In the report released by Global Finance Magazine, Taiwan ranked as the 17th richest country in the world. The report entitled “The World’s Richest and Poorest Countries 2019” where 191 countries were ranked based on relative levels of wealth and poverty. Philippines ranked at 118th in the list.
The ranking was based on per capita income and adjusted for purchasing power. Qatar tops the list of richest countries followed by Macau on 2nd spot the Luxembourg on the 3rd spot, then Singapore and Brunei respectively to round off the top 5.
As Taiwan ranked in the 17th richest country, ahead of Taiwan are Ireland, Norway, United Arab Emirates, Kuwait and Hong Kong for the 6th to 10th spots, followed by Switzerland, United States, San Marino, Netherlands, Saudi Arabia and Iceland for the 11th to 16th place. The last 13 countries out of the 191 are all from Africa.
Per capita income and purchasing power parity are the main factors in inflation rates, price of goods and services, as Global Finance gathered all data to rank all 191 countries.
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