Singapore earned the spot as the world’s second-richest country in 2025, according to British publication The Economist’s annual ranking. The city-state achieved a GDP per capita of US$90,700, trailing only Switzerland’s US$100,000 while surpassing Norway’s US$86,800 among 178 evaluated nations. This highlights Singapore’s economic strength as Southeast Asia’s leader, far ahead of Brunei (US$33,400) and Malaysia (US$11,900).
The ranking uses average annual earnings at market exchange rates. When adjusted for purchasing power parity (PPP)—factoring local costs—Singapore claims first place globally, reflecting higher real living standards. However, including average work hours drops Singapore to eighth, as locals average 43.3 hours weekly versus Norway’s 33.2. Singapore ranked 25th in Remote.com’s 2025 Global Life-Work Balance Index (score 57.85/100), topping Asia despite long hours.
Singapore’s success stems from its role as a global trade, finance, and manufacturing hub, with 98% adult literacy and tax perks like no capital gains tax. GDP grew 4.8% in 2025 amid challenges like US tariffs. This ranking underscores productivity, though work-life balance remains a concern.
FAQs [Frequently Asked Questions]
1. What GDP per capita score did Singapore get?
US$90,700, placing second behind Switzerland (US$100,000) and ahead of Norway (US$86,800) in The Economist’s 2025 ranking of 178 countries by average earnings.
2. How does PPP adjustment change Singapore’s rank?
Under purchasing power parity for local costs, Singapore tops globally, exceeding Switzerland, as it boosts real purchasing power from high earnings.
3. Why does Singapore drop when work hours are factored?
Averaging 43.3 hours weekly (vs. Norway’s 33.2), it falls to eighth; long hours reduce per-hour productivity in the adjusted Economist metric.