Europe definitely has some rich countries and then they also have countries that are crazy rich. The population and the GDP across the various countries of Europe vary, which means that the level of wealth varies, as well. This article is going to explore the 10 richest countries based on per capita. PCI, or Per Capita Income, is the actual average income of an individual person in a certain country.
10. Belgium – GDP of $37,995.23
This city occupies the number 10 spot in the list of the richest countries within Europe. Belgium has an economy that is industrialized. The wealth of the country is not contributed to by the agriculture sector. There are also very limited natural resources available in the country that are available for trade. These sets of limitations have dictated that the country be developed into an extremely skilled type of service center within Europe.
9. Germany – GDP of $38,695.94
Since Germany has one of the largest economy’s in all of Europe, it has developed into one of the most wealthy countries of Europe. This nation, like Belgium, is very industrialized and has an extremely significant service sector. It is also the birthplace of a number of the famous car brands that are sold around the globe, including Daimler, Audi, BMW, Mercedes-Benz and Volkswagen.
8. Iceland – GDP of $39,082.93
Iceland is found situated in part of the Atlantic Ocean, and has an extremely small population. In the early part of the 20th century, Iceland was recognized as one of the poorest nations in all of Europe, however now it ranks at the eight richest. Why? This is due to the fact that the country is generating a large amount of wealth from fish products and the exporting of fish. The government of Iceland is currently exploring other methods to diversify their sources of income by the promotion of green energy industries including aluminum, among others.
7. Ireland – GDP of $40,443.26
The official name of this country is the Republic of Ireland, and it currently has a very knowledge based type of economy and has a number of high-tech industries that completely dominate the entire economy of the country. While the country is very small, it is also very dependent on trade for support of the economy. Currently, the population of Ireland is approximately 4.5 million and has made the list as one of the richest countries in all of Europe due to their GDP that is estimated to be $185 billion.
6. Sweden – GDP of $41,129.26
In Sweden, almost 70 percent of the GDP is gained from the service sector and it is a very high tertiary type of economy. Sweden is considered one of the most developed countries in the entire world and made the list as the sixth richest country in all of Europe. Other revenue generation is earned from industries and agriculture. With the high-tech industry presence and a very smartly structured welfare system, it has had one of the highest standards of living for the majority of the 20th century.
5. Netherlands – GDP of $42,319.57
The Netherlands have what is considered an open economy, which makes it the number five richest country in all of Europe. The population of the Netherlands is approximately 16 million, with a total GDP that has reached about $700 billion. The Netherlands main industries include food processing, chemicals and petroleum refining.
4. Austria – GDP of $42,589.72
Austria is not only one of the richest countries in all of Europe; it is also one of the wealthiest in the entire world. Compared to other European countries, Austria has a very high level for the standard of living. The labor force of the country is considered very highly skilled and their service sector is considered one of the most developed. This fact, combined with the fact that they have access to the latest technology, makes Austria possess one of the most innovative and forward sectors in agriculture.
3. Switzerland – GDP of $44,015.97
Switzerland is considered to have one of the most highly skilled populations of laborers in the entire world, giving it an extremely high GDP per capita. Switzerland is also home to a number of the largest banks in the entire world. The country currently has one of the very least rates for corporate taxes in the entire world. The financial sectors and very efficient services have contributed to a large portion of the GDP of the country.
2. Norway – GDP of $54,479.06
The income per capita of Norway is only less than Luxembourg, making it the second wealthiest country in all of Europe. A portion of this fact is due to the large amounts of oil reserves that are present in the North Sea, which happens to fall within the jurisdiction of Norway. This European country’s GDP is very close to reaching $500 billion, which also makes it one of the wealthiest countries in the entire world. The economy of Norway is mainly dependent on resources from minerals and the forest for their accumulation of wealth.
1. Luxembourg – The GDP is $79,649.49
The average person’s income in the nation of Luxembourg is almost up to $80,000, making it, by far, the wealthiest country in all of Europe. Additionally, when compared to countries around the world, it only comes in after Qatar, which holds the top spot for the wealthiest country in the entire world. Luxembourg is a nation that is very highly industrialized within the cities, but it also has a vast amount of green pasture land. Besides Monaco and the Bahamas, Luxembourg is considered one of the most popular havens for taxes, both in Europe, as well as around the world.
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