The top 10 richest countries in Europe have been revealed – but the UK is no where near the top spot.
In fact, perhaps shockingly, the UK sits at number 14 meaning it’s not even close to being one of the highest earning countries.
Europe is home to some of the largest and most sophisticated economies in the world but it’s not easy to guess which countries might be the richest.
According to Visual Capitalist these 10 countries are the most wealthy based on current US dollar rates.
GDP per capita is the Gross Domestic Product per person, it is an economic metric used to evaluate a country’s financial output.
Economists use GDP per capita to determine the prosperity of countries based on their economic growth.
It is calculated by dividing the GDP of a nation by its population.
Countries with a higher GDP per capita tend to be those that are industrial and developed and have smaller populations compared to others, though there are notable exceptions like the United States, which has a high population and has a high GDP per capita.
Luxembourg, Ireland and Switzerland are the top three richest countries with a GDP per capita of over $100,000 (£79,540) each.
Not only does Luxembourg have the highest GDP per capita in Europe, but it is also the highest in the world.
At fourth and fifth place is Norway and Iceland which also have a high GDP per capita.
Also making the top 10 are Denmark, the Netherlands, San Marino, Austria and Sweden.
Europe’s biggest economies include Germany, UK, and France, which rank in the top 20 with GDP per capita of around $50,000 (£39,770).
Towards the lower end of the scale, Eastern Europe as a whole tends to have much lower per capita GDPs – Ukraine ranks last, at $5,660 (£4,501).
Outside of Europe, other countries which have a high GDP per capita include Qatar, Singapore, the United States and Australia.
The top 10 richest European countries are:
Luxembourg – $131,380 (£104,499)
Ireland – $106,060 (£84,360)
Switzerland – $105,670 (£84,360)
Norway – $94,660 (£75,292)
Iceland – $84,590 (£67,282)
Denmark – $68,900 (£54,803)
Netherlands – $63,750 (£50,706)
San Marino – $59,410 (£47,254)
Austria – $59,230 (£47,111)
Sweden – $58,530 (£46,554)
Figures for the research were obtained from the International Monetary Fund.
