Data Source: World Bank, IMF
The Heights of Prosperity
The 2024 GDP PPP per capita data reveals striking global economic disparities. Luxembourg leads the world with $151,146 per person, closely followed by Singapore at $148,186. These two nations exemplify different paths to extreme prosperity—Luxembourg through financial services and high-value industries in Europe, and Singapore through strategic positioning as a global trade and financial hub in Asia.
Small States, Massive Wealth
The data highlights an intriguing pattern: many of the world’s wealthiest nations by this measure are small states or territories. Macao ($130,417), Monaco ($120,935), Qatar ($115,075), and Liechtenstein ($111,260) all demonstrate how specialized economies with small populations can achieve extraordinary levels of wealth per person. Ireland’s impressive $127,750 figure showcases its successful transformation into a high-tech economy and corporate hub.
Established European Prosperity
Traditional European economic powerhouses maintain strong showings, with Norway at $103,446 and Switzerland at $95,837. These nations benefit from strong social systems, stable governance, and specialized high-value industries.
The Bottom of the Scale
In stark contrast, the poorest nations demonstrate the severe economic challenges facing parts of the world. South Sudan ranks at the very bottom with just $763 per capita, followed by Burundi ($986) and the Central African Republic ($1,296). These figures represent approximately 0.5-0.9% of the per capita GDP of the wealthiest nations.
The Scale of Global Inequality
The gap between Luxembourg’s $151,146 and South Sudan’s $763 represents a staggering 198:1 ratio—highlighting the extreme economic inequality that persists in our global economic system. Even within the bottom ten, the disparity is significant, with Niger’s $1,978 being more than 2.5 times South Sudan’s figure.
Regional Patterns
Most of the poorest nations are concentrated in Sub-Saharan Africa, reflecting historical, structural, and ongoing challenges in economic development. The appearance of North Korea ($1,776) on the list highlights how political systems and international isolation can severely impact economic outcomes.
Looking Forward
These figures underscore the critical importance of sustainable development initiatives, international aid efforts, and economic reforms to address these extreme disparities. While the wealthy nations continue to prosper through specialization, innovation, and favorable positioning in the global economy, the poorest nations face complex challenges requiring multifaceted solutions.
Understanding these disparities is essential for effective global economic policy and targeted development initiatives aimed at reducing extreme inequality while promoting sustainable growth across all regions.
Source: Based on data from the World Bank and International Monetary Fund (IMF), 2024
