The economic strength and viability of a country often get encapsulated in certain vital indicators, one of which is the Gross National Income (GNI) per capita. Distinct from Gross Domestic Product (GDP), GNI per capita represents the value brought into a nation through products, services, and international business transactions. While GDP measures domestic production's economic impact, GNI nuances this image by providing insight into international income flows and offers a less distorted view by accounting for tax sheltering activity.
Analyzing European nations through the lens of GNI per capita, the data points to significant economic disparities, shaping the economic panorama of the continent. From the affluent corners of Switzerland to the comparatively humble economic landscapes of Moldova, the GNI per capita unveils Europe's diverse economic narrative.
Key findings from the data include:
Topping the list as the richest European country is Switzerland, boasting an impressive GNI per capita of $88,000. The Isle of Man, a self-governing jurisdiction with immense wealth housed in its e-gaming and information/communication technology industries, follows with $83,200.
Ranked third is Norway with a GNI per capita of $78,300, known for its oil, gas reserves, and a well-functioning welfare state. This is followed closely by Iceland with a GNI per capita of $72,900, owing to its strong emphasis on fisheries, renewable energy, and a growing tourism sector.
Luxembourg, a tiny nation but a significant global player in the banking, insurance, and steel industry, claims the fifth spot with a GNI per capita of $70,800. Ireland and Denmark fall comfortably into the esteemed group of wealthiest European nations with their GNIs per capita standing at $63,500 and $62,700 respectively.
Completing the top tier, we have Sweden, the Netherlands, and Austria, with respective GNIs per capita of $53,800, $53,000, and $51,400. These nations are characterized by their highly-skilled labor force, robust industries, and high living standards.
10 Richest Countries in Europe:
To sort the data in the table, click on the column headers.