Whether big or small, there are a number of different ways to determine the wealth of a country.
One of the most common metrics to measure the world’s richest countries is GDP per capita, which breaks down the total economic output of a country divided by its population. This figure is then used by economists to analyse the prosperity and productivity of a country.
According to the International Monetary Fund, which analyses global economic developments, Luxembourg is the richest country in the world for 2024 based on GDP per capita in US dollars.
While it isn’t always the case - as our list of the world’s top 15 richest countries shows - small countries with developed economies tend to have the highest GDP per capita.
But with nations such as the United States also making the cut, here are the 15 richest countries in the world.
13. San Marino – $59.41 thousand
San Marino, which can be described as a microstate, has a GDP per capita of $59.41 thousand which can perhaps be explained by its tiny population of around 33 thousand people. | Getty Images
14. Austria – $59.23 thousand
Austria’s highly industrialised economy means it is consistently among the world’s richest countries with a GDP per capita of $59.23 thousand and a population of almost 9 million. | Adobe Stock
15. Sweden – $58.53 thousand
Known for its high standard of living, Sweden is the fifteenth richest country in the world for 2024 with a GDP per capita of $58.53 thousand and a population of more than 10 million. | olandsfokus - stock.adobe.com