These highly developed nations, although small, have made a huge impact on the global economy. How ironic that smaller countries are the ones we favor here at Nomad Capitalist. Interestingly, the five richest nations are all very small countries. Using this measurement, we can get a better picture of the richest countries on the planet. With PPP, the actual value of income is reflected in the power that income has to purchase basic goods and services. As you know, government economists always twist the numbers to suit their own needs. However, most economists nowadays take into account the purchasing power parity (PPP) of a country. When defining the world’s richest countries, people tend to look at the strength of the respective economies in terms of Gross Domestic Product, or GDP.
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