Have you ever wondered which countries in the world are the wealthiest? How do researchers determine which countries get this title? One way it to take an average of how much money each person earns every year. Another method is by averaging how much money each person spends every year. If you’re fortunate to live in one of these countries, should you help people in poorer countries? Here’s a list all about the top 10 wealthiest countries in the world.
- Qatar, an Arab state in western Asia is the wealthiest country in the world. Over 14 percent of people are millionaires. People here have become wealthy through the production of oil and natural gas. However, many poor immigrant people live here too.
- The tiny country of Luxembourg is the second wealthiest country in the world. Luxembourg has very lenient tax laws that allow people to keep most of their wealth.
- Singapore in Asia has become a center of technology and finance.
- Norway in north-western Europe is the fourth wealthiest country in the world.
- Brunei, a small island country in eastern Asia has become wealthy from the sales of oil and natural gas.
- The United Arab Emirates has also gained its wealth through oil and gas.
- The U.S. is much larger geographically than other countries on this list. The U.S. has become wealthy through many industries, but not everyone living here shares that wealth.
- Hong Kong has become a powerhouse of shipping and technology.
- Switzerland, a small country in Europe, is prosperous because of a stable government, low taxes and strong manufacturing.
- Netherlands in Europe also has a stable government and fair tax laws.
Top 10 Wealthiest Countries in the World Facts
- A country that does not tax its population is rare. Qatar is one of these countries. It is also unusual because only 1/8 of its total population is actually citizens.
- Luxembourg’s government is a constitutional monarchy. Its leader is a grand duke making Luxembourg the only grand duchy in the world.
- Singapore has four official languages: English, Malay, Mandarin and Tamil.
- Women’s rights are an issue in many countries. Brunei has made attempts to assure a woman’s safety by instituting severe punishments, such as 30 years in prison and caning of at least 12 strokes for rape.
- Not every country making the list has a long history. The United Arab Emirates is less than 45 years old. It was formed as a federation of seven separate political territories formed in December 1971.
- Because of its rapid development between the 1960’s and 1990’s as well as its consistent high rates of growth through that time Hong Kong is designated as one of the Four Asian Tigers.
- Ever heard someone say, “I am Switzerland” when they don’t want to get involved in an argument? This comes from Switzerland’s long history of neutrality in all international conflicts.
- Sometimes the country Netherlands is called Holland. Holland is actually only a region within the Netherlands and people from other regions don’t like that usage. It would be similar to the United States just being called California. People from New York or Texas may not like that very much.
Top 10 Wealthiest Countries in the World Vocabulary
- Citizen: Legally recognized member of a government
- Duchy: Region ruled by a duke or duchess
- Wealthy: Rich; Possessing financial abundance
- Powerhouse: Source of strength
- Finance: Management of money and other assets
- Designate: Make known; to specify or name
- Stable: relatively unchanging
The Top 10 Wealthiest Countries in the World Video for Kids
Watch this awesome video all about the Top 10 Wealthiest Countries in the World for kids:
A video all about the top 10 wealthiest countries in the world according to GDP Per Capita Income.
Top 10 Wealthiest Countries in the World Q&A
Question: What are the poorest countries in the world?
Answer: Almost all of the poorest countries in the world, including the Democratic Republic of the Congo, Zimbabwe and Niger, are found in Africa. Drought, famine, war, corrupt governments and lack of resources are transportation can help cause poverty. Many people in these countries lack access to basic medical care and education.
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