Luxembourg, 2nd richest country in the world and 2nd highest wages in Europe

According to a recent analysis of the Global Finance Magazine, Luxembourg is the second richest country in the world behind Qatar and ahead of Singapore. Theses 3 country are the richest in the world, but they also have the particularity of being some of the smallest ones two.

 

Cet article est aussi disponible en français ici.

 

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This ranking is based on the data of the IMF, taking into account the GDP per capita, the Purchasing Power Parity, the cost of life and inflation rates to compare the different living standards of different nations. It should be noted that some very small countries have not been counted in this analysis.

 

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Qatar is then the richest country in the world over the period 2009-13 whereas the democratic republic of Congo was the poorest over the period 2010-13.

At the second position, Luxembourg comes with a GDP per capita of 79,593,918. The Global Finance Magazine even underlines that this high numbers is due to the numerous trans-border workers from France, Belgium and Germany who work in this small country.

 

Here is the ranking table of the top 23 richest countries in the world:

 

Top 23 des pays les plus riches au monde selon le Global Finance Magazine

Top 23 des pays les plus riches au monde selon le Global Finance Magazine


 

And what about the highest wages in Europe?

The OFS recently led a survey about the comparisons between average annual gross wages for an equivalent full-time position within the industrial sector and goods and services, (firms with/more than 10 employees) in Europe.

The verdict was that bringing all the reference currency to a virtual commune one: PPS (Power Purchasing Standard), the highest wages were in Switzerland, followed by Luxembourg and Belgium! Once again, the Grand-Duchy is at the second position, which might give us some ideas!

 

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