The richest countries in the world are best ranked with their Gross Domestic Product (GDP) Per Capita and the median household income of each of the cities in the nation. By determining the poverty and unemployment rate, you can also estimate how poor a country is. The richest countries in Europe are the European states that have the best performing economies.
The median household income of these richest countries shows that the income of the country’s residents is high enough to afford the cost of living in those states. With the high-earning citizens in these countries, there are high-end supermarkets, exclusive schools, grand swimming pools, and five-star resources to meet the demands of the teeming residents.
Gross Domestic Product Of The Richest Countries In Europe
Given the collective GDP of the major countries in Europe, the financial leaders in Europe and their presidents are some of the most productive directors in the world. Altogether, the 6 main countries in Europe recorded a GDP of USD 13.833 Trillion in 2020.
The following are the richest countries in Europe based on their GDP.
- Germany: USD 3.8 trillion
- United Kingdom: USD 2.7 trillion
- France: USD 2.6 trillion
- Italy: USD 1.9 trillion
- Russia: USD 1.5 trillion
- Spain USD: USD 1.3 trillion
- Netherlands: USD 913.8 billion
- Switzerland: USD 752.2 billion
- Turkey: USD 720.1 billion
- Poland: USD 594.2 billion
Richest Countries In Europe
Taking an average from the Gross Domestic Product (GDP), GDP Per Capita, and Gross National Income (GNI), the following are the top ten richest European countries:
- Germany: USD 3.48 trillion
- United Kingdom: USD 2.65 trillion
- France: USD 2.47 trillion
- Italy: USD 1.86 trillion
- Russia: USD 1.25 trillion
- Spain: USD 1.24 trillion
- Netherlands: USD 777.23 billion
- Switzerland: USD 668.85 billion
- Sweden: USD 514.48 billion
- Poland: USD 471.40 billion
Germany is the European country with the strongest economy. Through different waverings the country has experienced based on their economic situations, the country has yet to maintain a stable economy. It has the strongest economy in Europe with a GDP of USD 3.48 trillion and a GDP per Capita of USD 110,840
Germany or the German Machine as they are widely known is the main center of industrialization in Europe. Germany’s economy hit a mega boom in Europe mainly because of its successful iron and steel industries, which are the largest producers of raw materials for the manufacturing of mechanized products.
United Kingdom is one of the richest countries in Europe and is governed by Queen Elizabeth II. The United Kingdom is located in North West Europe as an island consisting of England, Scotland, Northern Ireland, and Wales. The educational hub is one of the booming sectors of England’s economy.
Universities like Oxford and Cambridge are located in the United Kingdom and are considered the best Universities and tertiary institutes in the world. They also award degrees to students who wish to participate in their online Universities.
Shakespeare, one of the prolific contemporary writers was born in the esteemed nation of England. Even the Beatles, the phenomenal music group had its headquarters in England. Other financial, cultural, and Neolithic artistry in the nation, contribute to making the United Kingdom one of the wealthiest countries in Europe. England’s capital, London boasts of some of the best bath Roman spas in the world. Tourism in England also positions the United Kingdom’s economy as one of the richest countries in Europe.
France is home to the best classical arts in the world. It is located in Western Europe and has its capital in Paris. The nation is one of the richest countries in Europe considering the sophistication of the art galleries and tourist attractions within.
The Mediterranean beaches, medieval cities, and alpine villages in France are currently one of the most visited vacation centers in the world. Monuments like the Louvre and Eiffel Tower; Classical arts museums; Fashion stores; elated wines and cuisines; ancient cave drawings; Roman theatres; and the palace of Versailles attest to France’s rating among the richest countries in Europe. The president of France is Emmanuel Macron
The capital of Italy is Rome which is also a Vatican city. Expensive paintings by Michelangelo like the “David” and “Duomo” by Brunelleschi are situated in the city of Florence which is one of the cities in Italy. The cuisine, renaissance masterpieces, and Western culture in Italy are endearing; one that is characteristic of the richest countries in Europe.
The fashion sector in Italy is rated among the best in the world; Milan is the Italian city that deals majorly with the production of fashion wear in the country. Italy is governed by Sergio Matarella.
Russia is the world’s largest country based on the landmass. The country is transcontinental with most of its territories in Asia but a greater extent of its citizens are resident in the European region. Russia is regarded as a European country on this note.
Spain is another one of the richest countries in Europe consisting of 17 regions in the Iberian Peninsula of Europe. The royalties resident in this nation is some of the wealthiest people in the world. The Prado Museum and Royal Palace in Madrid, the capital of Spain are numbered among the best tourist locations in the world.
Among these, other modernist landmarks and medieval castles in Spain are richly endowed to mark the success and affluence of Spain’s citizens. Spain is unarguably one of the richest countries in Europe.
The Netherlands like the United Kingdom is located in northwest Europe. The capital of the Netherlands is Amsterdam which is home to the Van Gogh Museum, Rijksmuseum, and the place where Anne Frank; the Jewish diarist hid during the 2nd World War.
The flat landscape, cycling routes, windmills, and tulip fields in the Netherlands give out the success of the agricultural sector in the nation. This has made the Netherlands one of the richest countries in Europe.
The Swiss is the eighth richest country in Europe. Switzerland prides itself on its GDP per Capita of USD 82,950. The international beverage brand, Néstle has its headquarters in Switzerland. The country’s economy is well-targeted for its increased productivity and industrial sectors.
Sweden adds to this list with a GDP per Capita of USD 47,480. Sweden is a Nordic country and has an economy focused on foreign trade. The resources of Sweden are pooled from the international market, however, only a small population, about 16.2% of the Swedish are at risk of falling into penury due to the bad economic decisions of some persons in Stockholm.
Poland is exceptionally a country in Central Europe. The nation is known officially as the Republic of Poland and is rated among the richest countries in Europe. Poland has 16 Provinces with over 38 million residents in population.
Europe is esteemed as one of the most affluent countries in the world rating among its 50 wealthy countries and non-country territories. The richest European countries have a large margin in terms of economic differences between them and the poorest countries in Europe.
The list of the wealthiest European countries as we have compiled below was drawn from credible sources like the World Bank and Forbes List.