Australia has the 13th largest economy in the world, with an overall GDP of $1.33 trillion and a GDP per capita of $51,885.
Australia is considered a wealthy nation with a market-based economy that has a comparatively high gross domestic product and per capita income. Its economy is driven by the service sector and the export of commodities.
1. Qatar. Ranking first in our Top 10 richest countries in the world list is oil-rich Qatar. Its robust economy, which has been outperforming the rest of the world, is powered by its well-established petroleum sector, which accounts for around 85 percent of its export and 70 percent of total national revenue.
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.
The overall ranking of Best Countries measure global performance on a variety of metrics. Switzerland is the best country in the world for 2022.
Australia is now home to 2.2 million millionaires, according to a new study. Half of all Australians in 2021 had more than $400,000 in wealth. It means we have the highest median wealth of all the countries studied.
The median Australian adult finished 2021 with a net worth of $US273,900, making them richer than the comparable resident of any other country, according to Credit Suisse's annual global wealth report.
Australia's GDP, which is roughly $1 trillion, is smaller than that of the United Kingdom.
Examples of first world countries include the United States, Canada, Australia, New Zealand, and Japan. Several Western European nations qualify as well, especially Great Britain, France, Germany, Switzerland, and the Scandinavian countries. The ways that first world countries are defined can vary.
reports India's total wealth is more than Australia, France, Canada and Italy while the US and China top the list of the wealthiest countries in the world, according to a report by New World Wealth.
Australia and Canada have similar levels of GDP per capita (based on purchasing power parity, nominal GDP per capita was around US$ 7 000 for Australia and US$ 9 000 for Canada in 008).
According to the United Nations, Australia is the second-best country in the world to live, due to its excellent quality of life index. The UN establishes a qualification, also known as the Human Development Index, based on an annual survey of social progress and economic indexes of the 187 countries.
Australia has a GDP per capita of $48,700 as of 2020, while in India, the GDP per capita is $6,100 as of 2020.
And it turns out Perth has the wealthiest neighbourhoods in the country. Residents of Cottesloe and Peppermint Grove in the Western Australian capital boast an average taxable income of $325,343 apiece.
How do Australia's billionaires rank? Forbes' real-time data shows that 41 Australian billionaires have made the list of the world's richest billionaires.
For the fifth year in a row, Finland is the world's happiest country, according to World Happiness Report rankings based largely on life evaluations from the Gallup World Poll.
According to New World Wealth, approximately 80,000 millionaires have moved to the Land Down Under in the last two decades. A few things that attract migrants to Australia are the country's low costs of healthcare, its lack of inheritance tax, and its generally prosperous economy.