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Luxembourg Tops Global Wealth Rankings, Leaving UK Behind

2024-10-13 09:39:26.888000

In 2024, Luxembourg has been recognized as the world's richest country, boasting a GDP per capita of $143,743 (£109,000), which is more than double that of the UK, where the GDP-PPP per capita stands at £58,880. This significant economic achievement highlights Luxembourg's steady growth since 2010, driven by its status as a major financial services hub, home to over 155 banks. Additionally, Luxembourg's economy benefits from a robust steel industry and favorable corporate tax rates, contributing to its impressive export figures of $31.6 million (£24.1 million) in 2023. In contrast, the UK ranks 31st in GDP-PPP, failing to secure a position in the top 30 wealthiest nations. This stark contrast in economic performance underscores the challenges faced by the UK in maintaining its global financial standing. [f4cec7bb] Furthermore, Taiwan has recently been ranked as the 14th richest country in the world, with a GDP per capita of $76,860, surpassing Hong Kong's $75,130. This ranking, released by Forbes, reflects Taiwan's economic resilience and growth amidst global competition. The top three wealthiest nations remain Luxembourg, Macao, and Ireland, with Luxembourg leading the pack. [e6b849d7]

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