10 Countries With the Highest Incomes

Countries use various measures to gauge their wealth. Below we outline the 10 countries with the highest incomes, based on disposable income per capita. Disposable income is the amount of money a person has available after paying their taxes.

About Disposable Income Per Capita

Disposable income refers to the income an individual has left from gross income after subtracting payments for income taxes. Per capita simply means "average per person." Thus, disposable income per capita for a country is calculated by adding all the gross income for the country, subtracting a figure for taxes, and dividing the sum by the country's population.

The following 2022 disposable income per capita figures are the latest available from the Organisation for Economic Co-Operation and Development (OECD). The OECD defines these disposable income per capita figures as the gross household-adjusted disposable income per capita. All amounts are in U.S. dollars.

Population figures were obtained from the World Bank as of 2023. Gross domestic product (GDP) amounts for 2023 also come from the OECD.

1. United States

• Disposable income per capita: $58,228.51
• Population: 334.9 million
• Gross domestic product: $27.35 trillion

The United States tops the list. The country’s GDP was the largest GDP on our list, making the U.S. the world's largest economy. Key sectors in the U.S. include financial services, professional and business services, manufacturing, and healthcare. 

2. Luxembourg

• Disposable income per capita: $48,260.27
• Population: 668,610
• Gross domestic product: $95.84 billion
  

The small European country of Luxembourg is nestled between Germany, France, and Belgium. U.S. GDP is just a bit under 300 times the size of Luxembourg's. Much of Luxembourg’s economic success stems from banking, by which the country has grown into a global financial center.

3. Switzerland

• Disposable income per capita: $46,455.47
• Population: 8.8 million
• Gross domestic product: $822.86 billion

Switzerland is a country with a stable market economy, favorable taxation laws, strong financial and tourism sectors, and a skilled workforce. Its main exports are pharmaceuticals, gold, watches, and jewelry.

4. Austria

• Disposable income per capita: $40,525.28
• Population: 9.1 million
• Gross domestic product: $673.53 billion

The East Central European country of Austria borders Germany, the Czech Republic, Hungary, and Italy, among other nations. Over the years, the country’s shift toward privatization, i.e., less regulation, has improved its economy. Much of the economic growth is driven by the energy industry, with 87% coming from renewable sources.

5. Australia

• Disposable income per capita: $39,871.84
• Population: 26.6 million
• Gross domestic product: $1.94 trillion
  

Australia has a positive trade balance, exporting more than it imports. The country is rich in natural resources, which is reflected in one of the primary engines of its economy—mining. In 2022, it was the world's biggest exporter of coal briquettes, iron ore, and aluminum oxide.

6. Germany

• Disposable income per capita: $39,536.22
• Population: 84.5 million
• Gross domestic product: $5.86 trillion

Germany is a major exporter, notably of cars, and is the world's largest car exporter. It's home to major car brands such as Volkswagen, Daimler, and BMW. Germany is also a major exporter of chemicals.

7. Norway

• Disposable income per capita: $37,292.64
• Population: 4.6 million
• Gross domestic product: $576.34 billion

Norway makes its way with a natural resource-driven economy focused on oil, fisheries, and metals. Norway's sovereign wealth fund was worth $1.69 billion in 2024 and is funded largely by the country's oil industry.

8. Belgium

• Disposable income per capita: $35,612.62
• Population: 11.8 million
• Gross domestic product: $833 billion

Officially the Kingdom of Belgium, this country is located in northwestern Europe. Belgium is world-renowned for its chocolate shops and factories. Given its location, Belgium’s economic strong suit is exporting, notably vehicles and medicine. 

9. The Netherlands

• Disposable income per capita: $35,382.81
• Population: 17.9 million
• Gross domestic product: $1.49 trillion

Bordering the North Sea, the Netherlands's economic success has come about due to natural gas discoveries. Refined petroleum is its largest export category.

10. Canada

• Disposable income per capita: $34,305.12
• Population: 40.1 million
• Gross domestic product: $2.47 trillion

Canada exports more than it imports with the U.S. being its largest export partner. The country's top exports are crude petroleum, cars, gold, motor vehicle parts and accessories, and refined petroleum.

What Drives Higher Average Incomes?

Due to the nature of disposable income, changing spending habits does not impact it. Instead, higher wages or lower taxes are key to boosting disposable income. Here are some related ways that a country might increase it.

Population Changes

Lowering the population while keeping the income the same will increase per capita disposable income. However, that may be tough to do, as the trend for most countries is a growing population.

Hours Worked

Income per capita increases with a greater aggregate number of hours worked. And more employees going from part-time to full-time employment means more income per person. This contributes to increasing employment and a greater number of employed people will raise the income per capita.

Government Investment and Policies

Investing in technology can help make processes more efficient and boost income potential. More specifically, the allocation of resources in a more effective way can power income per capita. Government spending, such as on infrastructure and defense, can also increase incomes, as can government policies, such as tax programs and subsidies.

Education

Better-educated workers can lead the way to higher incomes. Those able to do more complex tasks, or to implement more productive ways of doing tasks, can improve pay rates by streamlining efficiency.

The Bottom Line

The countries with the highest disposable income per capita don't all have the largest population or GDP. The U.S., with a population of over 334 million and a GDP of more than $27 trillion, may top the list of countries with the highest incomes but countries such as Luxembourg and Norway, both with comparatively small populations and GDPs, rank second and seventh out of the top 10.