I noticed something interesting while looking at the global economic rankings. When thinking about the wealthiest countries in the world, many automatically imagine the United States with its gigantic economy. But the reality is much more nuanced than that.

In fact, several small nations far surpass the United States in terms of GDP per capita. And that’s where it gets fascinating, because we discover two completely different economic models for accumulating wealth.

On one side, there are countries that have bet on natural resources. Qatar and Norway are the best examples. These nations have turned their oil and gas reserves into true wealth-generating machines. Qatar has a GDP per capita of $118,760, while Norway reaches $106,540. That’s massive, but it also creates dependence on fluctuations in global commodity prices.

On the other side, there are economies built on financial services and innovation. Luxembourg leads with an impressive $154,910 per capita. Singapore follows closely with $153,610. These two countries have built their economic dominance on solid foundations: stable governance, a highly skilled workforce, a business-friendly environment. Luxembourg transformed from a rural economy into a global financial hub. Singapore, despite its tiny size, has become an essential economic center in Asia.

Ireland also represents an interesting case study. With $131,550 per capita, it managed to break out of stagnation by opening up its economy and attracting foreign direct investment through low corporate taxes. Today, it thrives in pharmaceutical, medical equipment, and software development sectors.

But what really strikes me is this: even among the wealthiest countries in the world, new players are emerging. Guyana, for example, experienced explosive economic growth after discovering its oil fields in 2015. It now has $91,380 per capita and continues to climb.

And then there are the United States, ranked 10th with $89,680 per capita. It’s counterintuitive for many people, but it makes sense when looking at the numbers. The U.S. has the largest nominal economy, but its huge population dilutes the GDP per person. What worries me more is income inequality in the U.S., one of the highest among developed countries. And this national debt has surpassed $36 trillion, or 125% of GDP.

What really stands out is that a nation’s wealth isn’t only measured by the size of its economy. The wealthiest countries today are those that have understood how to create value, either through smart exploitation of their resources or through innovation and services. And maintaining that balance is a fragile act.