Wednesday, August 10, 2011

Top 10 Financially Powerful Countries

Over the past few decades, the world economy has been influenced by so many factors, i.e. oil, wars, drought and technology amongst others. Whereas, the countries who have made significant improvement in their economies, are financially powerful thus rich, that is in respect to CIA World Factbook as well as Wikipedia which is gauged by GDP per capita. Here is a list of countries.

1. Luxembourg – $80,800
Luxembourg is a minute country,8th smallest country in the world.that has a population that does not exceed 500,000. But there are over 250 financial institutions located in that tiny country. It is the only country that has got the largest concentration of banks within the European Union and most likely the whole world. Once in high school, the main language is English, despite that fact that they speak Letzebuergesh.

2. Qatar – $75,900

Located in UAE, a purely Arabic speaking country with a population not exceeding a million individuals is Qatar. It achieved its independence in 1971 from the British colonialists. It changed itself significantly with the discovery of oil and natural gas which are the country’s major revenue earners.

3. Norway- $55,600

Norway is one of the most developed nations in Europe. Its main source of revenue is oil and natural gas. However, it has one of the highest costs of living, i.e. 30% above United States in spite of its wealth.

4. Kuwait – $55,300

At number four is Kuwait, a small country in the Middle East that is constantly faced with conflicts, located on the coast of the Persian Gulf and neighbors Saudi Arabia and Iraq.Its most of revenue is generated from oil exports.

5. United Arab Emirates – $55,200

United Arab Emirates is rich in oil and natural gas than any other country. This has enabled it to have one of the highest developed economies of the world. The country has so much money that they even lack ideas as to what to do with it. There are several artificially built Islands and the most magnificent buildings of the world

6. Singapore- $48,900
Singapore is a small country which is made up of 63 islands and a few mainland consisting of approximately 270 square miles. Despite its small size, it has one of the busiest ports in the globe and the 4th biggest foreign exchange market in the world. Unlike other countries, investors consider it as one of the friendliest economies to invest in.

7. United States- $46,000

The United States of America is distinct in the group as a result of its size. Whereas, countries listed so far in this list are smaller in size, the United States has a population that exceeds 300 million people on a 9.83 million square kilometer. Some of the world’s renowned billionaires reside in the United States. Nonetheless, the United States economy has been riddled with so many occurrences which have greatly affected its growth.

8. Ireland- $45,600

Ireland which forms part of the European Union has one of the most flourishing economies in the European region. Unknown to some, Ireland is the largest developer of computer software worldwide.

9. Equatorial Guinea- $44,100

Not so many people have heard of this country located somewhere in Central Africa. The country owes it large economic growth as a result of oil discovery in 1996.

10. Switzerland- $39,800
Switzerland is well known for its cheese making and being a neutral player in the global happenings. In fact, a majority of people residing in Europe deposited their money in the country knowing well that they will be well looked after.

via[top-10-list.org]

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