Which Government System is the Best for People's Wealth?
We have created a map which shows the per-capita GDP based upon the type of government in a country. The larger the country appears on the map, the higher the GDP per capita.
GDP for Republics
The map above shows the GDP per capita of countries with the republic form of government in red, including the United States. Among countries with this form of government, Singapore has the highest GDP per capita at $85.2k. Singapore is known for being hub of wealth management in the Asian region.
Switzerland has the second largest GDP per capita for republics at $60.5k followed by the United States in third at $55.8k. As can be seen from the map, there is a cluster of countries in Europe that have relatively high GDPs per capita. After Switzerland, both Ireland and Austria have the second and third highest GDPs per capita respectively in the region for republics.
The map shows the GDP per capita size in green for those countries with constitutional monarchies. Luxembourg has the highest GDP per capita in the group at $101.9k, the second highest in the world. The small European nation is an economic power fueled by a business-friendly government with low taxation rates. A well-educated population combined with a low unemployment rate, as well as the country’s small size, help make Luxembourg’s economy one of the strongest in the world.
Kuwait has the second largest GDP per capita among constitutional monarchies at $71.3k. The Middle Eastern country has significant oil resources as well as a large presence in the financial industry. Norway has the third highest GDP per capita in the group at $61.5k. The Nordic country similarly has large oil resources which have been invested in the country’s pension fund. The Government Pension Fund of Norway was valued at $837 billion as of May, 2016.
Finally, the map shows the GDPs per capita of countries with absolute monarchies in blue. The country of Qatar has the highest GDP per capita in the world at $143.8k. The small Middle Eastern nation has the third largest reserves of oil and natural gas and has also grown to be a financial hub in the region. The United Arab Emirates (UAE) is in second among absolute monarchies with a GDP of $70.2k. As seen from the map, the highest concentration of absolute monarchies is in the Middle East.
Continued Growth of GDP
Future GDP growth will determine the wealth of a country, as well as growth within a larger geographical region. The Middle East and Europe both have a significant concentration of high GDP countries. The gross world GDP growth reached an average of 3.1% in 2015 and is expected to grow even further in 2016. It remains to be seen whether wealth may see a redistribution to other areas around the world in the coming decades.
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Data: Governments & GDPs