The Macau SAR is currently the 3rd richest jurisdiction by GDP per capita as of November 2024 with a GDP-PPP per capita of US$130,420, representing a 10.6-per cent annual GDP growth rate, while Luxembourg and Singapore come first and second, respectively, on Forbes India’s “Top 10 richest countries [or jurisdictions] by GDP per capita ranking 2024” published last week.
Macau, with a GDP of US$53.45 billion, is a special administrative region of the People’s Republic of China, the report noted.
The report listed the top 10 jurisdictions based on GDP per capita as estimated by the International Monetary Fund (IMF).
Gross Domestic Product (GDP) measures the total value of goods and services produced in a country or jurisdiction, such as Macau and Hong Kong.
“By dividing this number by the number of full-time residents, we get an idea of the general populace’s wealth. However, a more precise measure of a nation’s [or jurisdiction’s] wealth considers inflation rates and the costs of local products and services”, the report pointed out.
By considering both factors, Forbes India derived the Purchasing Power Parity (PPP) to get close to understanding the wealth held by various jurisdictions, although this may not be absolute statistics to accurately rank the richest or poorest jurisdictions in the world, the report added.
Meanwhile, the remaining jurisdictions on Forbes India’s top 10 list are (in order): Ireland, Qatar, Norway, Switzerland, Brunei Darussalam, United States and Denmark. (Gilbert Humphrey)
Photo: Yuxin Chen
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