There are several things that give a country the nickname richest country in the world, for example from the per capita income of its citizens to the size of Gross Domestic Product (GDP).
However, in 2020, the economy in several countries experienced a recession, such as the United States, Germany, South Korea, and Singapore. So, are these countries still on the list of the richest countries in the world?
The following is the order of the richest countries in the world in 2020, quoted from Global Finance:
This country in the Middle East is the richest country in the world at number one with a GDP based on purchasing power parity (PPP) reaching US $ 132,886.
The source of this country’s wealth is known from its enormous reserves of oil, gas and petrochemicals. What’s more, the architectural construction of buildings to malls is so massive that it has made Qatar into the list of the richest countries in the world for 20 years.
This country, known for its casino games, actually ranks second. Before its current success, Macau was a Portuguese colony.
The economy of this gambling began to rise when Macau liberalized the gambling industry in 2001. Thanks to that, many foreign tourists have entered the country to support tourism.
The country with a population of 600 thousand people has managed to rank third richest country in the world. Luxembourg’s wealth is used for the welfare of its people by building good housing, health care and education so that the standard of living is among the highest in the European zone.
Although Singapore became independent in 1965, the country managed to advance and succeeded in becoming the richest. This is due to the rapid development carried out in order to advance the country.
Today, the country is known as a prosperous fiscal haven where there are profits, and dividends are tax free.
5. Brunei Darussalam
The country with an area of only 5,765 km² turns out to have extraordinary wealth. It is known that this wealth comes from oil and natural gas reserves.
It is estimated that this wealth reaches around US $ 28 billion or equivalent to Rp. 392 trillion (exchange rate Rp. 14,000). In fact, this wealth is more than 50 times that of Queen Elizabeth in England.
This country, which is located on the continent of Europe, is one of the countries experiencing the fastest growth. Ireland managed to rank 6th with a GDP-PPP of US $ 83,399, equivalent to IDR 1.1 billion (exchange rate of IDR 14,000).
This country which is located on the continent of West Europe has wealth from the oil sector. However, during the pandemic and falling oil prices, the Norwegian economy was dependent on exports and was also accompanied by sound economic policies, such as cutting interest rates.
Meanwhile, Indonesia ranks as the richest country in the world 2020? Based on data, Indonesia has made it into the top 100, namely serial number 98 with a GDP-PPP of US $ 13,998 or the equivalent of Rp.195 million.