The International Monetary Fund ranked the countries of the world based on the most popular economic development indicator, GDP per capita. One of the smallest countries in Europe is in the first place, while the last places are almost always occupied by African states. Hungary’s ranking in the 190-participant competition may surprise many.
The GDP figure per capita tells a lot about the economic development of a society. In its most recent study, the International Monetary Fund (IMF) ranked countries according to the expected economic performance per capita in 2023.
Luxembourg won the title of the richest country, where the GDP (gross added value) per capita is almost 130,000 dollars.
Luxembourg is one of the smallest countries in the European Union with 634,000 inhabitants. Formerly known for its steel production, the country now boasts an outstanding financial services sector, which accounts for most of its economic output. The richest country’s GDP per capita is nearly 415 times that of the world’s poorest country, Burundi, where this figure is only $303.
A previous study shows that pensioners in Luxembourg and other rich countries also live luxuriously.
