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Knowing The World's Richest CountriesBY: Eve | Category: Politics | Post Date: 2010-02-11
Wouldn't it be fun to know which countries are the richest in the whole wide world? One would always come to think of the America, or the UK in Europe or an Asian country like Dubai to fall into the richest category. To define ‘richness' you have to focus in terms of financial earnings and profits of the countries. The idea of the countries in the category of being among the ‘richest' simply refers to the gross domestic product (GDP) and the money-oriented achievements these countries have achieved. The GDP is an economic factor that sizes up the economic conditions and the prevailing way of life of a country. However, a more accepted method to measure such parameter is the one adapted by international groups like the International Monetary Fund (MDF), The World Bank and the United Nations. The GPD per capita also referred to as Purchasing Power Parity is applied by statisticians to come up with the list of the richest or poorest countries in the world. A case in point is, if GDP is the only consideration to qualify a country to be rich, the results would be different. The GDP of China compares closely with that of America. But if the GDP per capita is used, China lags so far behind America because of the big population; the per capita includes the living conditions of the population and the earnings and profits of the Chinese people which don't really have high economic incomes as individuals compared to America. In the Middle East, Qatar may be considered one of the richest countries due to its smaller population compared to the other nations in that part of the world. Singapore can be considered rich compared to America because of its small population, its good standard of living and terms of profits and earnings. Also included factors to be in the richest country category are the accepted standard of living, the health conditions and educational states or achievements of its citizens. As of the 2009 data, the richest country in the worlds is Luxembourg. It is referred to as the -Green Heart of Europe- and its location is in the Northern part of Europe. It has the highest GDP per capita and is compared closely to Norway that is known for its monetary affluence and also compared to Qatar which is a country that is considered rich because of its rich resources of petroleum and black gold. Ranking first is Luxembourg, then Norway, Qatar, Switzerland, Denmark, Ireland, Netherlands, United Arab Emirates, United States and Finland. If you take note, the richest countries have smaller populations with the exception of America. Their GDP per capita has made these countries in the ranking they are in. Though not in the top ten, Singapore, China, India and Japan have continually grown to have better economies, better profits and their monetary success have led them to be considered rich countries as well. Article Source: http://www.writearticles.org About Author / Additional Info: Additional Articles: * Dogs - Choose the Right Doggy Foods for Them * Women's Health: Post Tubal Ligation Syndrome, Effects and Treatments * Travel to Ajman * Finding Something Truly Unique on the Internet * You can loose weight without strenuous workout-trainings Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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