s actual justice system. There is no actual legal code within the country. Instead the country designates individual judges who decide and enforce punishment of their choosing, which basis is grounded within Islamic Scriptures. This strange balance of power gives these judges limitless power, creating possibly the most inconsistent legal system on the planet. Although punishments should be based on said Islamic Scripture, often time’s punishments for crimes are just made up.
9. United States: The United States has the largest economy on the planet. However recent years have shown a decrease in economic ranking. The USA has been known as a country with vibrant entrepreneurial growth, but in recent decades, the growth has been hindered by expensive and intrusive governmental policies that range from categories such as energy to health care. Despite these hindrances, the United States has still been able to maintain a significant standing as one of the world’s wealthiest countries. Strangely, even though the US is the 9th wealthiest country in the world, approximately 40-50 percent of Americans are considered “low income” or living in poverty.
8. Switzerland: Switzerland is known for its skiing, clocks, chocolate, and neutrality. However, it is also known for having one of the most stable economies in the world. There are two important factors that lead to the country’s high economic livelihood: the country’s small size, and its high labor specialization. Furthermore, their economy benefits from strong protection of property rights and a very small tolerance for any political corruption. Interestingly, even though the country is known for being “neutral”, it has some of the most liberal firearm laws in the world and there are roughly 48 guns per 100 citizens in Switzerland.
7. Norway: The economy of Norway has had robust growth since the dawn of the Industrial Age. Norway’s economic growth has been primarily influenced by use of the land’s natural resources such as fisheries, hydroelectric power, and petroleum production. Not only is Norway are highly prosperous nation, it is also very safe. There is a mistaken notion that the Norwegian police do not carry firearms. However, they rarely actually use them. It is estimated that only 2 people have been killed by police in the last decade, and one of them was terrorist, Anders Breivik, in 2011.
6. United Arab Emirates: The United Arab Emirates economy is the second largest economy in the Arab world. However, the enormous profits from its oil refineries places the UAE 4 levels higher on the list of the world’s richest countries. The country’s extreme wealth is however almost entirely reliant on their lucrative oil refineries, which begs the question of how long these resources will last. However, the UAE’s wealth is not likely to change anytime soon, and much of the country lives in excess. A huge portion of super-rich UAE citizens actually own exotic animal from lion cubs being carried around in expensive handbags, to cheetahs riding around in luxury sports-cars. Speaking of sports-cars, the Dubai police force drives around in Supercars such as Lamborghini’s and Aston Martin’s.
5. Brunei Darussalam: Chances are you may not have heard of the Nation of Brunei that lies tucked away between the Malaysian state of Sarawak in the southeast region of Asia, but, the small country is one of the top five wealthiest countries on the planet! The economic boom that took place in Brunei happened relatively recently, during the last century when oil was discovered in the late 1920s near the Seria River. For such a prosperous nation, it is surprising to learn that the country only has one McDonald’s.
4. Kuwait: Kuwait has a thriving economy, but like several wealthy countries in the Middle East, it is primarily fueled by and dependent on its vast oil industry. The government has made several failed attempts to diversify and modernize the country’s economic structure but their oil industry has continuously dominated. This by no means is a negative thing however as Kuwait remains the 4th wealthiest country on the planet. In fact the Kuwaiti dinar, the main currency in Kuwait, is the highest valued currency in the world.
3. Singapore: Singapore ranks as the third wealthiest country on the planet, due primarily to its extensively advanced trade-oriented market. Its economy is also ranked as the most open economy in the world, one of the least corrupt, and the most pro-business. So just how wealthy is the nation of Singapore? Well, the fact that they have a $1000 bank note, most likely puts their massive wealth in perspective.
2. Luxembourg: The seemingly microscopic nation of Luxembourg is surprisingly the second wealthiest country in the world. The citizens of Luxembourg make on average double the salary of American citizens. The expansive private sectors and education are two of the primary reasons for the country’s impressive financial success. The country’s government debt is also the lowest within the Eurozone, and one of the lowest throughout the globe. A recent UN survey declared that you have less a chance to be shot in Luxembourg than in any other country on the planet. However that Luxembourg is the least populated country within Europe, this may not be too surprising.
1. Qatar: The energy rich Arab nation of Qatar, tops the list as the wealthiest country in the world. The cornerstones of Qatar’s economy are its energy sector, comprising of rich petroleum and natural gas resources. Their vast oil reserves will keep their country on top for at least the next 25-30 years, and likely longer. If ever visiting the country, be weary of complementing or admiring someone’s possessions. Qatari tradition dictates that a host should gift the said possession to the admirer.