Gross national income, or GNI, represents the sum total of money earned by a nation’s people and businesses within a given year. Unlike GDP, GNI also measures income earned by corporations based in a given country but operating outside of that country’s borders. On a per capita basis, GNI is a useful measure for assessing the wealth of a country’s population.
Using data from the World Bank, 24/7 Wall St. reviewed the GNI per capita of over 150 nations to identify the 25 richest countries. GNI per capita figures are based on purchasing power parity and are in constant 2011 international dollars. We also included life expectancy at birth from the World Bank, as well as GDP from the International Monetary Fund. Population and life expectancy at birth are also from the World Bank and are for the most recent period available. GNI per capita data ranges from 2016 to 2018.
Many of the wealthiest 25 countries in the world have complex and diverse economies, but a number of the countries on this list owe a great deal of their national wealth to a single commodity — petroleum. Several of the countries on this list are Middle Eastern countries that are highly affluent thanks to their oil reserves. These are the 15 countries that control the world’s oil. People living in wealthier nations tend to have better access to healthcare, a greater variety of healthy options related to diet and lifestyle, and a more reliable and advanced healthcare infrastructure. And partially as a result, they tend to live relatively long, healthy lives. Life expectancy at birth in a number of the countries on this list exceeds the global average of 72.4 years by more than a decade. These are the countries where people live the longest.