While all Nordic countries are wealthy, Finland is often cited as having the lowest standard of living or being the "poorest" by some metrics, with lower property values and GDP per capita compared to Denmark, Norway, and Sweden, though Sweden has recently seen higher poverty risk rates. However, figures vary, with some data showing Sweden with a higher at-risk-of-poverty rate in recent years.
Of the Nordic countries, Sweden has had the highest at-risk-of-poverty rate in the entire observed period. In 2024, 13.9 percent of Sweden's population lived at risk of poverty.
The cheapest Scandinavian country is usually Sweden, especially compared to Norway and Denmark, which tend to be more expensive. Finland can also be a good option depending on the region.
Given that the Nordic countries are all relatively rich (Nordic countries occupy a range from 6 (Norway) to 21 (Finland) in the 149-country ranking of GDP per capita), we are especially interested what factors beyond GDP per capita make the Nordic countries stand out.
Which are the Poorest Countries in the World?
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.
Gross domestic product
The Nordic countries are among the richest in the world measured in per capita GDP – significantly above the EU average. Norway is top of the Nordic ranking. GDP Per Capita (PPS Euro). 2021.
Finnish citizens and the 3-year rule
If you are a Finnish citizen and you move to another country, you will normally continue as a Finnish tax resident during the tax year of your relocation, and for the three following tax years (the three-year rule).
Moreover, Finland and Norway rank among the top 5 for safety and security (5th and 3rd, respectively), standing out for peacefulness (95% positive ratings in Finland) and personal safety (96% positive responses in Norway).
10 of the cheapest and safest places to live in the world
Norway is the most expensive Scandinavian country to live in, but don't worry! There are still plenty of ways to eat delicious food cheaply. The NCNW2 batch is ready to help you navigate life in Norway. Stay tuned for our tips from our Norway survival guide coming soon!
If you're dreaming of spending your golden years in one of the happiest countries in the world, you might want to retire in Sweden. The Nordic nation offers breathtaking nature, top-tier healthcare and education, a high standard of living, low income inequality, and a culture of open-mindedness.
Gang and organized crime-related violence occurs mainly in the three largest cities in Sweden:
The key factors that contribute to low child poverty rates in Finland are high levels of parental labour market participation and full-time work, combined with a redistributive tax system that works in the favour of families, a comprehensive system of social insurance, and generous social assistance.
According to the Tax Foundation, Estonia has the best tax code in the OECD for the 11th consecutive year.
Average salary in Finland for a Software Engineer
For a software engineer in Finland, the average salary is roughly €4,221 per month (around €50,660 per year). Junior-level positions earn approximately €3,000–€4,000 per month.
The pensionable age for the national pension is 65 years for persons born in 1965 or earlier. For persons born after 1965, old-age pension from the national pension scheme is tied to a personal pensionable age based on the earnings-related pension acts. You can check your pensionable age on the Työeläke.fi website.
Norway. Norway is known for its deep fjords, steep mountains, Northern Lights and incredible national parks, including beautiful fauna. Maybe Norway is the most rural and traditional of these countries. Svalbard — administered by Norway and this archipelago in the Arctic is a dream for nature lovers.
Norway's high per capita income is largely attributed to its natural resource wealth, particularly oil and gas. The country has effectively managed its petroleum income through the Government Pension Fund Global, which ensures that oil revenues benefit future generations and provide economic stability.
Scandinavia holds the highest percentage of Viking ancestry, with Sweden leading at up to 75% descent. In Denmark and Norway, about half the population traces back to Norse explorers, while Iceland boasts 65-85% Viking heritage. The Viking legacy lives on!
Iceland: As a NATO member, it has no standing army and relies on alliances for defense. Mauritius: Maintains a special police force for its security. Panama: Abolished its military after a civil war in the late 1980s and uses its public forces for security.
1. South Sudan ($455 | GDP-PPP per Capita) South Sudan ranks as the poorest country globally, grappling with prolonged civil war, oil dependency, and severe food insecurity. The ongoing conflict disrupts agricultural production, leaving over 60% of its population in need of humanitarian assistance.
According to the latest 2025 CEOWORLD Health Care Index, Taiwan once again ranks as the country with the best healthcare in the world, maintaining its top position with an overall score of 78.72. South Korea (77.7) and Australia (74.11) remain in second and third place, respectively.