{"id":62562,"date":"2021-04-27T16:14:54","date_gmt":"2021-04-27T20:14:54","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=62562"},"modified":"2021-04-27T16:14:54","modified_gmt":"2021-04-27T20:14:54","slug":"what-is-really-going-on-in-luxembourg-that-they-are-always-the-richest-country-in-the-world","status":"publish","type":"post","link":"https:\/\/stateofthenation.co\/?p=62562","title":{"rendered":"What is really going on in Luxembourg that they are always the richest country in the world?"},"content":{"rendered":"<h1><strong>Luxembourg Remains The &#8216;Richest&#8217; Country In The World<\/strong><\/h1>\n<p><!--more-->ZeroHedge.com<\/p>\n<p><strong>Which are the richest countries in the world, by nominal GDP per capita?<\/strong><\/p>\n<p>This map looks at the top 25 countries by this metric.\u00a0<a href=\"https:\/\/www.visualcapitalist.com\/mapped-the-25-richest-countries-in-the-world\/\">As Visual Capitalist&#8217;s Avery Koop notes<\/a>, they\u2019re located across North America, Europe, Asia, and Oceania.\u00a0<strong>Notably, no South American or African countries make the list.<\/strong><\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/Data-Stream-Richest-Countries.jpg?itok=_wOlIhxs\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/Data-Stream-Richest-Countries.jpg?itok=_wOlIhxs\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/Data-Stream-Richest-Countries.jpg?itok=_wOlIhxs\" alt=\"\" width=\"500\" height=\"500\" data-entity-type=\"file\" data-entity-uuid=\"0b2aaeb2-c403-455f-841e-b71b6e23a514\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><strong>Although number one on the global stage in terms of\u00a0<a href=\"https:\/\/www.visualcapitalist.com\/the-88-trillion-world-economy-in-one-chart\/\">total GDP<\/a>, the U.S. places fifth with a GDP per capita of $63,051.<\/strong><\/p>\n<p>Interestingly, a number of countries with smaller population sizes have a high GDP per capita. For example,\u00a0<strong>Iceland<\/strong>\u00a0makes the top 10 at $57,189, but the island\u2019s population is only around 342,000 people. Similarly,\u00a0<strong>Luxembourg\u2019s<\/strong>\u00a0population is just under 633,000\u2014but it\u2019s the richest country in the world on a per capita basis.<\/p>\n<h2>Building Wealth<\/h2>\n<p>So how did these countries become so well off?<\/p>\n<p>Looking at history, most high-income countries went through a similar linear journey. Beginning with agriculture-based economies, they went through a period of rapid industrialization, and finally became service-based economies.<\/p>\n<p>In Luxembourg today, one of the top industries is banking and financial services, for example. Here\u2019s a look at some of the\u00a0<a href=\"https:\/\/www.worldatlas.com\/countries\">top industries<\/a>\u00a0in the next five richest countries:<\/p>\n<ul>\n<li>\u00a0<strong>Switzerland:<\/strong><br \/>\nBanking and financial services, agriculture<\/li>\n<li>\u00a0<strong>Ireland:<\/strong><br \/>\nNatural resources (including agriculture, fisheries, forestry, and mining), pharmaceuticals<\/li>\n<li>\u00a0<strong>Norway:<\/strong><br \/>\nOil and gas, hydropower, seafood<\/li>\n<li>\u00a0<strong>U.S.:<\/strong><br \/>\nReal estate, healthcare, technology<\/li>\n<li>\u00a0<strong>Singapore:<\/strong><br \/>\nFinancial services, manufacturing, oil and gas<\/li>\n<\/ul>\n<p>The world\u2019s wealthiest economies will likely remain on top for the foreseeable future, though some may experience plateauing growth. In Japan, for example, the domestic market is beginning to shrink due to an\u00a0<a href=\"https:\/\/www.visualcapitalist.com\/worlds-youngest-and-oldest-countries\/\">aging population<\/a>.<\/p>\n<p>Regardless, the wealth of these countries today is astounding, with the richest country in the world having a GDP per capita of\u00a0<strong>415x<\/strong>\u00a0more than the\u00a0<a href=\"https:\/\/www.visualcapitalist.com\/mapped-the-25-poorest-countries-in-the-world\/\">poorest country<\/a>\u00a0in the world.<\/p>\n<p>___<br \/>\n<a href=\"https:\/\/www.zerohedge.com\/geopolitical\/luxembourg-remains-richest-country-world\">https:\/\/www.zerohedge.com\/geopolitical\/luxembourg-remains-richest-country-world<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luxembourg Remains The &#8216;Richest&#8217; Country In The World<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-62562","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/62562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62562"}],"version-history":[{"count":0,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/62562\/revisions"}],"wp:attachment":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}