In The Economist’s 2025 global wealth rankings covering 178 nations, Cyprus was positioned mid-tier, with Switzerland at the top and Burundi at the bottom.
The rankings consider three indicators: nominal income at market exchange rates, purchasing power parity (PPP) accounting for local price levels, and income adjusted for both local prices and working hours.
Switzerland tops the list for nominal GDP per capita, averaging over $100,000 in earnings. Singapore and Norway follow with figures of $90,700 and $86,800, respectively. However, Switzerland’s high cost of living significantly reduces the real value of these earnings.
When adjusted for local price levels, Singapore takes the lead. Adding in working hours shifts Norway to the top spot for the second year running, followed by Qatar and Denmark.
The United States, despite being the largest economy by total GDP, ranks 4th, 7th, and 6th across the three metrics. Meanwhile, the UK lands at 19th, 27th, and 25th.
At the bottom of the list is Burundi, where the average income equals just 0.15% of that in Switzerland. After adjusting for purchasing power, one Swiss salary would equate to the combined income of 100 Burundians.
Cyprus ranks significantly higher than the poorest nations but does not enter the global top tier. Its nominal GDP per capita stands at $26,700, rising to $42,400 when adjusted for local costs. When also factoring in working hours, the figure reaches $59,500—suggesting a favorable cost of living and a well-balanced work-life structure.
In contrast, Greece’s nominal per capita income is lower at $24,800, though it surpasses Cyprus in purchasing power terms at $44,100. However, its earnings drop to $38,400 after adjusting for both prices and working hours, highlighting a more strenuous work environment.
The Economist also pointed to broader structural factors affecting rankings. Countries with lower female labor participation, such as Saudi Arabia and Turkey, show inflated income per hour figures due to concentrated earnings. Demographics also play a role: nations with older populations like Italy, or youthful ones like Nigeria, place additional burden on their working populations.
Guyana made the most substantial progress in this year’s report, jumping an average of 17 positions due to soaring incomes driven by an oil-fueled economic boom.
The U.S. saw a modest rise of 1.6 positions on average, though The Economist criticized its tariff policies as detrimental to living standards.
