I recently came across an interesting topic: many people think the United States is the wealthiest country in the world. In reality, it depends on how you measure it. If you look at the overall size of the economy, the U.S. is indeed number one. But when it comes to per capita GDP—meaning the wealth created on average per person—the U.S. doesn’t even make it into the top three.

I checked the data. Luxembourg ranks first in the world with a per capita GDP of $154,910, followed closely by Singapore at $153,610. Macau SAR also has $140,250. By contrast, the U.S. has a per capita GDP of only $89,680, ranking tenth. The gap is quite significant.

What’s interesting is that the countries ranking at the top each have their own routes to prosperity. Luxembourg built its wealth through finance and banking services. Singapore attracts investment through a business-friendly environment and low tax rates. Qatar and Norway mainly derive their wealth from oil and natural gas. A country’s success is never an accident.

As for what per capita GDP means, it’s essentially a country’s total income divided by its population, used to gauge the average standard of living. But this metric has a problem: it doesn’t account for income inequality. The U.S. is a typical example. Although its economy is massive overall, income inequality within the country is among the most severe among developed nations, and the gap between the rich and the poor continues to widen.

I’ve also noticed that countries with high per capita GDP rankings tend to share several common traits: political stability, a sound rule of law, a favorable business environment, and high educational standards. Singapore is widely regarded as one of the most clean and open countries in the world. Switzerland has consistently ranked first in global innovation rankings year after year. None of this is coincidence.

There’s another detail worth paying attention to: although Guyana ranks ninth in per capita GDP ($91,380), this has only happened in recent years. In 2015, they discovered large offshore oil fields, and the economy grew rapidly. This shows that natural resources can indeed change a country’s fate. But in the long run, diversified development is the way to go. Brunei and Qatar are both working to achieve economic diversification now—that’s the principle at work.

By comparison, even though the U.S. doesn’t stand out as much in per capita GDP, as the world’s largest economy it controls global financial hubs such as the New York Stock Exchange and NASDAQ, and the dollar’s role as an international reserve currency is unshakable. Moreover, the U.S. is also a global leader in R&D spending, investing 3.4% of GDP in R&D every year. So, just judging a country’s economic strength solely by per capita GDP is actually not comprehensive enough.

In summary, this ranking gave me an insight: truly wealthy countries are often not built on a single advantage, but on the combined effect of factors such as policy, talent, innovation, and stability.