This is a list of countries by gross national income per capita in 2020 at nominal values, according to the Atlas method, an indicator of income developed by the World Bank.
High-income group.
| Rank | 14 |
|---|---|
| Country | Finland |
| GNI per capita (US$) | 49,700 |
| Year | 2020 |
Contents
Is Finland high-income country?
While Finland’s population of 5.5 million is smaller than that of most countries, its $238.7 billion economy ranks among the world’s largest. Finland’s GNI per capita of $39,977 is greater than the OECD average of $38,992 and the 21st highest of any nation.
Which countries are middle-income?
What Is a Middle-Income Country? (MIC)
- Middle-income countries are those with $1,026 to $12,475 in per capita GNI.
- The World Bank classifies countries for operational purposes for the financial and economic development services that it provides to them.
What defines a middle-income country?
The world’s Middle Income Countries (MICs) are a diverse group by size, population, and income level. They are defined as lower middle-income economies – those with a GNI per capita between $1,036 and $4,045; and upper middle-income economies – those with a GNI per capita between $4,046 and $12,535 (2021).
What are the lower middle-income countries?
Lower middle income
- Algeria.
- Angola.
- Bangladesh.
- Belize.
- Benin.
- Bhutan.
- Bolivia.
- Cabo Verde.
What do middle class families make?
Pew defines “middle class” as a person earning between two-thirds and twice the median American household income, which in 2019 was $68,703, according to the United States Census Bureau. That puts the base salary to be in the middle class just shy of $46,000.
Who has the highest income in the world?
Liechtenstein
Average income around the world
| Rank | Country | Avg. income per year |
|---|---|---|
| 1 | Liechtenstein | 116,430 $ |
| 2 | Switzerland | 84,310 $ |
| 3 | Isle of Man | 83,160 $ |
| 4 | Cayman Islands | 68,200 $ |
What is considered middle class 2020?
The most straightforward way of defining someone as middle class is based on income thresholds. In the simplest sense, if your median household income for 2020 was from $50,641 to $135,042, you are considered middle class, according to estimates from Wenger.
Is Tanzania a middle income country?
Tanzania has been declared to have moved from low to lower middle income country as from 2020.
What is considered a low income country?
What is a low-income country? According to the World Bank, low-income countries are nations that have a per capita gross national income (GNI) of less than $1,026. GNI per capita (formerly GNP per capita) is the dollar value of a country’s final income divided by its population.
What are high income countries?
- United States. Justyna Galicka / Getty Images. The United States, with its 326.7 million people,3 tops the list with a disposable income per capita measure of $53,122.
- Luxembourg. Pixabay.
- Switzerland. Marco Bottigelli / Getty Images.
- Germany. Pixabay.
- Australia. Pixabay.
- Norway. Pixabay.
- Austria. Pixabay.
- Belgium. Pixabay.
What is upper middle income?
In general, much of today’s political rhetoric focuses on the challenges facing the middle class.
What is lower middle income country means?
Tanzania’s GNI per capita increased from $1,020 in 2018 to $1,080 in 2019, which exceeds the 2019 threshold of $1,036 for lower-middle income status. Thus Tanzania is currently classified as a lower-middle income country.
Where are most low-income countries located?
Nearly every low-income country is now in sub-Saharan Africa, with just Afghanistan, Cambodia, Haiti and Nepal ranking in the poorest category from outside Africa.
What is the most developed country in the world?
The United States was the richest developed country on Earth in 2019, with a total GDP of $21,433.23 billion. China was the richest developing country on Earth in 2019, with a total GDP of $14,279.94 billion.
Why are poor nations poor?
It is widely accepted that countries are poor because their economies don’t manage to grow sufficiently.Instead, countries are poor because they shrink too often, not because they cannot grow – and research suggests that only a few have the capacity to reduce incidences of economic shrinking.
What income is middle class for a single person?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Couple |
|---|---|---|
| Arkansas | $22,675 – $68,025 | $32,067 – $96,202 |
| California | $29,851 – $89,552 | $42,215 – $126,646 |
| Colorado | $26,876 – $80,629 | $38,009 – $114,026 |
| Connecticut | $28,364 – $85,091 | $40,112 – $120,336 |
What are upper middle class jobs?
The most common professions of the upper-middle class tend to center on conceptualizing, consulting, and instruction. They include such occupations as lawyer, physician, dentist, engineer, professor, architect, civil service executive, and civilian contractor.
What is the lifestyle of middle class?
There is no official financial standard for what constitutes middle class. For most it’s more about a standard of living—including owning a home, being able to afford to pay for a college education for your kids, and having enough disposable income to take a family vacation.
What is the richest country in Europe?
Luxembourg
Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high standard of living. Luxembourg is a major center for large private banking, and its finance sector is the biggest contributor to its economy. The country’s main trading partners are Germany, France and Belgium.
What is the richest country in the world?
China
China has beat the U.S. to become the world’s richest nation, according to a new report. Key findings: Global net worth soared from $156 million in 2000 to $514 trillion in 2020, making the world wealthier than it was at any point in history.
