The Country With the Most Wealth, as Perceived by The Economist's Rankings
Switzerland Leads in Nominal GDP per Capita, but Singapore and Norway Top Other Wealth Measures
According to The Economist's 2025 ranking of 178 countries, Switzerland leads in GDP per capita at market exchange rates, with $100,000 per capita. However, Singapore ranks first when adjusting for local prices (purchasing power parity, PPP), and Norway leads when considering productivity with local prices and hours worked.
In the first measure, GDP per person at market exchange rates, Switzerland is followed by Singapore ($90,700) and Norway ($86,800). But when adjusting for local prices (PPP), Singapore overtakes Switzerland, reflecting higher purchasing power due to lower living costs. Norway ranks first when considering productivity, benefiting from shorter workweeks combined with strong productivity.
The third measure, which incorporates both local prices and hours worked, provides a holistic view of a country's wealth. In this measure, Norway moves into the top spot, with an adjusted GDP of $115,000. Singapore comes in second, and Denmark takes third place with an adjusted GDP of $92,300.
While Switzerland is the richest by nominal GDP per capita, its high living expenses mean that money doesn't go as far as it does in Singapore or Norway. This is evident in the relative wealth of its inhabitants and the travel costs of its visitors.
At the other end of the spectrum, Burundi, with a median age of less than 17 years old, appears at the bottom of the wealth list. Around 100 Burundians earn the equivalent of just one Swiss wage, even adjusted to account for local prices.
The ranking excluded some countries, such as Bermuda and Ireland, due to size or data inaccuracies. Inautocracies, data is often too unreliable to use in the ranking.
Macau and Qatar climb to second and third spots respectively, with adjusted GDPs of $128,000 and $126,000 respectively, in the first measure. The U.S. ranks in the top ten wealthiest countries in the world, with a base GDP of $85,800.
In summary, while Switzerland leads in nominal GDP per capita, Singapore and Norway top other important measures in The Economist's 2025 wealth ranking. The third measure, which takes into account both local prices and hours worked, provides a more comprehensive view of a country's wealth.
Investors might find it beneficial to consider Norway's strong productivity and lower workweeks when looking for potential business opportunities, as it has the highest adjusted GDP in the third measure. On the other hand, for those looking for affordable financing, Singapore, with lower living costs and higher purchasing power, ranks first when adjusting for local prices.
