Certainly, not those who lost their jobs and businesses, who found themselves with astronomical medical bills and other expenses to pay, lined up at food banks. Yet another story is how the super-rich fared during the health crisis.
In other words, if you are an American and your income is a fraction of the average GDP per capita, it is fair to argue that someone else is probably eating your proverbial lunch.
Not anymore: prices crashed at the beginning of , then the global pandemic ensued—and the krone was sent in freefall. The Norwegian economy contracted by 2. Does it mean that today Norwegians are significantly less wealthy than they were just a couple of years ago?
Probably not and GDP growth is already projected to rebound in to 3. White chocolate, the bobsleigh and—of course—the Swiss Army knife.
But also the computer mouse, the immersion blender, velcro and LSD. The list just goes and on: these are only some of the inventions that Switzerland has contributed to the world. Today, however, this country of about 8. Is it really a surprise that Switzerland has the highest density of millionaires in the world? According to the most recent estimates, for every , residents there are 9, of them billionaires included —the All that money, however, could not shield the Swiss economy from the effects of Covid in production declined by 2.
Yet, things could also have been worse, especially when we consider that in Italy, Spain, France and Germany the contraction has been respectively of 8. To what do we owe the difference? According to the IMF, to a swift and sustained policy response through emergency spending and containment measures, but also to the make-up of the Swiss economy itself, with its solid public and household finances, competitive export industries, and low dependency on contact-intensive sectors.
Quarantines, curfews and lockdowns have been imposed more than once, yet Qatar suffered one of the highest rates of positive cases in the region. Even so, the economy has showed a certain resilience it contracted by a relatively modest 2. Until recently, Ireland seemed unstoppable.
While the rest of Europe was facing all sort of uncertainties Brexit, trade tensions with the U. That all changed in economic growth more than halved from the previous levels, although it is expected to rebound nicely this year. A nation of fewer than 5 million inhabitants, Ireland was one of the hardest hit by the financial crisis. Following some politically difficult reform measures like deep cuts to public-sector wages and restructuring its banking industry, the island nation regained its fiscal health, boosted its employment rates and saw its per capita GDP almost double in a short amount of time.
Do citizens feel twice as rich as 10 years ago? Probably not: Ireland is one of the world's largest corporate tax havens, with ordinary people benefitting far less than multinationals do.
Saverin did not choose it just for its urban attractions or natural gateways: Singapore is an affluent fiscal haven where capital gains and dividends are tax-free. But how did Singapore become so prosperous? When the city-state became independent in , one-half of its population was illiterate. With virtually no natural resources, Singapore pulled itself up by its bootstraps through hard work and smart policy, becoming one of the most business-friendly places in the world.
That is not as saying that it has been immune from the effects of the global downturn: in the economy plummeted a record 5. You can visit Luxembourg for its castles and beautiful countryside, its cultural festivals or gastronomic specialties. Or you could just set up an offshore account through one of its banks and never set foot again, as many do. It would a pity though: situated at the very heart of Europe, this nation of about , has plenty to offer, both to its tourists and its citizens.
Luxembourg uses a large share of its wealth to deliver better housing, healthcare and education to its people, who by far enjoy the highest standard of living in the Eurozone.
Yet, while both the global financial crisis and the pressure from the EU and OECD to reduce banking secrecy have had little impact on the economy, the coronavirus outbreak forced many businesses to close and workers to lose their jobs. Everything in the world costs money, and there really is no exception to such a bold claim. People are quick to retort with the notion that you cannot buy experiences or memories, but the truth of the matter is that you need to have a source of finances in order to go anywhere and experience new cultures, places, or any other travel-related endeavor whatsoever.
You can create memories doing things that don't require money. Still, the options are painfully limited, and you can only make the same memory of hanging out in your backyard before it becomes dull and not worth storing in your long-term memory. While it is not necessarily true that wealthier people are happier, they are far more capable of paying for anything they need and preventing any stress, anxiety, or depressive symptoms resulting from an inability to afford something you need.
By looking at the GDP per capita , or gross domestic product per capita, of each country around the globe, it is possible to rank countries based on wealth and then compare them to each other. From there, you can determine which states are wealthiest and then list the countries in descending order, from richest to poorest.
Here is the definitive ranking of countries of the world , in order from most to least wealthy. Location is a major player in the overall wealth of a country. For example, developing countries do not rank very well when GDP is the variable in consideration. If access to certain items and necessities is restricted, people are already working with a substantial disadvantage. Places that are not war-stricken or already burdened with a less-than-ideal economy are not set up to do well in the competition of gross domestic products between countries.
This is why, when looking at the list of the wealthiest countries in the world, you'll find that places where trade or massive production is the primary source of income rank higher on the list. The poorer countries are less involved in global trading, and they are more independent in the sense that their direct involvement in international affairs is lesser than the wealthier nations.
Italy faces persistently sluggish economic growth due to a very high public debt, an inefficient court system, a weak banking sector, an inefficient labor market with chronically high youth unemployment, and a large underground economy. It also has a large agricultural sector that makes it a major exporter of coffee and soy beans. Brazil emerged from a severe recession in and suffered a series of high-level corruption scandals along the way. In the wake of these events, Brazil instituted a series of major economic reforms intended to rein in public spending and debt, invest in energy infrastructure, lower barriers to foreign investment, and improve labor market conditions.
Canada also has impressive manufacturing and service sectors, based mostly in urban areas near the U. Canada's free trade relationship with the U. Canada's close ties to the U.
As a leading exporter of oil and gas, as well as other minerals and metals, Russia's economy is highly sensitive to swings in world commodity prices. It is a major producer and exporter of electronics, telecommunications equipment, and motor vehicles. With this progress, however, South Korea also now faces some of the same challenges that many other advanced economies are dealing with, including slower growth and an aging workforce. However, it has also left Australia vulnerable to swings in world commodity demand and prices in energy coal and natural gas , metals iron ore and gold , and agricultural products beef and sheep products.
Many major U. Mexico supports a variety of exports, including consumer electronics, vehicles, and auto parts, and well as petroleum and agricultural products. Major exports include coal and petroleum products, as well as agricultural commodities suitable for industrial use, such as rubber and palm oil. It has a highly developed agricultural sector and is the second largest agricultural exporter in the world.
However, with global environmental concerns driving increasing interest in developing non-fossil fuel energy sources, the Saudis are looking to diversify their economy by encouraging more private investment in healthcare and other service industries. The Saudi government has also begun to at least partially privatize Aramco, launching an IPO for the company in late Major industries include electronics, petrochemicals, and automotive production.
High-quality legal, political, and economic institutions and solid physical infrastructure set the stage for a productive economy with one of the highest per-capita GDPs in the world. Thailand is highly dependent on exports, which account for about two-thirds of its GDP.
Its main exports include electronics, agricultural products, motor vehicles and parts, and food products. Thailand also has a substantial international tourism industry.
Sweden has taken in a large number of new immigrants and thus faces a short- to medium-term challenge with integrating them into Swedish society and its labor market. Because of its deep integration with the rest of the European economy, Belgium is highly sensitive to swings in the overall economic performance of its neighbors.
Belgium faces a high public debt burden relative to its GDP, which can constitute an obstacle to growth. One of the largest economies in Africa, Nigeria's economy relies heavily on the oil industry. Other resource extraction industries, such as coal, tin, and other metal mining, are also important to the Nigerian economy.
While oil dominates in terms of contribution to GDP and exports, between a fifth and half of Nigerians work in agriculture, mostly small-scale subsistence agriculture. Nigeria's economy has grown rapidly in past decades, but the nation also faces significant challenges such as desertification, lack of infrastructure, and government corruption. World Bank. Bureau of Economic Analysis. CIA World Factbook. BBC News. Leaving the EU. The New York Times. Fell Short of Saudi Prince's Wish.
The World Bank. Emerging Markets.
0コメント