SINGAPORE: Singapore has become this year’s world’s richest country, based on gross domestic product (GDP) per capita, according to Malay Mail, citing India-based aviation news site Aviation A2Z.
Singapore topped the list with a GDP per capita of US$156,760 (S$203,087), just ahead of Luxembourg (US$152,920) and Macau (US$134,040), calculated by dividing each country’s total GDP by its population size, as reported by AsiaOne.
The India-based aviation news site said Singapore’s wealth comes from its strategic position on major shipping routes, making it a crucial hub for international trade. The city-state’s pro-business policies, political stability, strong financial sector and modern infrastructure also continue to draw global firms and wealthy individuals.
The only other Southeast Asian country on the list was Brunei, sitting in eighth place with a GDP per capita of S$95,760, thanks to its oil and natural gas exports, as well as its efforts to diversify into halal food production, Islamic finance and ecotourism. /TISG
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