The US News Best Countries ranking about the most economically stable countries in the world has been unveiled.
1.UAE
The country with the most magnetic economy, tourism and attractions secures the first place in the ranking. UAE, the federation of seven emirates with rocky desert, wetlands, waterless mountains, and coastlines. It was previously called the “Trucial States” in the 19th century. The UAE has been primarily dependent on the wealth of oil since the beginning of the 20th century. The legal system of the UAE is built with a mix of civil and Islamic law. The two most largest and captivating cities in the UAE are Dubai and Abu Dhabi. Abu Dhabi is the capital of the UAE.Â
It is one of the frequently visited tourist destinations in the world, with sleek skyscrapers, and many other attractive tourist spots like “Burj Khalifa”. Thus tourism contributes a crucial role in their economy. Not only tourism, they welcome the immigration with well defined policies for the migrants. It becomes a welcoming country for the people from the ASEAN countries because of its tax-free income policy, staunch job market, and proximity to Asia. Malaysians, Indonesians, and Malayasians are the most prominent populations from the ASEAN countries.Â
1.Indians – 3.5 million
2.Pakistan – 1.7 million
3.Filipinos – 700,000
4.Indonesians – 100,000
5.Malaysians – 6,000
6.Singaporeans – NA
UAE is one of the fastest growing countries economically and technologically. They are members of the UN, OPEC, the WTO, and several other international organisations.
GDP – $504 billion
Population – 9,516,871
GDP Per Capita – $83,903
Area – 83,600 sq.km
2.Switzerland
Switzerland is called the Swiss Confederation whose landscape is spread out with glacier-carved Alps, lakes and valleys. Because of the strongest economy this country became one of the wealthiest countries in the world. In 1291, it was founded and in 1848 the constitution for the Swiss Federation was drafted and turned on to the Federal government. The capital city of Swiss Federation is Bern. Lower employment, highly skilled labor force, low corporate tax rates, well developed service sector, high-tech manufacturing industry and highest gross domestic per capita income are the robustness of this country.
GDP – $885 billion
Population – 8,849,852
GDP Per Capita – $92,980
Area – 41,277 sq.km
3.Germany
Another Country from the European Union, Germany, possesses the largest economy in the world. Berlin is the capital city. It is well known for the social market economy, open market capitalism, they are a major importer & exporter in the world. They provide the services around the world which includes telecommunications, health care, agriculture, industry and tourism. Germany has a highly skilled and prosperous labor force.
GDP – $4.46 Trillion
Population – 84,482,267
GDP Per Capita – $69,338
Area – 357,022 sq.km
4.Canada
Canada, becomes the second largest country after Russia in the area. The population of Canada predominantly are migrants. They hail and honor their own culture. It is well known for its multiculturalism. It is a high-tech industrial society, their major benefactor for the economy is the service sector. They export energy, food and minerals. They are the fourth largest producer of oil in the world. This country has a rich root in literature, art and culture. Ottawa is the capital city of Canada.
GDP – $2.14 trillion
Population – 40,097,761
GDP Per Capita – $61,582
Area – 9,984,670
5.Japan
The only Asian country to secure a place within the top 5 countries in the world. Japan is known as the most literate and technically advanced country in the world. Tokyo became the capital of this smaller country covered with mountains and heavily wooded areas. The people of Japan lead a highly advanced urban life which is mixed with their Japanese culture. Though this country has dealt with multiple calamities and many horrible events in the past, they bounce back stronger every time. It has a large number of UNESCO World Heritage sites. The famous dish of Japan which travels to all parts of the world is “Sushi”.Â
GDP – $4.21 trillion
Population – 124,516,650
GDP Per Capita – $50,207
Area – 377,915 sq.km
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6.Australia
Australia is highly influenced by the culture of British, Celtic, and US culture. The land was majorly occupied by the indigenous people for almost 40,000 years until the invasion of the foreign men. This country was well developed after the British and they formed a democratic government, which has now flourished as a wealthy nation with a market based economy which has high gross domestic product and per capita income. Service sector and exports play a crucial role for their stable economy.
GDP – $1.72 trillion
Population – 26,638,544
GDP Per Capita – $69,115
Area – 7,741,220 sq.km
7.Sweden
Sweden is one of the most beautiful countries in the world with a nature friendly environment. This country has a larger landmass and their Capital is Stockholm which was founded in the 13th century. They prioritise human rights, public service and sustainability. They balance their economy with an advanced infrastructure and transport network. The highlight basic convenience provided by Sweden are education and health care which are free to everyone.
GDP – $593 billion
Population – 10,536,632
GDP Per Capita – $70,207
Area – 450,295 sq.km
8.Denmark
Copenhagen is the capital city of Denmark and it emerged in the 10th century. Denmark forms a cultural region called Scandinavia in Northern Europe. This place is the hub of connecting Northern Europe with the rest of the world. Another interesting fact of this country is that their government is highly stable and transparent. This leads to a high progressive government and societal structure with leading industries like food processing, tourism, iron, steel and machinery.
GDP – $404 billion
Population – 5,946,952
GDP Per Capita – $76,688
Area – 43,094 sq.km
9.Netherlands
The Netherlands is one of the world’s leading exporters of agriculture, a country with high-income, and well known for the Tulips. The capital city of the Netherlands, Amsterdam is one of the most visited cities in the world. Three major European rivers which include the Rhine, Meuse and Schelde run through Germany and Belgium. The people of this country is named as the tolerant society and it is the first country to legalize the same-sex marriage. The Netherlands is the birthplace of famous painter Van Gogh, and the important inventions of the world like microscope, telescope and thermometer.
GDP – $1.12 trillion
Population – 17,879,488
GDP Per Capita – $78,215
Area – 41,543 sq.km
10.Saudi Arabia
Saudi Arabia, concludes the list of most economically stable countries in the world with its vast majority of land and wealth of the Arabian Peninsula. Riyadh is announced as the capital city of Saudi Arabia by their rulers. The notable place of this country is Mecca, which is believed to be the birthplace of Muslim Prophet Mohammed and the cradle of Islam. Millions of devout and followers of Islam visit this sacred place in a pilgrimage. This country is a monarchy country with the King and 12 members who were appointed by him. The major factor for the skyrocketing economic growth of this country is the oil reserves which were found in the deserts.
GDP – $1.07 trillion
Population – 36,947,025
GDP Per Capita – $54,992
Area – 2,149,690sq.km
These are the top 10 countries who are economically stable around the world. Though some countries have their history, culture, and the presence of humans long back their growth of economy is not as fast as the UAE. The key factor for their upright growth is the discovery of the oil in the 50’s and their futuristic plans. The Vision 2030 which includes golden visa, and they opened doors for many migrants with a well organised authentication for jobs and other business investments, alluring travel destinations are the biggest initiatives taken by UAE in all aspects, making UAE to a table topper.
