When we think of economic powerhouses, the United States often comes to mind. However, many countries surpass the USA in wealth, quality of life, and financial stability. Interested in finding out which ones? Explore these 20 economic giants that outshine America in ways you might not expect.
Ireland
The country’s tech boom, driven by low corporate tax rates and multinational investments, has skyrocketed its GDP per capita well above the US. Hosting giants like Google and Apple, Ireland enjoys a strong economy. Moreover, the country’s healthy education system, high-quality healthcare, and steady economic growth contribute to its higher HDI ranking.
Luxembourg
The undisputed leader in GDP per capita, Luxembourg has a thriving financial sector that is a hub for European banking. Despite its small size, at over 125,000 USD (as of 2022), Luxembourg’s wealth dwarfs the US, pound for pound, thanks to its high wages and vibrant economy driven by finance and industry.
Singapore
This tiny city-state is an economic giant with one of the highest GDP per capita. Singapore’s business-friendly policies, world-class infrastructure, and global trading prowess make it an attractive hub for multinational companies. Its efficient healthcare system and top-notch education also help push its Human Development Index (HDI) and living standards above America’s.
United Arab Emirates
Fueled by oil and a booming real estate market, the UAE has become one of the wealthiest nations globally. Its PPP (purchasing power parity)-adjusted GDP outstrips that of the US, especially in cities like Dubai and Abu Dhabi. The UAE also boasts a high HDI, driven by solid healthcare, infrastructure, and rising education standards.
Kuwait
Rich in oil reserves, the country ranks among the wealthiest nations in the world by GDP per capita. Its small population relative to its oil wealth gives it significant purchasing power. Kuwait’s government ensures citizens benefit from this wealth through free education, healthcare, and subsidies, placing it ahead of the US in several metrics.
Brunei
The wealth of Brunei is largely derived from its thriving oil and gas industries. With one of the world’s highest GDPs per capita, Brunei ensures its citizens have a high quality of life through free healthcare and education. Its PPP-adjusted GDP and low population give it more wealth per person than larger economies like the US.
Iceland
With economy, driven by tourism, renewable energy, and a strong fishing industry, this country gains an enviable GDP per capita. Iceland’s sturdy social services, excellent healthcare, and high HDI reflect its high living standards. And the country’s solid economic fundamentals and small population mean its citizens are wealthier on average than Americans.
Denmark
Consistently ranks among the happiest and wealthiest countries, Denmark has a high GDP per capita and top-notch social services. Its diversified economy has vital agriculture, pharmaceuticals, and renewable energy sectors. Additionally, its excellent healthcare, education, and work-life balance contribute to an HDI that outranks the US.
Switzerland
Known for its banks and watches, Switzerland also ranks high in GDP per capita and quality of life. The economy is driven by banking, pharmaceuticals, and high-end manufacturing sectors. Besides, with its excellent healthcare, a steady political environment, and a stellar education system, Switzerland consistently ranks higher than the US in wealth and living standards.
Australia
A thriving economy fueled by mining, agriculture, and services gives Australia a high GDP per capita. The country’s PPP-adjusted GDP and excellent quality of life push it ahead of the US. With universal healthcare, a great education system, and a stable political environment, Australia’s high HDI is a reflection of its wealth and livability.
Sweden
The country’s social welfare model and strong economy place it among the wealthiest nations per capita. For example, its high-tech industries, clean energy initiatives, and top-tier education system contribute to its high HDI. Sweden’s balance of wealth and social equity means its citizens enjoy a quality of life that surpasses that of many larger nations, including the US.
Austria
Boasting a high GDP per capita, Austria ranks highly in quality of life. Known for its solid industrial sector, especially in machinery and automobiles, the country also combines economic growth with excellent public services. Additionally, its top-notch healthcare and education systems push it ahead of the US in terms of overall wealth and well-being.
Germany
Though it may not surpass the US in GDP per capita, Germany’s PPP-adjusted GDP and economic stability place it ahead of the US. With the world’s 4th largest economy, Germany thrives on exports like cars and machinery. Its social services, vigorous healthcare system, and high living standards give it a high HDI, ranking it among the world’s wealthiest.
Netherlands
A small country with a big economy, the Netherlands ranks higher than the US in GDP per capita and PPP. This Dutch economy thrives on exports and is known for its trade, banking, and agricultural innovation. Moreover, the Netherlands’ HDI places it among the world’s wealthiest nations, with universal healthcare, vital education, and high living standards.
Norway
Vast oil reserves, public investment, and social welfare policies make Norway one of the wealthiest nations per capita. Its high GDP in PPP terms and exceptional HDI ranking reflect its ability to balance wealth generation with a high standard of living for all its citizens.
Finland
This country’s economy, driven by high-tech industries and exports, boasts one of the world’s highest GDP per capita figures. Finland also excels in education and healthcare, contributing to its high HDI. On top of that, the high quality of life, social equity, and economic efficiency place it ahead of the US in several key measures.
Belgium
The high GDP per capita of this country capitalizes on its strategic location as a hub for European trade and a solid industrial base. Besides, Belgium is known for its excellent social services, top-tier healthcare, and high standard of living. Owing to this, it consistently ranks higher than the US in terms of HDI and economic stability.
Canada
Though its GDP per capita lags behind the US, Canada shines in PPP-adjusted GDP and HDI. With a diverse economy fueled by natural resources, tech, and services, Canadians benefit from universal healthcare, strong social services, and an overall higher quality of life than their neighbors in the South.
Hong Kong
As a critical global financial hub, Hong Kong’s GDP per capita ranks among the world’s highest. Its economy thrives on banking, trade, and international finance. And despite its small size, Hong Kong’s efficient healthcare system, low tax rates, and high living standards push it ahead of the US in many economic and quality-of-life metrics.
Qatar
Thanks to its massive oil and natural gas reserves, Qatar boasts one of the highest GDP per capita in the world. Energy exports contributed to its wealth, and it enjoys a high standard of living, with free healthcare and education. Qatar’s PPP-adjusted GDP is far ahead of many larger nations, including the US.