List of Top 10 Countries with High Income as per GNI Per Capita

The economic performance of a nation significantly influences its citizens' quality of life, making GNI per capita a key indicator of global wealth. High-income countries, as defined by the World Bank, have a GNI per capita of at least $14,005 as of 2023. However, income levels alone don’t always indicate development status—some high-income countries are still classified as developing. This list highlights the top 10 wealthiest countries based on GNI per capita in 2024, providing insight into their economic prowess.

List of 10 Countries with High Income till 2024

The World Bank classifies nations based on their income levels, while the United Nations uses a broader approach, categorizing countries by their overall development. Despite these distinct classification systems, there is often significant overlap. Typically, nations deemed high-income by the World Bank are also recognized as developed countries by the United Nations. Similarly, upper- and lower-middle-income nations often align with the U.N.'s developing countries classification. Countries categorized as low-income by the World Bank frequently fall into the U.N.'s least-developed or underdeveloped category. Here is the list of High-Income countries in 2024:

What is GNI Per Capita

Gross National Income (GNI) per capita is a critical economic metric that reflects the average income of a country's residents. It is calculated by dividing the total GNI by the population. While it doesn’t provide insights into income distribution or inequality, GNI per capita offers a snapshot of the overall economic health of a nation, helping to compare wealth between countries on a global scale.

10 Countries With Most Income in 2024

1. Bermuda

GNI per Capita (USD): $125,210

Bermuda ranks as the wealthiest country in 2024 with its thriving financial services and tourism sectors. The island nation benefits from its tax-friendly environment, attracting multinational corporations and boosting its per capita income to unparalleled levels.

2. Liechtenstein

GNI per Capita (USD): $116,600

This small European principality leverages its banking and financial sectors, combined with a highly skilled workforce, to secure its place among the richest nations despite its small population size.

3. Norway

GNI per Capita (USD): $95,520

Norway’s wealth comes from its vast natural resources, especially oil and gas. With a strong social welfare system, the country consistently scores high in income and quality of life rankings.

4. Switzerland

GNI per Capita (USD): $95,490

Renowned for its financial sector and high-value manufacturing, Switzerland enjoys high-income levels even amid challenges like rising interest rates and slower export growth.

5. Luxembourg

GNI per Capita (USD): $89,200

A key financial hub, Luxembourg's wealth is bolstered by a robust banking sector and a highly international workforce, making it one of the richest countries in Europe.

6. Ireland

GNI per Capita (USD): $79,730

Ireland’s economic transformation over recent decades has been fueled by its favourable tax policies, attracting global corporations and boosting its GNI per capita significantly.

7. Isle of Man

GNI per Capita (USD): $79,300

Though not as internationally known, this self-governing British Crown Dependency boasts a high GNI, driven by its finance and insurance sectors.

8. United States

GNI per Capita (USD): $76,770

The U.S. continues to be a global economic powerhouse, thanks to its diverse economy and leadership in technology and finance.

9. Faroe Islands

GNI per Capita (USD): $74,420

The Faroe Islands, an autonomous territory of Denmark, thrives on its fisheries and emerging energy sectors, ensuring its high income levels.

10. Denmark

GNI per Capita (USD): $73,520

Denmark’s wealth comes from its well-developed welfare state, high-tech industries, and sustainable energy initiatives, positioning it among the world’s richest nations.