This is a list of top 10 countries having highest per capita income (in purchasing power parity) in the world , as per the report presented by the highly prestigious organization International monetary fund in 2015 :-
1 ) QATAR
Per Capita Income :- $ 1,32,099
Prosperity of Qatar allows it to provide very high quality of life to its people .
Qatar is a sovereign country which is located in Southwest Asia and shares a land border with Saudi Arabia . Government type in Qatar is Unitary parliamentary constitutional monarchy . Its population is only 2.5 million ( 142nd rank ) and population density is 176 / km square .
Its score of Human development Index is 0.850 (very high) . Qatar has a literacy rate of 97% for males and 96 % for females , it is highest in the Arab world .
Qatar will host the 2022 FIFA world cup becoming the first Arab country in the history to get this honour .
2 ) LUXEMBOURG
Per Capita Income :- $ 98,987
Luxembourg is a landlocked country in western Europe and it is bordered by few powerful and globally important countries like Belgium, France and Germany .
Its population is very small , approximately .56 million (170th rank ) and its population density is 194/ km square (60th ) .
Its HDI score is 0.892 (very high) ; majority of people living in Luxembourg are Roman catholic (68%) .
3 ) SINGAPORE
Per Capita Income :- $ 85,253
Singapore needs no introduction , but Geographically it is located in southeast Asia and is world’s only Island city-state . Government type in Singapore is Unitary parliamentary republic .
Its population is 5.5 million (113th rank) and population density is 7697 /km square (3rd rank) . Its HDI is 0.912 (very high) , but its inequality level is also very high.
Literacy rate of Singapore is 96% and it performed best in the 2015 International Baccalaureate exams, taken in 107 countries, with more than half of the world’s 81 perfect scorers belonging to Singapore and 98% passing rate of the students appearing in the Examination .
Singapore has been declared the easiest place to do business for 10 consecutive years by the World bank .
4 ) BRUNEI
Per Capita Income :- $ 79,587
Brunei is located in Southeast Asia , apart from a coastline with south china sea, it is completely surrounded by a state of Malaysia .
Its HDI is 0.856 (very high) . There are four government-run hospitals in Brunei, one for every district .
Healthcare in Brunei is very cheap and charged at B$1 per consultation for citizens and it is free for every children under 12 years of age .
5 ) KUWAIT
Per Capita Income :- $ 70,166
Kuwait has benefited enormously from its large oil reserves as well as efficient and strong government policies .
Kuwait has a population of 4.2 million people (140th) , out of which 1.3 million are Kuwaitis and approximately 2.9 million belong to other countries . Its population density is 200.2 / km square (61st) .
HDI of Kuwait is 0.816 (very high) and its literacy rate is among the highest in the Arab world . Till now, Kuwait has registered 384 patents, the second highest figure in the Arab world.
Kuwait has 6th highest oil reserves in the world and its currency is the highest valued currency in the world.
6 ) NORWAY
Per Capita Income :- $ 68,430
Norway is a sovereign and unitary monarchy located in Scandinavian peninsula, and it shares a long border with Sweden , Finland and Russia .
Its HDI score of 0.944 is highest in the world and it also has very high level of income equality .
Literacy rate of Norway is 100% and its education system is considered to be one of the best systems in the world .
Norway is also one of the most peaceful and one of the least corrupt countries in the world , reputed for having a very transparent system of governance .
7 ) UNITED ARAB EMIRATES
Per Capita Income :- $ 67,617
United Arab Emirates is a country located in Arabian peninsula , it shares land border with Oman and Saudi Arabia as well as sea borders with Iran and Qatar .
Government type in UAE is constitutional monarchy . Its population is 5.8 million (93rd) and population density is approximately 140/ km square (110th) .
HDI of UAE is 0.835 (very high) and its literacy rate is around 90% . Government of UAE is trying hard to push the literacy rate to 100% in coming 8-10 years .
Life expectancy at birth for UAE’s citizens is 78.5 years , which suggests that people of UAE get high quality medical facilities .
8 ) SAN MARINO
Per Capita Income :- $ 63,104
San Marino is a very small republic state surrounded by Italy and situated on Italian peninsula. Its area is just over 61 km square and population is just over 33,000 .
Government type in San Marino is Unitary parliamentary directorial republic .
Its HDI is 0.875 (very high) , quality of education provided here is very high and main sources of the country’s revenue are tourism and banking .
This world’s smallest republic state was founded by Saint Marinus and is named after him , more than 97% people of San marino are Roman catholic .
9 ) SWITZERLAND
Per Capita Income :- $ 58,551
Switzerland is a landlocked federal republic located in Europe , major countries bordering it are Italy , France , Austria and Germany . Its government type is Federal multi-party directorial republic .
Population of Switzerland is approx. 8.2 million people (96th) and population density is around 200/ km square (65th) .
Its HDI score is 0.930 (3rd highest) and income equality level is also very high .
Switzerland’s education system is highly appreciated for its competitiveness and high quality standards , it is regularly ranked among the top education systems in the world in the lists of prominent organizations .
Switzerland is world famous for the natural beauty of its hilly areas , but it has faced very severe criticism for suspicious policies of Swiss banks which face strong allegations of supporting and protecting black money accounts in an organized manner .
10 ) UNITED STATES
Per Capita Income :- $ 55,805
Mighty U.S.A. has been dominating the global economy very consistently for last many decades in a row .
Here comes Boss of the world , United States of America . This economic superpower is located between Mexico and Canada in the North American continent .
Its population is 322.4 million (3rd) and population density is only 35/ km square (180th) . Its GDP (ppp) is $ 18.12 trillion (highest) and HDI is 0.915 (8th) .
USA spends more money per children on education than any other country in the world . Its basic literacy rate is 99% and approximately 80% of U.S. college students attend public universities .
It accounts for 34% of global military spending and 23% of global GDP .
We hope you have enjoyed reading this detailed post about nations with highest per capita income. Other than these 10 nations, some other countries also have very high per capita income and as a result very high standard of living.
But, there are many countries which are still struggling to fight with poverty and backwardness. We hope that some day these countries will also grow to become very rich and powerful. If that happens, then there will be greater level of equality in this world.