In this video we Compare top 50 richest countries in the world in 2020. In the video, the richest country comparison is Shown by GDP Per Capita of the countries. Many of the world's richest countries are also the world's smallest.

What do people think when they think of the richest countries in the world? And when we think of the world's smallest countries, what comes to their mind? Some people would be surprised to know that the wealthiest nations also have the largest number.
Some very small and very wealthy countries - such as Luxembourg, Singapore, Switzerland and Ireland - benefit from sophisticated financial sectors and tax regimes that help attract foreign investment and professional talent. Others, such as Qatar, Brunei and Kuwait, have large reserves of hydrocarbons or other attractive natural resources.

But what do we mean when we say a country is “rich,” especially in an era of growing income inequality between the rich and everyone else? While gross domestic product (GDP) measures the value of all goods and services produced in a nation, dividing a country's GDP by the number of full-time residents is a better way of determining how rich or poor one country's population is relative to another's. The reason why “rich” often equals “small” then becomes clear: these countries’ economies are disproportionately large compared to their comparatively small populations.

However, only when taking into account inflation rates and the cost of local goods and services can we get a more accurate picture of a nation’s average standard of living: the resulting figure is what is called purchasing power parity (PPP), which is often expressed international dollars in order to allow comparisons between different countries.

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My Name's Kishan and on this Worldwide stats channel, I love to show you a Short clip of data visualizations of figures from the past to the present, sometimes even to the future.! I Also show military power comparisons between countries.

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Data sources:
IMF (International Monetary Fund)
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