Hey, today I was looking for the top 10 wealthiest countries in the world, and I found myself living in the world third wealthies country OH YEAH! how lucky am I I think 99.9% of you guys don't know this country it's called Qatar, and it's really small country but still one of the wealthiest countries.. I've just posted this thread because im really surprised..
if its gdp.. then us would be no.1 and japan might be no.2 however i said the wrong word..i must have said per capita income the total gdp of the country divided by its population
I've heard of Norway but I've never heard of Qatar and LUXEMBOURG. I wonder what other countries are on the top 10 list.
The richest countries in the world are those with a high GDP and no debt. This is the main reason major countries such as the the US or UK are not on that top ten list. They have higher GDP but debts are often through the roof which negates all their positive values.
I don't really admire how wealthy a country is but how well the country's wealth is spread out. If 99% of the wealth is controlled by 1% of the population, it can be the wealthiest, but I would deem it as a failure. On the other hand if wealth is spread out evenly with a huge middle class population, should the country not be in the list of wealthiest nation, it is still much better.
I suppose it is based on per capita income of a country. You guys are floating on petroleum an the price of crude oil has skyrocketed so your national income has gone up. Congratulation.
BTW IMHO I think PPP is a better way of comparison, I am not sure of of Qatar and Luxembourg but the cost of living in Norway is quite high, standard of living wise is correspondingly lowered as a result.
Could you post the entire list, I would be interested to see where Switzerland, etc ranks in per capita income. A while back i checked and the lowest per capita income in Europe was Albania
It doesn't really matter. As long as the people are generally poor what difference does it make? It's a small percentage of the entire population that makes the average go up. A rich country is one where everyone has a job and can survive on it.