Strange, as it might seem, the World Bank ranks nations, sometimes without giving their actual per capita income. No explanation is given by the World Bank, other than a footnote that says: ‘2007 data not available; ranking is approximate.'
However, information gleaned from other sources bears out the World Bank ranking.
So the nation with the highest per capita income in the world is Liechtenstein, a small country bordering Switzerland and Austria. Liechtenstein's per capita income is about $80,000 per annum.
The principality has an industrialised economy, with banking and financial services being the mainstay. Tourism too is a major revenue earner for the nation.
The personal income tax rates in Liechtenstein too are exceedingly low: basic income tax rate is 1.2 per cent on income up to 200,000 Swiss Francs, and maximum is 5 per cent on income over 2 million Swiss Francs a year.
Image: A sign at the border of the Principality of Liechtenstein with Switzerland. | Photograph: Fabrice Coffrini/AFP/Getty Images
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