Officially regarded as the Republic of Austria, Austria is considered one of the least populous European countries. Meanwhile, this is a substantial level of economic development which makes Austria 9 th on our list of the top ten richest countries in Europe. On that note, and in an attempt to focus on the positive, here are the top ten richest countries in Africa. The country had a year of celebrations in 2007 to celebrate the Gold Anniversary (pun intended, as you will see later in the article) of their independence. Through St George’s Channel, the Irish Sea and the North Channel, the territory of Ireland is separated from Britain. Also, it is noteworthy that the Netherlands was part of the member states that founded the European Union. Who couldn't love a country that produces gold and chocolate? Considered one of the least populous European countries, Luxembourg has a low population estimated below 1 million inhabitants. Across the world, German citizens are revered for their expertise especially in sports. Meanwhile, its low population is one of the key factors contributing to the substantial average income of $67,037. This list uses the GDP at Purchasing Power Parity, as per the CIA World Factbook in 2012, to rank these African countries by wealth. Around the 17th century, the Netherlands became a significant influence in terms of commercial and maritime services. Currently, Equatorial Guinea is the richest country in Africa, with a per capita income of $34,865. Much like Tunisia, Morocco experienced a tourism boost in the early 21st century. Officially regarded as the Kingdom of Sweden, Sweden is said to be one of the countries of Scandinavian descents. Besides volcanoes, Iceland is best known for some notable features including lava fields, interesting landscapes, hot springs, and geysers. Unfortunately, the political instability in Egypt during the last few years has affected the tourism industry negatively. Below are the top African export countries that achieved the highest dollar value in global shipments during 2018. Based on GDP per capita, Ireland is the fourth richest country in Europe, with an average income of $77,771. Diamonds are another massive source of wealth for Angola, the country being Africa’s third largest producer of the precious stone – yet to date they've only explored 40% of the country’s potential diamond mining areas! Germany is one of the federal republics on the continent of Europe. Economic growth in Ethiopia has decreased slightly in the last few years but is still impressive in international terms. While it's pipped to the top of our list here, Nigeria sits proudly on top of Africa’s agricultural output list. Through St George’s Channel, the Irish Sea and the North Channel, the territory of Ireland is separated from Britain. Later in 2017, he was appointed as Chairman of the Board of Trustees of the Social Security and National Insurance Trust, the state pension fund by President Nana Akufo Addo. During this time, Ireland was in alliance with Great Britain but it was eventually split into Northern Ireland and the Irish Free State in 1921. Richest City in the World. While the rest of the world went through an economic crisis, Africa was something of a “little engine that could”, quietly chugging along at a respectable pace and increasing its total GDP (Gross Domestic Product) annually since the recession hit six years ago. Famously dubbed “City of Midnight Sun’’, Norway is one of the most beautiful tourist destinations in Europe. 15 Stars From The Girls Next Door, Kim Kardashian & Kanye West May Be Headed Towards Divorce, Julianne Moore's 8 Best Oscar Outfits, Ranked, Rumor Debunked On Michael Keaton Becoming The Next Batman In The DCEU After "The Flash", Trey Songz Recovers From COVID-19, Hosts 500-Person Party, 10 Crazy Details You Never Knew About Gwendoline Christie's Career, Wonder Woman 1984 To Debut On HBO Max Alongside Theatrical Release, Armie Hammer Denies Sending Disturbing Instagram Messages, The Kardashians In 2020: The Family's Net Worth At The Start Of The Decade, Chris Pine Set To Star In New Dungeons & Dragons Film. Let's take a look at the 10 richest people in Africa. This highlights the fact that a relatively small number of people are benefiting from South Africa's wealth. Why has Africa been the poorest continent throughout the years, then? Ireland is an island sitting in the 13th position among the world’s largest islands but in Europe, it is considered the third largest island. In this regard, Germany is well known for the possession of powerful automobile brands like Volkswagen. In this regard, Germany is well known for the possession of powerful automobile brands like Volkswagen. Widely recognized as one of the best places for tourism, Germany is a developed nation characterized by a mild seasonal climate. Considered a small country, Norway’s land area covers 148,747 square miles. Larry Page stepped down as CEO of Alphabet, the parent of Google, in December 2019 but remains a board member and a controlling shareholder. Oil production is another Angolan lifeline economically, providing 45% of the country’s GDP (though this pales in comparison to Libya’s 80%). Iceland is widely recognized for its high levels of volcanic activities. Top African Export Countries. Its land area stretches across the Western region of the Scandinavian Peninsula. Meanwhile, this makes it an interesting thing to discuss the, Luxembourg is a wonderful country located in the Western region of Europe. The average download speed in top spot Taiwan is 85.02 … Germany Officially regarded as the Republic of Austria, Austria is considered one of the least populous European countries. In the 16th century, England succeeded in the conquest of Ireland. Europe is undoubtedly one of the leading continents in terms of economic development. Despite this, as a continent, Africa’s economy has grown over the last few years. Its land area spans across 40,000 square miles and it is occupied by over 332,529 inhabitants. This is because many different factors can be used to determine a city’s wealth The main source of the economic growth in Algeria is its oil and gas sectors, which contributed a total of 70% to the country’s total revenue to date. This article is based only on brands. Widely known as a Member State of the European Union, Austria achieved the status of a republic in 1919. All figures are from the 2017 International Monetary Fund data. The economy of the pre-colonial Gold Coast was dependent on subsistence farming, in which farm produce was shared within households, and members … There is currently a “Ghana 2020” visionary programme in place, which aims to see Ghana gain developed status by the year 2020. As a consequence, Ireland remained a dependent State under the control of England until the early 18th century. With its population estimated fairly above 8 million inhabitants, Switzerland has been able to maintain steady economic progress with a substantial per capita income of $83,716, making Swiz 2nd on our list of richest countries in Europe. The appeal, no doubt, is due to the fact that there's a differing culture from mainland Europe to experience, with that reassuring element of familiarity in proximity. Despite being a landlocked country, Austria has the seventh-highest per capita income in Europe. Well, there are countless reports, theories and debates on this topic: Some blame the IMF’s influence and the countries' crippling debts; others blame large companies for stripping African countries of their natural resources for astonishing profits. In 2012, South Africa had 9.2 million international arrivals! In addition to enormous tracts of peat bog and a number of large lakes, Ireland consists of high mountains rising above 3000ft. In this regard, it takes the 36th position among the global ranking of countries with the highest GDP (PPP) and in terms of nominal GDP, Switzerland sits in the 2nd position. Tunisia is one of the more interesting examples on the list. Nearly half of Sweden’s land area is occupied by forest while lakes occupy about 9 percent of the remaining land portion. 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The Netherlands remained under Spanish colonialism until it attained independence in 1581 and during this time, it was regarded as the United Provinces. Angola is another one of Africa’s agricultural countries. Egypt equals pyramids, the Sphinx and the Nile. With the per capita income of $46,563, Germany comfortably secures the tenth position among the richest European countries. In 2008, he became the Minister for Interior. He established the RESTORE nonprofit organization and spends time traveling throughout third world countries to help the underprivileged people whenever he can. Did you manage to guess it correctly? Now, though, Tunisia is going through an economic reform and a liberalization of the state. The land area of Belgium spans across 11,787 square miles and it is densely inhabited by over 10 million people. The 10 Wealthiest Countries. Having been ruled by Denmark and Sweden for many years, Norway eventually attained independence in 1905. Top 10 hiplife songs 2021. Required fields are marked *. South Africans are the third-largest coal producers in the world, keeping the rest of us toasty on those chilly winter nights. 23-year-old journalist from Ireland. Switzerland became an independent nation in 1499 and its territory stretches across the Alps and the Jura Mountains. In landmass, Switzerland stretches across 15,940 square miles, making it a small country. In developed countries like Sweden and Denmark, the GINI index hovers in the low 20s. Though Austria’s landscape is packed with many tourist attractions, the city of Vienna happens to be the most notable of all. Ghana might be bringing up the rear of our list but not for long! In partnership with Luxembourg and Belgium, Netherlands founded the Benelux customs union in 1948. According to the IMF, Libya’s GDP took an almost 60% plunge into negative figures in 2011, before the 2012 rebound. Easily find everything from the perfect credit card to the right mortgage. According to the IMF, Africa is the poorest continent in the world – despite containing a fifth of the total population of our little planet. The secret to Africa’s recent comparative success seems to be its vast amount of natural resources. With the substantial per capita GDP of $52,367, Netherlands maintains one of the best standards of living both in Europe and the entire world. Top Products. What is perhaps less reported in the mainstream media is the booming Libyan economy. MONOCHROME has listed the top 10 Swiss watch brands based on estimated 2019 sales. Despite being a landlocked European country, Luxembourg enjoys robust economic opportunities, making it the richest European country. It is a less populous country with a total of 5,258,317 inhabitants. In comparison with the other European countries on this list, Austria maintains the per capita income of $50, 022. This will undoubtedly be one of the better-known countries on our list. Namibia - $11,528 Aerial View of Namibia's Capital Windhoek. As a wonderful tourist destination, Norway’s landscape consists of glamorous museums and attractive natural features like forts, glaciers, and mountains. Its territory stretches across the Eastern patch of the Scandinavian Peninsula. It also happens to be one of the fastest-growing economies, not just in Africa but in the world. Everything from cotton to gold to diamonds can be found around the continent. Luxembourg is a founding member of the European Union. Besides Amsterdam –the capital city of the Netherlands –Rotterdam is another major city in the Netherlands and it is considered the largest port on the European continent. In the world, Germany maintains the fifth largest GDP Purchasing Power Parity and in terms of nominal GDP, it sits in the 4. position among all other countries in the world. Besides Amsterdam –the capital city of the Netherlands –Rotterdam is another major city in the Netherlands and it is considered the largest port on the European continent. The largest employment sector is, in fact, the government. Currently, Belgium is estimated with an average income of $45,175 and this makes it the ninth richest European country. After 2% growth in Egypt’s GDP last year, it is expected to be back on the road to recovery with projected figures suggesting it will grow by 3.5% this year. Determining the richest city in the world can be tricky. Tourism once accounted for about 10% of Egypt’s $576 billion economy but the country has dropped by over 10 places on the list of best tourist countries in the world between 2011 and 2013 according to the WEF. In comparison with the other European countries on this list, Austria maintains the per capita income of $50, 022. In this regard, it takes the 36, position among the global ranking of countries with the highest GDP (PPP) and in terms of nominal GDP, Switzerland sits in the 2nd. Under its adequate standard of living coupled with an operative financial market, Austria continuously appears among the richest European countries as per average income. In the world, Norway possesses one of the largest merchant navies. Above that, the German government focuses on the exportation of finished products, giving Germany the third position among the world’s largest exporters of goods. In addition to enormous tracts of peat bog and a number of large lakes, Ireland consists of high mountains rising above 3000ft. Switzerland has robust achievements in terms of economic growth and development. During this time, Ireland was in alliance with Great Britain but it was eventually split into Northern Ireland and the Irish Free State in 1921. The natural resources in South Africa include diamonds, coal, platinum and many other natural minerals. By Megan Trimble , Digital News Editor Dec. 14, 2017 By Megan Trimble , … In the world, Sweden sits in the eighth position among the countries with the highest GDP per capita. Switzerland is one of the well-known European countries and it is officially regarded as the Swiss Confederation.

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