What is the wealthiest country in the world? There are many ways to measure the wealth and success of a country as a whole, including GDP per capita, household income by country, and median wealth per capita. Median wealth per capita is among the most comprehensive measurements of wealth by country — we will explain why below! The team at TitleMax has explored data from Credit Suisse’s annual Global Wealth Databook as well as the Organisation for Economic Co-operation and Development’s Better Life Index to present the richest countries per capita based on median wealth. Check it out:

What Does “Median Wealth” Mean?

Median wealth is considered the most accurate measure when interpreting the overall financial health of a set of people. The median is the number that is in the middle of all of the values. For example, let’s say you have data on the total wealth of 100 individuals. Median wealth would be the number right in the middle — 50 people have less than that amount, and 50 people have more than that amount. This creates a more fair and comprehensive view of the wealth of a country because it reduces the impact of extreme outliers. For example, if you were to determine the average net worth of Millennials in the U.S. by simply combining all of their wealth and dividing it by the number of people (which is how you determine mean net worth), you would have to factor in people like Mark Zuckerberg, who is worth around $50 billion, and this would significantly skew the numbers, especially if the country has significant wealth inequality. If you’re curious about the median wealth in the U.S., by the way, the American median wealth per capita is $93,271.

What Is the Wealthiest Country?

What country has the most wealth per capita? The richest country in the world based on the median wealth per capita of the adult population is Iceland, with a median wealth per adult of $375,735! Why is Iceland so wealthy? Many factors contribute to why Iceland is so successful financially. According to CountryReports.org, Iceland unites a “capitalist structure and free-market principles with an extensive welfare system.” Excluding a brief period of struggle during the 2008 financial crisis, Iceland has experienced extensive growth, low unemployment rates, and an impressively even distribution of income. The economy of Iceland is well-diversified, focusing on both the manufacturing and service industries, with particular success in tourism, software development, and biotechnology. In fact, tourism accounts for 39% of Iceland’s annual export revenue, 10% of the country’s GDP, and 15% of the workforce. During the devastating financial crisis of 2008, the Icelandic government developed plans to harness the power of tourism to help save the economy, to exceptional success!

There is also an abundance of geothermal and hydropower sources in Iceland, making it appealing for high-tech firms seeking to establish data centers using affordable green energy.

Here are the top 25 richest countries in the world based on median wealth per capita:

1. Iceland: $375,735
2. Luxembourg: $350,271
3. Australia: $273,903
4. Belgium: $267,887
5. New Zealand: $231,257
6. Hong Kong: $202,376
7. Denmark: $171,175
8. Switzerland: $168,084
9. Canada: $151,248
10. Netherlands: $142,994
11. United Kingdom: $141,552
12. France: $139,169
13. Norway: $132,482
14. Japan: $119,999
15. Taiwan: $113,938
16. Italy: $112,138
17. Spain: $104,163
18. Qatar: $100,014
19. Malta: $97,524
20. Sweden: $95,051
21. United States: $93,271
22. South Korea: $93,141
23. Singapore: $93,133
24. Israel: $92,426
25. Ireland: $91,591

What is the median wealth per capita worldwide? The global median wealth per capita is just $8,360. Here is the breakdown of median wealth per person by continent or region:

• North America: $95,255
• China: $28,258
• Europe: $26,385
• Asia-Pacific (excluding China and India): $5,218
• Latin America: $5,139
• India: $3,457
• Africa: $1,111

The 50 Countries With the Highest Median Wealth per Capita