By Joshua Tosin Ogunsakin 
Despite economic challenges worldwide, some countries have continued to maintain their strong financial position in terms of Gross Domestic Product (GDP) per capita. The countries that dominate this year’s list are regarded as the richest. However, these countries’ economic strength stems from their efforts in financial sectors, pharmaceuticals, hospitality, technology, and energy.
The GDP per capita is used to measure the value of goods and services produced in a country. It is feedback that shows the economic prosperity of a country.
Here are the richest countries in the world by GDP per capita according to IMF:
1. Luxembourg
Luxembourg tops the list as the richest country in the world with 154,914 dollars in GDP per capita. This is made possible through the well-structured and developed financial sector in the country. Luxembourg also creates favourable environments for businesses to thrive.
2. Singapore
Singapore is the second richest country in the world with 153,608 dollars in GDP. The country is known to have a strong financial system, trade and technology — all have been helping the economic growth of Singapore.
3. Macau SAR
Macau SAR is an administrative region in China, created specially to oversee governing and economic systems different from mainland China. Its economic growth can be traced to gaming, hospitality, and tourism. The GDP per capita income is 140,245 dollars.
4. Ireland
Ireland’s economic strength lies in pharmaceuticals, finance, and technology. These are what earned Ireland the fourth position with a GDP per capita of 131,548 dollars.
5. Qatar
Qatar has a strong economy supported by exports, natural gas, and various investments. Its GDP per capita is 118,761 dollars.
6. Norway
Norway benefits enormously from its oil and gas sector including its welfare system. These are what strengthen the country’s economic system. Norway’s GDP per capita is currently 106,540 dollars.
7. Switzerland
Switzerland’s GDP per capita stands at 98,144 dollars. The country’s strong exports, banking sector, and pharmaceutical industry are responsible for its economic growth.
8. Brunei Darussalam
Brunei Darussalam is a country in Southeast Asia. It ranks eighth among the richest countries in the world. The country’s GDP per capita is 95,038 dollars. The economy is strengthened by their oil and gas production.
9. Guyana
Guyana is a country on the north coast of South America. The country’s expansion of oil reserves has contributed immensely to the growth of the economy. Guyana’s GDP per capita is 91,383 dollars.
10. United States
The United States economy is driven by diverse ventures; ranging from manufacturing, finance, technology, and services. Its current GDP per capita is 89,677 dollars.