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10 Countries with Highest Per Capita Income, Do You Know Where India Stands - Kanigas

10 Countries with Highest Per Capita Income, Do You Know Where India Stands

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Per capita income is an average income of the population (population of a country, region, city). Per capita income is measured by dividing the income of the total population by the total population. Moreover, the per capita income is not the national income by virtue of a country consists of children and several non-working population but it indicates the average living standard of its population.

Top 10 countries with highest per capita income

Many financial and regulatory authorities (such as the World Bank, the IMF and so on) conduct and publish the per capita calculation. The GDP (Gross Domestic Product) estimation gives the actual value of goods and services of a country and helps to calculate the per capita income as well. Based on GDP per capita (PPP) and national account data calculations 2012, we enlist top 10 countries, who appear as a population with better living standards and better national income:

Qatar: GDP (PPP) per capita: $102,211 (GDP per capita data as of 2012)

Qatar GDP

 

Luxembourg: GDP (PPP) per capita: $79,785

Luxembourg GDP

 

Singapore: GDP (PPP) per capita: $60,410

Singapore GDP

 

Norway: GDP (PPP) per capita: $55,009 (estimated from 2009)

Norway GDP

 

Brunei: GDP (PPP) per capita: $54,389

Brunei GDP

 

Hong Kong: GDP (PPP) per capita: $ 51,494

Hong Kong GDP

 

United States: GDP (PPP) per capita: $49,922

USA GDP

 

Completing the list we have:

United Arab Emirates: GDP (PPP) per capita: $49,012

Switzerland: GDP (PPP) per capita: $45,418

Canada: GDP (PPP) per capita: $42,734 

India comes on the 133th position with GDP (PPP) per capita: $3,830.

The annual financial report predicted that the per capita income of developing nations would steadily increase over the next five years.

The Significance

The per capita income estimates about the business opportunities in the country or region. Example, if you are evaluating business opportunities in a region with high per capita income, you will be charged a bit more than another area. Per capita helps you figure out about the charge (price) of your product in monitory terms.

The population of a country could be in millions or billions. In regards to the total population of a country, several financial, monitory and regulatory aspects are being calculated. These aspects work as parameters that where a country stands and where the country could be over 5-10 years down the line. Per capita is one of these several aspects or parameters or templates, which roughly unravels the estimate about the living standard of the total population.

Image source: Image1Image2Image3Image4Image5Image6Image7, Image8

References: Forbes, Business dictionary

Meet the Author

Nikhil Sharma

Nikhil Sharma is a technical writer by profession. He loves technologies along with life around the world and likes to write about the effect of future and latest technologies. He observes the changes, activities, and developments across the globe and would like to share its true values to his readers. You can connect with him on Linkedin or Google+ or Facebook.

Nikhil Sharma has written 19 articles for Kanigas. Want to write for us ?

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