Qatar, Luxembourg and Singapore are the three richest countries in the world. HERE‘s a list of the top 23 such countries.
The above edited excerpts, and the copy below, are from an article* by Barbara Tasch (businessinsider.com) originally entitled The 23 richest countries in the world which can be seen in its entirety HERE.
Based on data from the IMF, Global Finance Magazine ranked the world’s countries according to their GDP per capita (and on a Purchasing Power Parity basis to take into account living cost and inflation rates in order to compare living standards between different nations) and determined the following poorest ones. (Some small territories, such as Liechtenstein, Nauru, Vatican City, Monaco, San Marino and Andorra were not included in the study.)
Here is the list of the 23 richest countries in the world (and here’s the full study):
Incidentally, The Democratic Republic of Congo is at the other end of the spectrum and has been the poorest country in the world over the 2010-2013 period earning on average $394.25 a year (compared with Qatar where people earn an average of $105,091.42 a year).
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19 of the 23 poorest countries in the world are located in Africa. The DRC (Democratic Republic of Congo) is the poorest with its citizens earning on average $394.25 a year (compared with Qatar where people earn an average of $105,091.42 a year). Afghanistan is the first non-African country (10th place) and also the first country where the average annual income passes the $1,000 threshold ($1072.19). Here’s the complete list.
The infographic below shows the difference in living costs around the world using CPI data as a relative indicator of a country’s living costs compared to New York (for example, if a country has a CPI of 70, on average, it enjoys 30% cheaper living costs compared to New York).
This infographic shows the difference in Monthly Personal Disposable Income around the world using data from 2014. In this context personal disposable income refers to the income per person after all taxes have been paid.
For a consumption based economy asking “how much do Americans earn?” is a vital key to our long-term stability. Each household has a propensity to spend and the ability to consume is largely derived by income. Debt has made it easier for households to spend future wages but these two important reference points measure the health of total wages for households and that of individual workers.
How much does the typical American family make? This question is probably one of the most central in figuring out how we can go about fixing our current economic malaise. In this article we break down the U.S. household income numbers. Words: 464
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In a recent article* Morgan Stanley tobacco analyst David Adelman compares the average price of a package of cigarettes to how long it takes to buy that package based on minutes of work. How many minutes do you think it takes to pay off a pack of cigarettes in Canada, the U.S. etc.? Words: 557