Data from the International Monetary Fund shows that tourism-rich Mauritius is the wealthiest country in Africa.
With a modest population, extending towards two million, tourism, textiles, sugar, and financial services are the mainstays of the East African country’s economy.
In recent years, information and communication technology, seafood, hospitality and property development, healthcare, renewable energy, and education and training have emerged as important sectors, attracting substantial investment from both local and foreign investors.
Wealthy countries are measured in terms of their GDP, while a country’s prosperity is its per capita GDP – a country’s output per person (obtained by dividing its GDP by the population) – calculated in terms of purchasing power parity (PPP).
Simply put, residents of the countries whose GDP has the highest PPP per capita have the most money.
Mauritius leads the race in this regard with $22,966 per person, The sharp rise in Mauritius’ wealth over the past decade is primary due to its fundamentals – having a strong economic growth and a stable government – and also its ability to draw wealthy individuals to do business, and live there. Botswana is second on the list, at $18,582 per person, with Algeria third ($16,085 per person).
Nigeria although plagued by a massive divide between the rich and poor, and a stagnant economy is seventh in Africa when it comes to wealth.
1. Mauritius: $24,966
2. Botswana: $18,582
3. Algeria: $16,085
4. Egypt: $14,080
5. South Africa: $14,041
6. Tunisia: $12,862
7. Nigeria: $6,129
In the World stage, Qatar leads the race in this regard with $133,254 per person. Macau, the autonomous gambling mecca on the south coast of China, across the Pearl River Delta from Hong Kong, is second on the list, at $126,584 per person, with Luxembourg third ($112,622 per person)
1. Qatar: $133,254
2. Macau: $126,584
3. Luxembourg: $112,622
4. Singapore: $102,026
5. Brunei: $86,479
6. Ireland: $81,686
7. Norway: $76,620
8. United Arab Emirates: $72,182
9. Kuwait: $69,257
10. Hong Kong: $67,557
11. Switzerland: $66,779
12. San Marino: $63,045