No, Italy is not the richest country in Europe; it has one of Europe's largest economies by total GDP but ranks lower in wealth per person, with countries like Luxembourg, Switzerland, Ireland, and Norway leading in GDP per capita (PPP) due to smaller populations and strong financial/high-tech sectors. While Italy is a major economic power (often 3rd in EU by total GDP), its large population dilutes its per-person wealth ranking compared to smaller, finance-focused nations, though its GDP per capita has recently matched or surpassed the UK's.
Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy.
Italy has a highly developed social market economy. It is the third-largest national economy in the European Union, the 8th-largest economy in the world by nominal GDP, and the 12th-largest by PPP-adjusted GDP.
In a non-European Union context, the term E3 is commonly used to describe the three largest western European economies: France, Germany, and the United Kingdom.
While Italy's gross domestic product (GDP) reached only €2.19 trillion in 2024, compared to the €2.92 trillion generated by France, on a per capita basis and adjusted for purchasing power, Italy is catching up with France this year and for the first time weighs equally, according to calculations by the economic team of ...
The richest country by GDP (PPP) per capita is often cited as Singapore, followed closely by Luxembourg, depending on the specific report and year, with Singapore leading in 2025 estimates with around $156,000-$157,000 per person, while Luxembourg is a strong contender just below that, highlighting small, finance-heavy economies as wealthiest per person.
France, Germany, Italy and the United Kingdom are considered major European powers and they are the Western European countries individually represented as full members of the G7 and the G20. They have been referred to as the "Big Four of Europe" since the interwar period.
The three most powerful members of the European Union — France, Italy and Germany — as well as the United Kingdom are referred to as the Big Four of Western Europe.
Don't blink as we blitz through Europe's tiniest countries: Vatican City, the planet's smallest country, boasts the its biggest church.
Extensive trade networks developed over time, linking Italian centers to a network of relations from Asia to northern Europe. These centers of manufacturing, financial, mercantile and cultural activities made the Italian economy more prosperous than other European countries.
Recent research shows that the average Italian resident's monthly expenses range from €1,400 to €2,700 in major cities, while a family of four should budget between €3,000 and €4,500. But don't worry – there's plenty you can do to make the most of your budget no matter where you live.
South Sudan is widely considered the poorest country in the world in 2025-2026, consistently ranking first due to extremely low GDP per capita and a high percentage (over 80%) of its population living in extreme poverty, driven by prolonged civil conflict, displacement, and disruption of its agricultural economy. Other nations frequently cited as among the poorest include Burundi, the Central African Republic, and Yemen, also suffering from conflict and instability.
According to Eurostat, Hungary is now the poorest country in the European Union based on real income per capita—not GDP, but how much citizens can actually afford. Once more prosperous, it now trails behind Romania and Bulgaria.
Based on Wordometer's data, the US stands out with $80,706, making it the richest country per GDP in the world. Following the US, the richest countries per GDP are China, Germany, Japan, India, and the UK, respectively.
The wealthiest city in mainland Europe, Paris is home to many of Europe's wealthiest entrepreneurs. Our figures for this area include wealth held in the city of Paris aswell as the surrounding region of Ile-de-France. Major companies based there include LVMH and BNP Paribas.
Ranked: Europe's Top Economies in 2026 by Projected GDP
The "Big 5" in Europe can refer to different groups, but most commonly means France, Germany, Italy, Spain, and the United Kingdom, often based on economic, political, or cultural influence (sometimes swapping UK for a larger EU state like Poland or Netherlands depending on the context) or, by area, it's Russia, Ukraine, France, Spain, and Sweden. Context is key: in Eurovision, it's Germany, France, UK, Spain, Italy.
Presenting... Europe's 'big five'! There are five large carnivore species living across Europe: bear, wolf, lynx, golden jackal and wolverine. Perhaps you have heard about them in stories, fairy tales or lately on the news? Chances are you don't know all there is to them.
Largest European companies based on number of employees 2024
The Irish company Accenture employed over 700 thousand people worldwide in 2024, the most of any European company.
The Most and Least Happy Countries in Europe 2025
Below, we show the happiness scores of European countries from the World Happiness Report 2025. Finland continues its reign as the happiest country in the world for its eighth consecutive year.
Iceland. Ranked number one since 2008, Iceland remains the world's most peaceful nation, leading across all three domains: safety and security, ongoing conflict and militarisation. It even recorded a 2% improvement this year, widening the gap from the second-place country on the list.