The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of $107,690 (PPP Int$). Singapore owes its wealth not to oil but rather to a low level of government corruption and a business-friendly economy.
The top 10 richest Asian countries are Singapore, Qatar, Israel, UAE, Brunei, Kuwait, Japan, South Korea, Saudi Arabia, and Bahrain. Asia is a continent of immense diversity, with a wide range of cultures, languages, and economic systems.
In Asia, the poorest countries are Yemen, Tajikistan, and Myanmar, where poverty is also prevalent due to political conflicts and economic instability.
1. Singapore: The most gorgeous nation in all of Asia is Singapore. It is also recognized as the biggest and most advanced business hub in the whole globe. Singapore's riches isn't due to oil, but rather to a business-friendly environment and minimal levels of government corruption.
China has the largest economy in Asia, with a GDP of over $18 trillion. It is also the most powerful country in Asia, and second on the list of the 25 Most Powerful Countries in the World in 2023.
India ranks as the 7th biggest economy globally with a $2.7 trillion GDP, while Thailand ranks 26th with $505 billion. India and Thailand rank 6th versus 86th respectively, by GDP 5-year average growth.
Australia has a highly developed market economy and one of the highest per capita incomes globally. Australia is a regional power, and has the world's thirteenth-highest military expenditure.
Top 12 Largest Countries in Asia by Land Area (United Nations): Russia* — 16,376,870 km2 (6,323,142 mi2) China — 9,388,210 km2 (3,624,807 mi2) India — 2,973,190 km2 (1,147,955 mi2)
Thus, the richest countries in the world are those with the highest GDP per capita. Currently, the richest country in the world in terms of GDP per capita is Luxembourg, with a GDP per capita of $135,700. Other wealthy countries include Bermuda, Ireland, and Switzerland, all with GDP per capita above $80,000.
Rapid modernisation, and a focus on high technology, have allowed East Asia to register rapid economic growth. The region is home to some of the world's most affluent nations and sees high standards of living.
Since 1960 Asia, the largest and most populous of the continents, has become richer faster than any other region of the world. Of course, this growth has not occurred at the same pace all over the continent.
France is the most visited country in the world with 117,109,000 international tourists, thanks to its rich history and iconic landmarks. Mexico comes in second for most visited countries, with 51,128,000 tourists, offering vibrant culture and stunning natural beauty.
The Lowy Institute foreign policy think tank has released its annual Asia Power Index, which analyses the heft of countries across the region. The 2022 report ranks Japan as the third most powerful country in Asia after the United States and China.
Australia is a highly developed country with a mixed economy. As of 2023, Australia was the 13th-largest national economy by nominal GDP (gross domestic product), the 19th-largest by PPP-adjusted GDP, and was the 20th-largest goods exporter and 24th-largest goods importer.
Australia has plentiful supplies of natural resources, including the second largest accessible reserves of iron ore in the world, the fifth largest reserves of coal and significant gas resources. For a long time, commodities have made up a sizeable share of our exports.
When measured by average wealth, Australia is fourth behind Switzerland, the United States and Hong Kong, reflecting that wealth is more evenly distributed in Australia than in those countries. Australia had about 2.2 million millionaires (calculated in US dollars) in 2021, up from 1.8 million millionaires in 2020.
The country's nominal GDP of USD 18 trillion is roughly six times that of India. China has historically had a larger population. And in the previous decade, China's real GDP growth outpaced India's by over 1.5 percentage points annually. However, the tables are set to be at least partly turned in the coming years.
Burundi. Burundi has the lowest GDP per capita of $237, making it the poorest country in the world.