It is more like a trend that each year, every individual, every company and every country gets some boost in terms of earning. It is every year that organizations such as the World Bank and the IMF (International Monetary Fund) conduct surveys, and come up with statistics regarding the economic conditions in various countries. Since the world’s economy is so uncertain in this era, with small countries becoming rich and old powers gradually crumbling away, these statistics vary from year to year, and the tables turn frequently. This time around, the IMF has released statistics that indicate towards the top 10 richest countries in the world today. Here are 10 countries that are most likely to be in the official list for their estimated GDP, this year. Have a look!
Known for: Pearl mining, natural gas, numerous oil and petroleum reserves
The country that has been ruled over the years by a single royal family, got lucky with its natural reserves and stands still in the list of richest countries again. Its foreign open trade policies with US and a strategy of no income tax to its citizens have made Qatar the wealthiest nation in the world.
Known for: Iron and steel companies
This small country is a home to world’s biggest and richest iron and steel companies also providing international banking services to the rest of the world. The country also has the highest minimal legal salary.
Known for: Education system, Tourism, Cuisine
Singapore has always been on roads of development and changes holding together the small nation. The governance and the legal structures of Singapore is extremely strict yet one of the best, making it easy for the country to slowly become one of the world’s richest.
Known for: Minkey whale meat, Skiing, Coffee, Waffles, Trolls, Fishing, Seafood
The land of the rising sun, holding its place firmly, has the world’s best social welfare system, where every individual gets to pay if he/she does their bit of work. The extensive natural and fishing reserves has brought the country in the rich list and keeping the healthy and wealthy lifestyle of people.
Known for: Tourism, Hopping centers, Victoria Harbor Night View, Transportation network
Though you may find people debating upon the inclusion of Hong Kong in the list, but being the administrative country of China and mainly due to its major contribution in the world economy and politics, it deserves a spot. The friendly political condition made it easy to have a free trade with it, which in turn help in boosting the economy.
Capital: Bander Seri Begawan
Known for: Natural gas and petroleum fields
The small nation of Southeast which is mainly dominated by Muslim population is extremely wealthy due to its gifts from god of natural gas and petroleum. The other secret behind its existence in the list is, it is one of two countries which has 0% public debt.
7)The United States of America
Capital: Washington, D. C
Known for: IT products
The world’s largest economy, no doubt is also one of the world’s richest economies. The country, considered to be as the global power, has set many milestones in the past few decades in IT, producing products that have a huge consumer market. This demand and purchase greatly profits America and its national treasury, so the country is going to stay in the list couple more decades as its not dependent on non renewable sources.
8)United Arab Emirates
Capital: Abu Dhabi
Known for: Oil reserves, Date plants
It wasn’t more than doom of dessert scorching under sun few decades back, but now suddenly it is witnessing a boom after all the oil reserves were explored in the country. The land is basically profits greatly from the monarchy that rules over it. Together with the natural reserves, the lavish style and free trade opportunities, the UAE have seen a growth in incoming tourists, which is defiantly bringing the foreign currency to the country, helping it to stand in the list.
Known for: Banking system, Swiss chocolates, Swiss army knives, 4 national languages
A home to the world’s richest bank, Swiss Bank, Switzerland, is also a home to some of the world’s biggest agencies. Together with its world’s efficient banking system and liberal taxation policies leaves no stone unturned to raise the economy of the country despite of economic European cruises.
Capital: Kuwait City
Known for: Oil Producers, the Central musical influence of the Gulf Cooperation Council
The only Arab country in the western region of Asia is one of the leading oil producing countries and so building its treasury dependent upon non renewable source solely. The country has a monarchy system of government which provides all the necessary funds and money, supporting the economic growth policies.
All for now, share your views