Ever wonder which countries are the wealthiest in the world? This data was taken from Global Finance Magazine. They based the wealth of a country on the GDP, or “Gross Domestic Product”. This is the amount of goods and services that are provided within a country that are generating income. Here at SelfMade, we have also gone through each of these countries to talk about why each of them is so rich, and what the quality of life is like, as well as their GDP.
Its number one export are “integrated circuits”, which are microchips used in computers. If you go to visit, they have beautiful beaches, national parks, and great food.
Located in the West Indies, Trinidad and Tobago are two islands that come together to form one country. They export natural gas, and they also make a lot of money from tourists coming to have a vacation in the Caribbean.
Its main exports are petroleum, vehicles, and automobile parts. Portugal is famous for having great wine, and they have some amazing site-seeing opportunities like river cruises, historic sites, and cycling trips.
The main product that they export is transmission apparatuses for radios and TV. The capital city of Budapest has loads of historic buildings, and tons of sights to see. They also have great wine tastings, castles, and national parks that you can visit.
Poland is considered to have one of the fastest-growing economies in the European Union. They have low unemployment, and the largest banking system in central and eastern Europe. If you decided to visit Poland, check out the city of Krakow. They are famous for their beer and fine chocolates. You can also see some of the famous historic sites.
As we all know, the Bahamas are a famous tourist attraction, because of the beautiful crystal-blue water and their sandy beaches. The runner-up in the national economy are the financial businesses like banks. In the case of the Bahamas, there is no shortage of things to do once you get there. Go sailing, visit the beach, and so much more.
The nation of Estonia has almost no public debt, low unemployment, and flat-rate taxes. They offer a lot of e-commerce and banking services as their main forms of income, but the sources of the nation’s wealth widely varies. When you go to visit, Estonia has a beautiful art museum, and walking tours of the historic buildings.
The top three industries are service, industry, and agriculture. Take a hot hair balloon over the Old Town of Vilnius, go on a pub crawl, or check out the old Soviet buildings left over from when the USSR had taken over the country.
In 2018, the unemployment rate in the Slovak Republic was just 5%. They have low taxes, and a well-educated labor force. Their top export is cars, vehicle parts, and video displays. If you got there on vacation, you can get a guided tour through Vienna, and go on wine tastings.
The top export being sold out of Slovenia is vehicles, but there is a huge variety of products from a variety of industries. The country has beautiful national parks, and there are plenty of walking tours that you can go on.
The Czech Republic is considered to have one of the most flourishing economies in all of Europe. Their exports rely heavily on vehicle manufacturing, and industry accounts for 37.5%. The entire country has beautiful castles that you can visit, and the city of Prague is great for pub crawls and guided tours.
Most people in Israel have a college education. Their agricultural industry is so strong, that the country is self-sustained with their food. They mostly export diamonds, mechanical products, and raw materials. Travelers can visit some of the famous Christian and Jewish historic landmarks when they visit, or eat some delicious foods at one of the many restaurants.
Aruba is a famous vacation spot for people who want to soak up some sun at the beach and relax. Even though tourism truly is one of their biggest businesses, the number one export is petroleum, and they also produce alcohol and cigars.
Pretty much everyone knows that Italy is one of the greatest places in the world to eat good food, relax, and visit gorgeous sites. Italy is also in the top 10 countries with the highest quality of life. Its main exports are automobiles, fashion, and machinery.
Puerto Rico is a gorgeous nation that is apart of the United States, but is still considered its own independent economy. Manufacturing takes up 46.3% of the nation’s exports. If you go to Puerto Rico to visit, you can visit the beach, eat delicious food at restaurants, and so much more.
Since the 1880’s, New Zealand became a major exporter of meat and produce to England. Some of the major industries in New Zealand are sealing, whaling, flax, gold, and timber. For English speakers, New Zealand is a great place to go. If you visit, you can see all of the breathtaking natural scenery.
Spain has significant investments in renewable energy and technology. It is also home to the 8th largest automotive industry in the entire world. For anyone who wants to visit Spain, there is plenty to do. The city of Barcelona has some famous architecture, and it also has delicious food.
Cyprus is considered to be a “bridge” nation between the East and the Western worlds, so it has become a place where many flights stop and go, as well as travelers on their way across the globe. There is a huge industry of cargo and cruise ships, but their top exports are medicaments and petroleum. And, funny enough, they sell a lot of cheese! Since it is an island in the Mediterranean sea, you can go to the beach, cruise on a yacht charter, or relax in the sunshine.
South Korea is known for having a very good education system, and it therefore provides its citizens with plenty of white collar jobs. They export petroleum, photo equipment, and circuits. They are also well-known for manufacturing cars, like Mazda, and several tech companies, as well. The capital city, Seoul, has tons of entertaining things to do. You can see some of the older traditional side of the county by visiting the royal palace, or you can go into the city for delicious food and K-Pop concerts.
Japan is well-known for being one of the biggest tech capitals of the world. They made loads of money from video games and entertainment, but they also export vehicles, machinery, and lab equipment. If you go to Japan on vacation, there are loads of options for you to choose from, depending on your mood. You could climb Mt. Fuji, watch cherry blossoms in the spring, or enjoy night life in Tokyo.
Oman is a country in the middle east, and it exports petroleum, fish, metal, and textiles. Over the past 50 years, the economy has continued to grow larger and larger. It may not be the first place most Americans would think to go on vacation, but if you chose to go, you could visit a mosque, go for a hike, walk through the desert, and more.
The term “United Kingdom” covers several countries that are under the umbrella of the British empire. Top exports are pearls, gems, and precious metals. Of course, loads of tourists come and go from the UK on a daily basis, as well. Since there are several countries to choose from, it is difficult to recommend just one thing for a tourist to see.
France is the most visited country in the world, most likely because so many people consider Paris to be a destination so many people have on their bucket list. This brings in loads of tourist dollars, of course. But they also export machinery, aircrafts, and more. And, of course, people love French wine. Since France is such a large country, there is a lot to do. You could choose to visit the South of France and stay in a chateau, or stay in the bustling city of Paris for romantic night life.
Finland exports electrical and optical equipment, machinery, transportation, metal, and more. One of the most famous tourist attractions in Finland is the Santa Clause village. If you have young kids, check it out, because it may be a once-in-a-lifetime vacation.
The island of Malta may be small, but it is a paradise. It is warm all year round- Even in the winter, it really only goes down to 60 degrees Fahrenheit. The majority of the people speak English, and there is a lot of trade going on in-between locations in Europe. They export electrical machinery, minerals, and more, but a lot of their income is from tourism and trade dollars.
Years ago, Belgium was one of the first European countries that embraced the industrial revolution, so this gave them a huge advantage compared to many other nations. Today, Belgium exports machinery, chemicals, and diamonds. If you go there on vacation, there are several famous castles and cathedrals that you can visit.
Ahh, good old Canada. Home of some of the friendliest people in the world, Canada’s #1 export is crude oil, with automobiles and gold coming next in line. Two of the biggest cities are Toronto and Vancouver, and it is also home to the famous Niagara Falls in Ontario.
The middle eastern country of Bahrain exports petroleum, aluminum, and textiles. They are also very heavily invested in the banking industry, and rely on tourism dollars, as well. If you go to visit, there are several museums and mosques. If you are looking for some fun, check out the Last Paradise of Dilmun Water Park.
Surprisingly, the top export coming out to Denmark is pig meat. They also export petroleum, and malt extract. Denmark has several museums, palaces, and historic landmarks. It is also home to the world-famous Little Mermaid statue.
Australia is a very large country, and it exports iron ore, coal, petroleum gas, wheat, and so much more. If are reading this article, it means you speak English. So you’ll fit right in if you go Down Under. Visit the Sydney Opera House, the beaches, and so much more if you go to Australia.
Austria has a diverse economy, and they export motor vehicles, car parts, paper, metal, steel, and more. It is home to museums that house some amazing artwork, and it also has gorgeous mountains. The cost of living in the city of Vienna is cheap compared to many other countries, and as an added bonus, they also have great food and wine.
Germany is home to the luxury car manufacturing company Mercedes, as well as Volkswagen. Because of this, they are the world’s third-largest exporter of cars. It is also home to some of the wealthiest companies in the world. If you go to visit Germany, there is a lot to do. You could drink beer during Octoberfest, visit a castle, and so much more.
Timber, hydropower, and iron are the top three industries in Sweden. They are also home to the car manufacturing company Volvo, so they import their vehicles to other countries every year. If you ever decide to visit Sweden, you can eat delicious food, visit museums, and go on a walking tour to see all of the historic buildings in Stockholm.
In the later half of the 20th Century, Taiwan had a huge boost in the nation’s economy. It was so delightfully unexpected, that it was known as the “Taiwan Miracle”. Today, their economy is very diverse, and their #1 export is circuits. If you go to visit, you can see the National Palace Museum, or visit one of the many national parks.
Over 85% of Iceland’s energy comes from natural resources, so citizens save tons of money. The fishing industry provides loads of affordable food, and it also accounts for 40% of the nation’s income. The Icelandic government is trying to encourage more people to visit by offering cheap flights, which made their tourism industry more popular. If you go to visit, you can see an active volcano, take a dip in the hot springs, and take in the beautiful nature around you.
Saudi Arabia is considered to be the largest exporter of petroleum in the entire world. So, as you can imagine, they have a ton of money. However, there was an “oil boom” that has since declined since 2014. Unfortunately, Saudi Arabia does not give tourist visas, and many would advise that you do not visit the country, because of the frequency of terrorist threats.
The Netherlands, also know as Holland, exports natural gas, fish, and more. They generate a lot of free energy with their windmills, which helps to lower the cost for the average citizen. Tourism is also booming, because it is famous for being one of the most liberal places where people can go to smoke marijuana.
San Marino is not apart of the European Union, but it still uses the Euro as its main currency. Their major sources of income are banking, ceramics, and electronics. They also produce a lot of wine and cheese. (Yum!) If you go to visit, you can see one of the many beautiful castles.
The United States is considered to be the largest exporter of goods in the world, with automobiles being the #1 product sold to other countries. They are also famous for being the home of the New York Stock Exchange, which is seen as having a huge effect on finances around the world. However, what holds the US from having a higher spot on this list is the amount of debt that they owe to other countries, unemployment rates, and much more. If you visit the United States, it is so massive, there is an endless amount of possibilities as to what you can do.
Switzerland is always considered to be one of the wealthiest countries in the world per-capita, and it is often #1 in many categories. It is famous for having a massive banking industry. The average household in Switzerland makes a whopping $11,000 per month. And the country itself looks just as luxurious as you might imagine. If you go there to visit, most people enjoy skiing in the Swiss Alps, and you can also tour many of the cultural sites in the city of Geneva.
Hong Kong has the bragging rights of calling itself the place with the highest degree of economic freedom. There are loads of different types of businesses. Locals speak both English and Chinese, so people from all over the world live and work there. The top profitable businesses are eCommerce, fintech, software, and advertising. There is also a ton to do once you’re there. There is Hong Kong Disneyland, an ocean park, amazing food, and so much more.
Kuwait has become one of the wealthiest and fastest growing economies in the world, so much so that in 2018, they have been pushing to get foreigners to move to their country, because they need more labor to help run all of their booming businesses. A total of 56% of Kuwait’s economy is dependent on petroleum and crude oil, and 31% is from refined oil. So that is a total of 87% that is wrapped up in the oil industry. If you visit, they have a museum called The Scientific Center, a few malls, and a zoo.
More than 85% of the economy in the United Arab Emirates relies on the wealth that it gets from oil. It is one of the richest countries in the world. There are tons of things you can do for fun in the UAE. Some people drive SUV’s through the desert, ride jet skis in the harbor, and go skiing inside of the Mall of Emirates in Dubai.
The two biggest exports are in the oil industry. The first is 33% crude petroleum, and 24% petroleum gas, making over half of the country’s profits. Tourists who visit Norway can enjoy watching the Northern Lights, go on a sightseeing cruise, and visit some of the beautiful historic sites.
Ireland uses both the Euro and the pound. So, you would think that an economy with two types of money may not be the best place for booming business, right? Turns out they are doing just fine. Pharmaceuticals account for 32% of their exports, and a booming tourist industry that brings loads of money into the country.
Brunei is a Southeast Asian country where crude oil exports take up 90% of the nation’s economy. The country attracts businessmen from around the world to visit and exchange in the oil industry. Tourists who visit Brunei can see the Ulu Temburong National Park, tours of historic buildings, and delicious food.
The Index of Economic Freedom rates Singapore as the second-freest economy in the world. It has also been ranked as being one of the easier places to go business in the world. It is an incredibly wealthy city-state with a huge variety of industries, but the number one export is petroleum. If you visit, there is the famous Garden by the Bay, and the Marina Sky Park.
Luxembourg has a huge variety of exports, with steel being its number one. It has a reputation for being a tax haven, so millionaires from around the world are willing to invest in their banks. If you go to visit, there are a lot of beautiful historic castles to visit.
Macao makes most of its money on its casinos and tourism for people living in China. Macau City is a lot like Las Vegas. It is full of amazing artistic performances. They have new tourist attractions, like their own Eiffel Tower, but they also have traditional Chinese temples.
For years, Qatar was a very poor Middle Eastern country that mainly relied on money made from pearl diving. Today, petroleum and natural gas are the two leading exports in Qatar. And as we all know, the oil business is absolutely booming. If you go to visit, check out the Museum of Islamic Art, or visit their harbor called “The Pearl”, which has beautiful shops and restaurants by the sea.