The 2024 World Bank and IMF data presents a fascinating picture of global economic prosperity as measured by GDP per capita. This metric provides crucial insights into the standard of living and economic efficiency across different nations.
Countries with the Highest GDP per Capita (2024, in USD)
| Rank | Country | GDP per Capita (USD) |
|---|---|---|
| 1 | 🇱🇺 Luxembourg | $135,321 |
| 2 | 🇨🇭 Switzerland | $106,098 |
| 3 | 🇮🇪 Ireland | $103,500 |
| 4 | 🇳🇴 Norway | $90,434 |
| 5 | 🇸🇬 Singapore | $89,370 |
| 6 | 🇺🇸 United States | $86,601 |
| 7 | 🇮🇸 Iceland | $85,787 |
| 8 | 🇲🇴 Macao | $77,186 |
| 9 | 🇶🇦 Qatar | $71,568 |
| 10 | 🇩🇰 Denmark | $69,273 |
| 11 | 🇳🇱 Netherlands | $67,984 |
| 12 | 🇦🇺 Australia | $65,966 |
| 13 | 🇸🇲 San Marino | $59,841 |
| 14 | 🇦🇹 Austria | $58,669 |
| 15 | 🇸🇪 Sweden | $57,213 |
| 16 | 🇧🇪 Belgium | $56,129 |
| 17 | 🇩🇪 Germany | $55,521 |
| 18 | 🇫🇮 Finland | $54,774 |
| 19 | 🇨🇦 Canada | $53,834 |
| 20 | 🇭🇰 Hong Kong | $53,165 |
Leading Economies
Small State Success
Luxembourg leads globally with an impressive $135,321 per capita, demonstrating how smaller nations with specialized economies can achieve remarkable economic efficiency. This is followed by Switzerland ($106,098) and Ireland ($103,500), showing a pattern where smaller, highly specialized economies often achieve higher per capita GDP.
Nordic Prosperity
The Nordic countries maintain strong positions:
- Norway: $90,434
- Denmark: $69,273
- Sweden: $57,213
- Finland: $54,774
Their consistent high rankings reflect the success of the Nordic economic and social model.
Regional Patterns
Asian Tigers
Several Asian economies show remarkable performance:
- Singapore: $89,370
- Macao: $77,186
- Hong Kong: $53,165
These figures reflect the success of their focused economic development strategies and role as global financial centers.
Western European Strength
Traditional European economies maintain robust per capita figures:
- Netherlands: $67,984
- Austria: $58,669
- Belgium: $56,129
- Germany: $55,521
Key Insights
Economic Models
The data reveals several successful economic approaches:
- Financial center specialization (Luxembourg, Switzerland)
- Tech-focused development (Ireland)
- Resource-based prosperity (Norway)
- Advanced manufacturing (Germany)
Size and Prosperity
Interestingly, many smaller nations lead in per capita GDP, suggesting that:
- Economic agility can outweigh scale
- Specialized economic niches can drive high productivity
- Smaller populations can benefit from concentrated economic activity
The 2024 figures demonstrate that economic success isn’t solely about total GDP, but rather about efficiently converting economic activity into prosperity for citizens.
