GDP per capita determines the level of economic development of the country: the higher the GDP per capita in a country the higher the economic wealth of its citizens.
Since the beginning of the century, Luxembourg, Switzerland, and Norway have the sustainable high positions of GDPs per capita at current prices with Luxembourg being the leader. In 2017, Luxembourg's GDP per capita has grown by $3,613 compared to 2016 to reach a level of approximately $110,000. At that, the real GDP growth of Luxembourg is estimated at 3.5 percent in 2017 which is 2.6 percentage points more than in the previous year.
GDP per capita based on purchasing power parity (PPP) is a more accurate characteristic determining the level of economic development and economic growth. Based on this approach, Qatar has the highest GDP per capita in the world while Luxembourg ranks the second.
According to the definition given by Global Purchasing Power Parities and Real Expenditures International Comparison Program,...