There are several factors to consider before moving abroad. If you’re in the market for a new property, countries with the highest gdp per capita have greater access to wealth. Greater access to wealth means greater access to things that improve everyday life.
What is GDP?
The economic strength of a country is measured by its gross domestic product (GDP) per capita. GDP is a global measure used for gauging the prosperity of nations. If GDP rises, the economy is in solid shape, and the country is moving forward. It can also lead to higher living standards, such as increased life expectancy and higher rates of literacy.
We’ve created a guide with the top five highest ranking countries by GDP per capita. Read on and discover the best countries to live in.
What are the countries with the highest GDP per capita?
The countries with the highest GDP per capita are Monaco, Liechtenstein, Luxembourg, Bermuda, and Ireland.
1. Monaco
Squeezed into just 200 hectares, Monaco is the second smallest country in the world, but what it lacks in size, it makes up for in wealth.
The World Bank Group crowned Monaco the wealthiest country in the world. Monaco’s GDP is $234,315 per capita, based on its current value in 2021. The city-state’s high GDP is reflected in its real estate market, with Monaco real estate for sale costing more per square meter than anywhere else in the world.
The Principality of Monaco is an attractive option for buyers seeking sustenance. Its location and international prestige offer investors unique advantages that other places lack. Monaco’s GDP and tax regime, alongside social life and high quality of living, ensure that the market remains popular and prices stable. It seems Monaco really is one of the best countries to live in.
2. Liechtenstein
Liechtenstein is a tiny, landlocked country tucked between Switzerland and Austria. Despite its size, Liechtenstein has a $157,754 GDP per capita, driven by a 12.5% corporate tax rate – making it one of the countries with the highest GDP per capita.
According to Liechtenstein’s Foundation for Public Policy and Constitutional Law, the country has a debt-to-GDP ratio of 0.5% and national and municipal budgets run an overall surplus.
Alongside being an economic powerhouse, Liechtenstein boasts tranquil spaces, lush native foliage, and panoramic views of the Alps. It makes sense that Liechtenstein remains popular among buyers.
3. Luxembourg
According to the World Bank collection of development indicators, Luxembourg was reported to have a GDP per capita of $133,590 in 2021. Thanks to the long-term stability of the country and ecosystem, matched with a robust regulatory framework and a trusted and reputable regulator, Luxembourg is regarded as one of the best countries to live in.
Luxembourg is a small European country landlocked by Belgium, France and Germany. Luxembourg’s prosperity was formerly based on steel manufacturing and since its decline, the nation has diversified and is now considered Europe’s largest investment fund center.
4. Bermuda
Bermuda has the fourth-highest GDP per capita in the world. The GDP in Bermuda was reported at $114,090 in 2021.
Similar to other countries with the highest GDP per capita, the self-governing British overseas territory has one of the world’s most prosperous economies, primarily due to its highly successful offshore finance industry.
Besides goods and services, Bermuda’s environment is a major plus for buyers. With beautiful pink sand beaches and crystal-clear water ideal for swimming and snorkeling, Bermuda is renowned for its natural beauty. With spectacular landscapes and no personal income tax, Bermuda continues to attract the world’s richest individuals.
5. Ireland
In 2021, Ireland joined the list of countries with one of the highest GDP per capita, reaching $100,172. In recent decades, the Irish government has focused on encouraging international corporations to channel their profits through Ireland, and it has paid off, the country is experiencing exponential economic growth. Over 1,000 oversea multinationals, most of the world’s top tech and pharmaceutical firms, now have operations in Ireland.
Ireland is renowned for its beautiful scenery, friendly people, and rich culture. Ireland also offers an excellent quality of life, low crime rates, and excellent healthcare and educational systems.