The Richest European Country 2020

Luxembourg – $112,045

Luxembourg is the richest European country on this list and any other list out there on the internet. 

Despite the fact that Europe has a large economy, not all the countries are the same. Some are economically big while others are small. With this post on the richest European country, we intend to compile the top 10 richest from the bulk that makes up the European union.

It would amaze you to note that sometimes it is not the biggest and most popular countries that come top in matters like this. Just like the currency with the highest value that is the Kuwait Dinar that goes for 1 KWD = 3.24 USD, instead of the currencies of the most powerful countries in the world.

The EU as a whole is the second wealthiest and second largest economy in the world.

And in order to calculate the wealth value of these countries, we shall be using the GDP per capita as the measurement standard.

The GDP per capita, is a measure of a country’s economic output that accounts for its number of people.  A country’s gross domestic product (GDP) is divided by its total population to get a GDP per capita.

A good measurement standard of a country’s standard of living, that is calculated based on the individual prosperity level of the citizen.

The Richest European Country

1. Luxembourg – $112,045

Luxembourg is the richest European country on this list and any other list out there on the internet. The country’s small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment.

The economy of Luxembourg is largely dependent on the banking, steel, and industrial sectors. With Banking being the largest sector in the Luxembourg economy.

Luxembourg is a financial powerhouse , with the financial sector accounting for more than 35% of GDP. Luxembourg is the world’s second-largest investment fund asset domicile, after the US, with $4 trillion of assets in custody in financial institutions. [1]

2. Switzerland – $82,950

3. Norway – $82,711

 

4. Ireland –  $77,771

5. Iceland – $75,700

6. Denmark – $63,829

7. Sweden – $51,242

8. Austria – $53,764

 

9. Netherlands –  $53,016

10. San Marino – $44,947

 

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