Financial news: Richest countries in the world by per capita basis
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Where did I get these charts from?
I love visualcapitalist.com Click here to view some of their amazing charts. I saw one of their latest ones today; richest countries in the world by GDP per capita. Here are two informational charts for everyone to take a look. Then to strive towards those numbers too. 🙂
First one shows us the GDP per capita for the top 10 countries in the world; their GDP per capita in USD show that they are above all other countries. It does not mean their richest are the richest yeah. It meant that their country’s GDP divided by the number of population they have meant that they are richest in the world. So, if the country has a smaller population, it does help a little even if the GDP is also due to the population’s hardwork too.
The second one shows the world’s ranking in GDP per capita on an overview basis.
Let’s talk about the two countries closer to us, Singapore and Australia. A Singaporean has a GDP per capita of US$84.5k and this is around RM373,000. Meanwhile an Australian would have a GDP per capita of US$68k which is equivalent to RM300,000.Please note that this is not about how wealthy the people is where incomes are concerned. However, it does give a very good guide as to how much the government is able to spend for its people since the GDP per capita is very high.
Where is Malaysia?
We are 67th in GDP per capita out of 190 countries listed by visual capitalist. Still okaylah. What about the bottom countries then, who are they? Image right after.
Benchmarking our income against these numbers maybe?
Within the top 10 GDP per capita countries, Denmark is at number 10. The population has a GDP per capita of US$66,394 which is around RM294,000. If we compare this number to our current yearly income, are we already above or are we still below it? It’s a comparison of apple versus orange but if we are above it, we can still safely say that we are above the average population in a top 10 richest country in the world by GDP per capita.
If you like to know the average income for people in Denmark is DKK 45,481 per month. That’s roughly RM29,443 per month. Or if we count this per year, it’s RM353,316. Source: www.dst.dk This number is higher than the GDP per capita. Meanwhile the income tax could be up to 52% for the Danes. Source: taxsummaries.pwc.com
Happy knowing all these additional numbers.
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