Though India has surpassed China to become one of the fastest growing economies in the world, in terms of purchasing power parity, it lags behind 129 countries.
In a survey conducted by Global Finance Magazine based on IMF’s gross domestic product (PPP) data from 2009-2013, India has scored a dismal 130 out of 184 countries.
With a GDP (PPP) of $4,060, India has a long way to go to become one of the richest countries…
GDP data per capita shows how well off the average residents are in a country. PPP considers relative cost of living and the inflation rates of the countries to reflect the state of the citizens’ wealth.
Take a look at the world’s 10 richest countries…
Qatar
Rank: 1
GDP (PPP) – 2013: $105,091.42
GDP (PPP) – 2009: $77,445.61
With the world's third largest natural gas reserves and oil reserves, Qatar is the world's richest country in terms of per capita income.
A high income, developed economy about 14 per cent of households are dollar millionaires.
Luxembourg
Rank: 2
GDP (PPP) – 2013: $79,593.91
GDP (PPP) – 2009: $76,832.29
Luxembourg prides to have a stable and high-income market economy with low inflation, and a high innovation.
Luxembourg is ranked 13th in the Heritage Foundation's Index of Economic Freedom and 4th in the Economist Intelligence Unit's quality of life index.
The economy is backed by a strong industrial sector - steel chemicals, rubber etc.
Singapore
Rank: 3
GDP (PPP) – 2013: $61,567.28
GDP (PPP) – 2009: $49,919.56
Singapore has the world's highest percentage of millionaires.
The country ranks highly in terms of standard of living, education, healthcare, and economic competitiveness.
Norway
Rank: 4
GDP (PPP) – 2013: $56,663.47
GDP (PPP) – 2009: $51,922.18
Norway has second-highest GDP per-capita among European countries.
With huge reserves of reserves of petroleum, natural gas, minerals, lumber, seafood, fresh water, and hydropower, it is the second-richest country in the world in monetary value.
Brunei Darussalam
Rank : 5
GDP (PPP) – 2013: $55,111.20
GDP (PPP) – 2009: $50,985.72
Endowed with crude oil and natural gas, Brunei is fourth-largest producer of oil in Southeast Asia.
The country promotes foreign and domestic entrepreneurship.
Hong Kong
Rank: 6
GDP (PPP) – 2013: $53,432.23
GDP (PPP) – 2009: $44,120.22
One of the three most important financial hubs in the world, Hong Kong is among the richest nations and has a high Human Development Index.
It also ranks high in terms of global competitiveness with robust infrastructure, conducive business environment, low taxation and free trade.
United States
Rank: 7
GDP (PPP) – 2013: $51,248.21
GDP (PPP) – 2009: $45,461.43
The world's largest economy by nominal and real GDP is surprisingly ranked at 8th position.
The country leads in scientific research and technological innovations. The US GDP of $16.8 trillion counts for 24 per cent of the gross world product at market exchange rates.
United Arab Emirates
Rank: 8
GDP (PPP) – 2013: $49,883.58
GDP (PPP) – 2009: $45,913.80
With the world’s seventh-largest oil reserves, UAE has the second largest economy in the gulf region.
UAE is also one of the best nations for doing business based on its economy and regulatory environment.
Switzerland
Rank: 9
GDP (PPP) – 2013: $46,474.95
GDP (PPP) – 2009: $41,785.02
Switzerland has a prosperous and high-tech economy offering high standards of living.
It has the world's nineteenth largest economy by nominal GDP.
Australia
Rank: 10
GDP (PPP) – 2013: $44,073.81
GDP (PPP) – 2009: $38,595.00
Australia is one of the wealthiest countries in the world.
The 12th-largest economy generates revenue from mining-related exports, telecommunications, banking and manufacturing.
Australia ranked second in the world in terms of average wealth of citizens.
