Global Finance Magazine - The World's Richest and Poorest Countries 2022 (2023)

FAQs

What is the poorest country in the world in 2022? ›

1. South Sudan. The Republic of South Sudan gained independence in July 2011, but has experienced a long history of conflict, displacement, and deepening humanitarian needs. As of 2021, the World Bank estimated that over 76% of South Sudanese are living in extreme poverty.

Burundi is the world's poorest country followed by Central African Republic, DR Congo, South Sudan and Somalia as the poorest. The richest countries are Luxembourg, Singapore, Ireland, Qatar and Switzerland. Soberingly, 19 of the 20 poorest countries are all located in Africa.

With a GDP of 23.0 trillion USD, the USA is by far the world's largest economy in this ranking for 2021. It is followed by China in second place with a GDP of 17.7 trillion USD.

According to McKinsey & Co, the top richest countries in the world are—China, the United States, Germany, France, the United Kingdom, Canada, Australia, Japan, Mexico, and Sweden.

The overall ranking of Best Countries measure global performance on a variety of metrics. Switzerland is the best country in the world for 2022.

By 2050, China is forecasted to have a gross domestic product of over 58 trillion U.S. dollars.

Answer: China is the world's most prosperous country. It just surpassed the United States as the world's most prosperous country. Answer: China, the United States, Germany, France, the United Kingdom, Canada, Australia, Japan, Mexico, and Sweden are the world's wealthiest countries, according to McKinsey & Co.

Who will be the richest country in 2030? ›

1st: China

By 2030 China is likely to have cemented its position as the world's largest economy. If the experts at Standard Chartered are on the money, it's set to extend its lead significantly over the USA with a bumper GDP (PPP) of $64.2 trillion (£52.1tn), putting America's economy firmly in the shade.

Iceland stands at the top of countries with the lowest poverty rates with a poverty rate of 4.9% in 2021. In 2017, Iceland's poverty rate even hit 0%, according to the World Bank.

North America has the highest continental gdp per capita by both GDP Nominal and PPP in the world. With $46,160 in nominal terms, the per capita gdp of North America is 376% of the world GDP per capita.

Who will be the next superpower? ›

By 2050, more countries are likely to be defined as superpowers, joining the United States and creating a multipolar world order. Extrapolating current economic, geopolitical, and demographic trends would suggest that China is likely to become a new superpower, although its economy is currently faltering.

United States. The United States of America is a North American nation that is the world's most dominant economic and military power.

“New York is the financial centre of the USA and the wealthiest city in the world by several measures. Perhaps most notably, total private wealth held by the city's residents exceeds US$3 trillion – higher than the total private wealth held in most major G20 countries.”

Who is the superpower in 2025? ›

India is expected to become a superpower by 2025 when its per capita income nears $5,000 from $1,000 right now, a panel of eminent speakers at the ET Leader2Leaderforum on the sidelines of the Nasscom India Leadership Summit 2011 which kicked off on Tuesday.

The United States is the richest country in the world with the highest GDP, as of 2021. China is the second richest country in the world with a $17.734 trillion GDP.

How much money does the U.S. owe to China? China owns roughly $1.08 trillion worth of U.S. debt. 2 This amount is subject to market fluctuations. The value will change whenever China trades Treasury securities or when the prices of those bonds change.

China, India, and the United States will emerge as the world's three largest economies in 2050, with a total real U.S. dollar GDP of 70 percent more than the GDP of all the other G20 countries combined. In China and India alone, GDP is predicted to increase by nearly $60 trillion, the current size of the world economy.

China is expected to hold on to the number one spot. In 2050, the Asian giant is forecast to have the largest economy on the planet. With an ageing population and an annual GDP growth rate averaging just 4.4%, however, China isn't projected to enjoy the exceptional economic growth it experienced during the 2000s.

China is now an upper-middle-income country. It will be important going forward that poverty alleviation efforts increasingly shift to addressing the vulnerabilities faced by the large number of people still considered poor by the standards of middle-income countries, including those living in urban areas.

As of 2020, China has succeeded in eradicating absolute poverty, but not the poverty defined for upper middle-income countries which China belongs to. China still has around 13% of its population falling below this poverty line of $5.50 per day in 2020.

U.S. Poverty Statistics – Race

While the poverty rate for the population as a whole is 11.6% the rate varies greatly by race. Blacks have the highest poverty rate at 19.5% and Non-Hispanic whites have the lowest at 8.1%. The Poverty rate for Blacks and Hispanics is more than double that of non-Hispanic Whites.

Is India a No 1 country? ›

It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world.

Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy. The country's main trading partners are Germany, France and Belgium.

Even before the COVID-19 pandemic and the current cost-of-living crisis are accounted for, the data shows that 1.2 billion people in 111 developing countries live in acute multidimensional poverty.

According to the World Bank, more than 850 million Chinese people have been lifted out of extreme poverty; China's poverty rate fell from 88 percent in 1981 to 0.7 percent in 2015, as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing price parity terms, which ...

The index, MPI 2022, takes into consideration three dimensions — health, education and standard of living — besides income poverty. There are 10 indicators under these on which the assessment ranks countries. But India still has nearly 229 million multidimensional poor, in absolute terms — the highest in the world.

The World Inequality Report 2022 says the world's most extreme inequality has been observed in India. It notes India is a “poor country and very unequal, with an affluent elite”.

Iceland stands at the top of countries with the lowest poverty rates with a poverty rate of 4.9% in 2021. In 2017, Iceland's poverty rate even hit 0%, according to the World Bank. Some factors contributing to low poverty are: Work Satisfaction.

Where is poverty the worst? ›

Poverty rates were highest in the states of Mississippi (19.58%), Louisiana (18.65%), New Mexico (18.55%), West Virginia (17.10%), Kentucky (16.61%), and Arkansas (16.08%), and they were lowest in the states of New Hampshire (7.42%), Maryland (9.02%), Utah (9.13%), Hawaii (9.26%), and Minnesota (9.33%).

1. United States: USD 29.3 trillion in 2026.

It is situated on the Indian Plate, projecting southwards into the Indian Ocean from the Himalayas. Geopolitically, it includes the countries of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

In the last three decades, Pakistan's HDI has increased by nearly 40%. Approximately 38% of Pakistani citizens are living in multidimensional poverty. Another 13% are vulnerable to this status. From 2004 to 2015, the multidimensional poverty rate has dropped from 55% to its current rate at 38%.

Our country is rich, but the population is poor facing starvation, unemployment, poverty, inflation, casteism, untouchability and other factors that are not good for the progress of the society," he said. "There is a need to establish social and economic equality in the society.

Myanmar. About 26% of Myanmar's population lives in poverty, particularly in rural areas, where about 70% of the population lives.

Is India a good place to live? You'll get very different responses to this depending on who you ask. Unfortunately, most expats find the work-life balance can be poor even though the cost of living is low and pay can be very high.