@World Top 10 Richest Countries In World 

This top 10 richest countries in the world based on the report 2011-2012 international monetary fund, which uses the GDP per capita of each country, adjusted for cost of living and purchasing power.These are the following countries of world:

1.Qatar

 

Qatar has been ranked as the world's richest country per capita in a new list compiled by US-based Forbes magazine. Blessed with the third-largest natural gas reserves in the world, the Arab Gulf emirate of 1.7 million people is benefiting from a rebound in oil prices. Adjusted for purchasing power parity (PPP), Qatar has an estimated gross domestic product per capita of $88,222.

This fuming hot and sandy country nevertheless quit and peaceful place has been named the World’s richest country by the US-based Forbes magazine. Qatar or The State of Qatar is known as a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of Arabian Peninsula. It was previously a British Protectorate which became independent in 1971. Qatar is the world’s third largest natural gas reserved and just like progressive Arab Countries, majority of Qatar workforce are expatriates.

If you have been living in Qatar, perhaps you have been enjoying the comforts of life that this country offers. In the next ten years it is expected that Qatar will invest over $120 billion in the energy sector.

2.Luxembourg 

 It is ranked second richest country in the world with a per capita GDP on a purchasing-power parity (PPP) basis of $81,466.

The economy of Luxembourg is largely dependent on the banking, steel, and industrial sectors. Luxembourgers enjoy the second highest per capita gross domestic product in the world (CIA 2007 est.), behind Qatar. Luxembourg is seen as a diversified industrialized nation, contrasting the oil boom in Qatar, the major monetary source of that nation.

Although Luxembourg in tourist literature is aptly called the "Green Heart of Europe", its pastoral land coexists with a highly industrialized and export-intensive economy. Luxembourg enjoys a degree of economic prosperity almost unique among industrialized democracies.

In 2009, a budget deficit of 5% resulted from government measures to stimulate the economy, especially the banking sector, as a result of the world economic crisis. This was however reduced to 1.4% in 2010.

3.Singapore

 

Singapore has a highly developed capitalist mixed economy; the state owns stakes in firms that comprise perhaps 60% of the GDP through entities such as the sovereign wealth fund Temasek. It has an open business environment, relatively corruption-free and transparent, stable prices, low tax rates (14.2% of GDP) compared to other developed economies, and one of the highest per-capita gross domestic products (GDP) in the world.The country’s GDP (PPP) per capita is $56,694 (estimated from 2009).

                     Its innovative yet steadfast form of economics that combines economic planning with free-market has given it the nickname the Singapore Model. Exports, particularly in electronics and chemicals, and services provide the main source of revenue for the economy, which allows it to purchase natural resources and raw goods which it does not have.

4.Norway 

 

To rank the world’s wealthiest countries, Forbes looked at GDP per capita adjusted for purchasing power for 182 nations.At No.4, with a GDP (PPP) per capita of $51,959 (estimated from 2009) is Norway.The emergence of Norway as an oil-exporting country has raised a number of issues for Norwegian economic policy. There has been concern that much of Norway's human capital investment has been concentrated in petroleum-related industries. Critics have pointed out that Norway's economic structure is highly dependent on natural resources that do not require skilled labor, making economic growth highly vulnerable to fluctuations in the demand and pricing for these natural resources.

5.Brunei 

 

Oil-rich Brunei (ranked at No.5) has a GDP (PPP) per capita of $48,333. Forbes used International Monetary Fund data from 2010, the most recent available, while GDP figures for some countries were projections.

                          Brunei has the second highest Human Development Index among the South East Asia nations after Singapore, and is classified as a developed country. According to the International Monetary Fund (IMF), Brunei is ranked 5th in the world by gross domestic product per capita at purchasing power parity. Forbes also ranks Brunei as the fifth richest nation out of 182 nations due to its extensive petroleum and natural gas fields.

 

6.United Arab Emirates 

 

UAE oil reserves are ranked as the world's sixth-largest[ and it possesses one of the most developed economies in West Asia. The country’s GDP (PPP) per capita is $47,439 (estimated from 2009).Major increases in imports occurred in manufactured goods, machinery, and transportation equipment, which together accounted for 80% of total imports. Another important foreign exchange earner, the Abu Dhabi Investment Authority – which controls the investments of Abu Dhabi, the wealthiest emirate – manages an estimated $360 billion in overseas investments & an estimated $900 billion in assets.

                         As a member of the Gulf Cooperation Council (GCC), the UAE participates in the wide range of GCC activities that focus on economic issues. These include regular consultations and development of common policies covering trade, investment, banking and finance, transportation, telecommunications, and other technical areas, including protection of intellectual property rights.

7.United States

 

With a GDP (PPP) per capita of $46,860, US is ranked at No.7 on the Forbes list. According to Forbes, the PPP-adjusted GDP—preferred by economists when making international comparisons—takes into account the relative cost of living and inflation rates, rather than just exchange rates, which may distort real differences in worth.

                                                           In August 2010, the American labor force comprised 154.1 million people. With 21.2 million people, government is the leading field of employment. The largest private employment sector is health care and social assistance, with 16.4 million people. About 12% of workers are unionized, compared to 30% in Western Europe. The World Bank ranks the United States first in the ease of hiring and firing workers. In 2009, the United States had the third highest labor productivity per person in the world, behind Luxembourg and Norway. It was fourth in productivity per hour, behind those two countries and the Netherlands.Compared to Europe, U.S. property and corporate income tax rates are generally higher, while labor and, particularly, consumption tax rates are lower.

8. Hong Kong 

 

 Hong Kong is renowned for its expansive skyline and deep natural harbour. As one of the world's leading international financial centers, Hong Kong has a major capitalist service economy characterized by low taxation and free trade, and the currency, Hong Kong dollar, is the eighth most traded currency in the world. Hong Kong has a GDP (PPP) per capita of $45,944.

 The territory has little arable land and few natural resources, so it imports most of its food and raw materials. Agricultural activity—relatively unimportant to Hong Kong’s economy and contributing just 0.1% of its GDP—primarily consists of growing premium food and flower varieties. Hong Kong is the world's eleventh largest trading entity, with the total value of imports and exports exceeding its gross domestic product. It is the world's largest re-export center. Much of Hong Kong's exports consist of re-exports, which are products made outside of the territory, especially in mainland China, and distributed via Hong Kong. Its physical location has allowed the city to establish a transportation and logistics infrastructure that includes the world’s second busiest container port and the world’s busiest airport for international cargo. Even before the transfer of sovereignty, Hong Kong had established extensive trade and investment ties with the mainland, which now enable it to serve as a point of entry for investment flowing into the mainland.

9.Switzerland

 Switzerland is one of the richest countries in the world by per capita gross domestic product [GDP (PPP) per capita: $41,950]. It also has one of the world's largest account balances as a percentage of GDP.Switzerland is home to several large multinational corporations. The largest Swiss companies by revenue are Glencore, Nestlé, Novartis, Hoffmann-La Roche, ABB and Adecco. Also notable are UBS AG, Zurich Financial Services, Credit Suisse, Swiss Re, and The Swatch Group. Switzerland is ranked as having one of the most powerful economies in the world.

10.The Netherlands

  

The Netherlands was one of the world’s first countries to have an elected parliament. And the benefits of democracy seem to be reaching its citizens. Its GDP (PPP) per capita is $40,973.One of the largest natural gas fields in the world is situated near Slochteren. Exploitation of this field resulted in a total revenue of €159 billion since the mid 1970s. With just over half of the reserves used up and an expected continued rise in oil prices, the revenues over the next few decades are expected to be at least that much