America was ranked only world No.7. So, which country the most prosperous?
Economic strength of a country is usually measured by Gross Domestic Product (GDP). Given that figure, the United States is still occupying the highest position as a rich country beyond China and Japan, last August.
However, GDP can not reflect the real wealth of nations because it could be money that was highly concentrated in a number of entrepreneurs, not government. That is why the value of Gross National Income (GNI) becomes important to measure the wealth of a country.
Here are 10 countries with the highest GNP per capita, based on the latest World Bank data, the Daily Finance:
6. Singapore
GNI per capita: $ 50.780
Illiteracy rate: 5%
The unemployment rate: 3.95%
Budget education spending per GDP: 2.2%
Singapore promotes itself as a friendly port for international trade. Local authorities are very strict control of people’s economy through advances in electronics and pharmaceutical industries. In addition to promoting the general welfare and public services, the government is very concerned about the education level of society.
7. United States
GNI per capita: $ 46.760
Illiteracy rate: 1%
The unemployment rate: 9.6%
Budget education spending per GDP: 5.6%
The population and geographical conditions make this superpower does not emerge as the richest country in the world. Even the unemployment rate twice Luxembourg. The country is promoting capitalist economy that was not too prioritize social programs. However, these countries did not hesitate to spend big budgets on education. Although quite advanced, socio-economic disparities in this country quite obvious.
8. Hong Kong
GNI per capita: $ 44.090
Illiteracy rate: 3.4%
The unemployment rate: 3.6%
Budget education spending per GDP: 3.3%
This country’s economy relies heavily on re-export of products. Hong Kong benefited from the economic transition industrial exporters to the international banking center. Government of Hong Kong’s pro-free trade. The country is prioritizing its budget on public welfare and education of its citizens.
9. Switzerland
GNI per capita: $ 43.440
Illiteracy rate: 1%
The unemployment rate: 4%
Budget education spending per GDP: 5.3%
Swiss people have benefited from government policies that are very business friendly. This makes Switzerland a center of investment and international banking. Tax policy is very light also makes Switzerland grow like a paradise for wealthy businessmen of the world to spend their money. The service sector has grown prosperous to meet the demands of these groups. The country also received huge profits from the export of industrial machinery and chemicals.
10. Netherlands
GNI per capita: $ 40.940
Illiteracy rate: 1%
The unemployment rate: 3%
Budget education spending per GDP: 5.5%
The Dutch government played an active role in maintaining high living standards for its citizens. The Netherlands is a model of social liberal economic policies and laissez-faire. The Netherlands has a free market economy, which supported the market power of the petroleum refining and electrical machinery industries. Liberal social policy sector also generates revenue through illicit drugs and sex tourism.
