One of the criteria that determines the level of development and welfare of countries around the world is the amount of national income per capita . This amount is calculated by dividing the gross national product of the country by the population of the country. The countries with the highest per capita income can be listed as follows:
Luxembourg
Officially, the Grand Duchy of Luxembourg is one of the countries with the highest national income. According to the data of the International Monetary Fund in 2019, the per capita income of the country is 114,234 dollars. The landlocked country is also one of the least populated European countries. Thanks to the development of the industrial sector in the field of steel and rubber enterprises, the economic growth rate and stability are high. It is one of the world’s most important retail banking and investment fund centers.
Train
The state of Qatar is a country in the east of the Arabian Peninsula surrounded by the Persian Gulf. Natural gas reserves and oil have been instrumental in making it one of the richest countries in the world. In the country where the welfare level is high, the per capita income is 70,780 Dollars. Natural resources such as oil and gas, which have been discovered since the 1940s, have been effective in the rise of the economy. Petroleum reserves had developed the cement and fertilizer industry. Consumer goods are generally obtained through imports.
Norway
The Kingdom of Norway, located in the west of the Scandinavian peninsula, has higher social and economic standards than the average of European countries. It is one of the most developed countries in the world with a per capita income of $81,695. The oil reserves on its coasts and the large fishing industry that affects all of Europe are at the forefront. Apart from these, it has developed in mining, shipping, forest products and especially raw material export. The development of these sectors also directs large investors to the country. However, due to the high elderly population, there is a shortage of labor force and it is seen as the most expensive country in Europe.
Switzerland
The economic and life center of Switzerland, which is not on the coast and covered with the Alps, is especially the cities of Zurich and Geneva. With this center, we come across as the second and eighth in the world in terms of quality of life. It is one of the strongest countries financially, with a per capita income of $82,950. The largest sector in its economy is the service sector, where areas such as banking and insurance are active. In industry, the production of chemistry, medicine, health and scientific instruments comes to the fore.
Iceland
The per capita income of this European country surrounded by the Arctic Ocean is 74,278 dollars. Since it is an island state, fisheries form the basis of the economy. Although the most developed sector is service, winter tourism and thermal resources come to the fore. The export of fish products and canned goods is around 80%. In addition to its high income level, it is one of the European countries with the lowest unemployment rate. Agricultural activities have not developed due to the infertility of agricultural lands. Ovine and cattle breeding sector is one of the livelihoods.
Macau
Macau is a special administrative region of the People’s Republic of China. Gambling tourism has an important place in the economy of the country with a per capita income of 82,388 dollars. It is visited by more than 5 million tourists a year. It ranks ninth among the countries with the highest tourism income in the international arena. The value of the gambling industry in the country is equal to seven tastes of the city of Las Vegas. Despite being one of the countries with the highest per capita income in the world, it is noteworthy that the income distribution is not made equally. According to the calculations of the Macau government, the human development index is very high. In addition to gambling tourism, areas such as weaving, electronic tool making, toy making have developed in the industrial sector.[/vc_column_text][/vc_column][/vc_row]
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