Visualized: The Top 15 Countries by GDP Per Capita (2004 vs. 2024)
Highest GDP Per Capita; 2004 vs 2024
Over the last two decades, global wealth distribution has shifted significantly. Many of the world’s richest economies have strengthened their positions, while a few emerging players have climbed rapidly up the rankings.
This infographic compares the top 15 countries by GDP per capita in 2024 with their standings and income levels in 2004, highlighting 20 years of economic transformation.
Long-Term Leaders in Global Wealth
Luxembourg remains the world’s richest country, rising from $77K (2004) to $138K (2024). Its financial services sector and small population continue to drive exceptionally high per-capita wealth.
Ireland shows one of the most dramatic increases, more than doubling from $48K to $107K, fueled by multinational corporate activity and strong export-led growth.
Similarly, Switzerland increased from $55K to $104K, maintaining its status as a stable, high-income economy driven by finance, pharmaceuticals, and advanced manufacturing.
Asia’s Rising Wealth Hubs
Singapore stands out as the most remarkable Asian climber, jumping from $28K in 2004 to $91K in 2024, one of the fastest growth rates among advanced economies. Its transformation into a global financial and innovation hub continues to elevate its income levels.
Meanwhile, Qatar grew from $41K to $76K, supported by high-value energy exports despite volatility in global oil and gas markets.
Strong Growth in Advanced Western Economies
The United States shows consistent long-term expansion, doubling its GDP per capita from $42K (2004) to $86K (2024), driven by tech-sector growth, productivity gains, and high-value industries.
Northern European economies such as Norway ($58K to $87K), Iceland ($47K to $83K), and Denmark ($47K to $72K) continue to perform strongly, benefiting from stable governance, diversified industries, and high human capital.
Countries like the Netherlands, Australia, Sweden, Austria, Belgium, and Germany also posted steady long-term gains, reflecting slow but consistent economic expansion across the developed world.
Despite remaining a high-income economy, Sweden experienced relatively slower GDP per capita growth compared to its peers
Final Remarks
The 20-year shift in GDP per capita illustrates both stability and transformation at the top of the global income rankings. Financial centers like Luxembourg, Ireland, and Singapore have surged, while established economies such as the U.S. and Northern Europe continue their steady upward trajectory. As global markets evolve, these long-term wealth trends offer key insights into productivity, innovation, and the future balance of economic power.
