Switzerland Ranked as the Fourth Richest Country in 2024

Switzerland has proudly secured the title of the fourth most prosperous nation on Earth for 2024, according to the latest Prosperity Index from HelloSafe. This alpine country shines brightly due to its high living standards and robust economy, making it a standout in the global landscape.

Insights from the HelloSafe Prosperity Index

To evaluate prosperity, HelloSafe analyzed nearly all countries worldwide, using comprehensive data from the World Bank and the United Nations. They measured prosperity through several key indicators, including:

• GDP per capita: This reflects national wealth and economic output.
• GNI per capita: This indicates disposable income and salaries.
• Gross national savings rate: This shows a country’s ability to save for the future.
• Human Development Index (HDI): This assesses life expectancy, education quality, and overall living conditions.
• Gini coefficient: This reveals levels of income inequality.
• Poverty rate: This measures the percentage of people living below the poverty line.

Consequently, each country received a weighted score across these categories, culminating in an overall score out of 100. Notably, countries scoring above 60 are classified as highly prosperous, boasting diversified economies, high living standards, low poverty rates, and moderate income inequality.

Switzerland’s Impressive Ranking

This year, Luxembourg topped the list as the richest country, scoring 86.2 points. Following closely behind were Norway (85.1) and Ireland (84.7). Meanwhile, Switzerland ranked fourth with a score of 81.17. Its strong economy and high wealth ratings, combined with a leading position in the Human Development Index, propelled Switzerland to this impressive status.

Furthermore, HelloSafe noted that western European nations like Switzerland benefit from robust economies, high salaries, and a fair distribution of wealth. The overall quality of life, therefore, plays a crucial role in their success.

Europe Dominates the Rankings

The 2024 rankings clearly demonstrate European dominance. Besides Switzerland, only Qatar (5th) and Singapore (6th) are non-European countries in the top 10. Among Switzerland’s neighbors, Germany ranks 13th with a score of 66.80, Austria follows in 14th with 66.43, France is in 20th place with 60.36, and Italy trails behind at 56.80.

In contrast, Mozambique was named the poorest country in the world for 2024, followed closely by Swaziland and Madagascar. These nations face severe socioeconomic challenges that hinder their development.

The Top 10 Most Prosperous Countries of 2024

According to HelloSafe, here are the 10 most prosperous countries for 2024:

1. Luxembourg (86.2)
2. Norway (85.1)
3. Ireland (84.7)
4. Switzerland (81.2)
5. Qatar (80.5)
6. Singapore (77.4)
7. Iceland (77.0)
8. Denmark (73.0)
9. The Netherlands (71.1)
10. Belgium (68.3)

For more details about the study and its methodology, visit the HelloSafe website.

Final Thoughts

Switzerland’s ranking as the fourth most prosperous country underscores its strong economy and high quality of life. As global conditions evolve, Switzerland remains a beacon of success, attracting individuals seeking a better lifestyle. With its unwavering commitment to maintaining robust economic growth and high living standards, the alpine nation is well-positioned to sustain its prosperity for years to come.

For more Swiss travel tips and inspiration, check out A Piece of Switzerland.