Europe has its fair share of wealth, with many European countries ranked as some of
the richest in the world.
With advancements in innovations and social welfare programs, over the years the inhabitants
of Europe have generally enjoyed a high standard of living.
But which countries in Europe are the richest in terms of Gross Domestic Product per capita?
And what is it about those countries that generate their wealth?
For the purpose of this list we will be using the 2017 figures for GNP per Capita as presented
by The Statistic Times.
Some of our figures may vary from other studies out there, but we like to keep our references
linked to one source here on the Infographics show.
So let’s find who are the richest of the Europeans as we count down from ten to one
– The Top Ten Richest Countries in Europe.
At number 10 is Austria.
A strong service sector, world class banking, and legal industries put this nation in firm
standing.
Some of the world’s top corporations are based here in Austria.
GDP per capita stands at around $47,000 making it the tenth largest in the European zone.
With areas of outstanding natural beauty, excellent ski resorts, and one of the most
appealing capitals (Vienna) in Europe Austria also has a healthy tourist industry.
Famous Austrians include Arnold Schwarzenegger, Adolf Hitler, and filmmaker Billy Wilder.
The name Austria derives from the Germanic word “Austro” meaning “east”, and
the Austrian flag is one of the oldest national flags in the world.
It was here that the sewing machine, a truly international machine, was invented by Josef
Madersperger.
At number 9 is San Marino which does well in exports of electronics, wines and spirits,
ceramics and furniture.
This country has zero national debt, a state budget surplus, and a GDP of $47,000 per capita.
This nation is Europe’s third smallest after Vatican and Monaco and claims to be the world’s
oldest republic.
Nestled within Italy there are no border controls so visitors are free to wander in and out
but should they wish to have a stamp in their passports this can be arranged for an administration
fee of $5.
The population here is so tiny that if everyone from San Marino went to watch a football match
in the UK’s Wembley stadium there would be 56,300 empty seats.
“If you ain’t Dutch you ain’t much” they say, and sitting at number 8 the Dutch
enjoy an estimated $48,000 GNP per capita.
The Netherlands is home to one of the busiest ports in the world – Rotterdam.
They see much of Germany’s aforementioned exports flow through that port and enjoy the
resulting revenue.
The Netherlands is also a large exporter of flowers and agricultural products.
The Dutch people are interestingly the tallest in the world with an average height of 184
centimeters for men and 170 centimeters for women.
And this nation is also the most densely populated with 487 inhabitants per square kilometer
making for a large imposing workforce.
At number 7 Sweden’s economy delivers exports of timber, iron ore, and precision equipment.
The GDP per capita here is $53,000 and the country enjoys progressive welfare benefits
owing to the high level of taxation on personal income.
Due to the country’s neutral status during World War 2 it wasn’t subject to the same
level of economic devastation that its European neighbors suffered.
In 2006 Swedes had the longest life expectancy in Europe at 80.5 years and they also enjoy
the lowest income inequality rate in the world.
Sweden also has the smallest gender employment-rate gap with only 4% more male employment than
female.
Most Swedish women do not have their first child until they reach 30 years of age, which
helps explain the equal employment levels and the high levels of national and personal
wealth.
Number 6 is Denmark.
With a GDP per capita for 2017 of $56,000 the Danes have a mixed economy based on services
and manufacturing.
Although human resources make up the bulk of the Danish economy they do exploit some
natural resources including oil and gas wells in the North Sea.
With one of the highest standards of living in the world, Denmark is a real example of
how to run a nation.
Their main exports are made up of fuels, chemicals, machinery and instruments.
Other countries owe more to Denmark than she owes to them and Denmark is the fourth country
on the OECD list of those giving foreign aid.
But life isn’t exactly a beach in Denmark where it is known to either rain or snow every
second day.
Iceland sits at number 5 on our list.
The country was settled sometime in the 800s by Vikings and twelve hundred years later
overcame the 2007 to 2010 financial crises rising to become a strong European nation
with a healthy fishing industry and bountiful energy resources.
The GDP per capita is estimated to be $70,000, pushing it past Denmark.
The country is famously known as a home for elves, and packed with mythical stories about
these creatures.
Construction projects are postponed if it is believed that the little people’s homes
will be disrupted, and you have to love the Icelanders for that if not for their economic
success and compact football team.
Ireland, the Celtic Tiger, has flourished in the fields of alcoholic drinks and financial
services, software and medical technologies.
GDP per capita is currently measured at $71,000 bringing this nation to number 4 on our list.
The economy of Ireland is heavily invested in the knowledge economy focusing on high-tech
services, life sciences and financial services.
The Irish consume an average of 131 liters of beer per person per year – and that’s
the 2nd highest per-capita beer consumption in Europe after the Czech Republic.
But they export much more than that with famous breweries such as Guinness, Harp, and Kilkenny
internationally recognized outside of the Shamrock Isle.
Norway is the third richest European nation with bountiful natural gas and hydroelectric
power.
With a GDP of $74,941 per capita, and a population of 5.2 million this “City of the Midnight
Sun” is also a geographically beautiful place to live and a comfortable place to bring
up a family.
The Norwegians invented the paper clip and were the first people to introduce salmon
sashimi to the Japanese.
They have a rich source of oil and gas in the North Sea to keep their economy ticking
along soundly.
In 1251, Henry III of England was presented with a polar Bear by the King of Norway.
Henry kept the polar bear in the Tower of London on a long chain and allowed the beast
to swim in the River Thames, which no doubt put the fear of God into thirteenth century
Londoners who happened to be merrily passing along the London river banks.
Switzerland is known globally for its high-end precision watches and lock-knives and sits
neatly poised here in our list at number 2 with a GNP of 80,591.
This nation is also home to Nestlé, one of the biggest food producers in the world.
With a robust pharmaceutical and chemical industry, Switzerland trades heavily with
the US and other European nations.
The Swiss are also big on cheese, being home to over 450 different types and being a past
winner at the world Championship Cheese Contest.
Swiss people usually marry a bit later in life than their other European cousins with
an average age of 31 for men and 29 and a half for women.
Luxemburg has the highest GDP of all European countries clocking in at a massive $105,803
and with a quality of life to match.
It’s also the second richest country in the world.
The iron and steel industries here provide the solid backbone of the country’s economy
for many years.
This founding member of the European Union enjoys high levels of prosperity with strong
growth and unemployment levels well below the European average.
With low energy costs and a stable government the country is gaining interest for a new
hub for the new information economy of the 21st century.
Just under half of Luxemburg’s residents are foreign, and over 170 different nationalities
live in Luxemburg with the Portuguese making up the largest body of expats at 16.4 percent
of the total population.
In Luxemburg euthanasia and assisted suicide is legal in this progressive rich European
nation making it the perfect country to both live and die in.
A late addition to our list is Monaco.
So while Monaco, the tiny principality situated on the French mediterranean coast doesn’t
make it into our list as most statisticians disclude it as a proper European country,
we are giving it a special mention here.
It has a staggeringly high GDP per capita of $160,000 putting it above all the other
recognized countries on the official list and a true resort for the rich and famous.
Way to go, Monaco.
So there we have it, the ten richest European countries- which country would you most like
to live in?
Does richest mean happiest?
Let us know in the comments.
Also be sure to check out our other video Top 10 militaries in the world.
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