When you think of the world's wealthiest nations, you might immediately think of places like America. It's easy to assume that power and wealth are synonymous, leading one to believe that a global superpower would also be the richest country.

However, the truth is found in a small European nation with a population just over 650,000. Luxembourg, known as the financial capital of the world, outstrips countries such as Qatar and Sweden to top the list of the richest countries according to Global Finance. With a GDP per capita of $143,743 (£109,820), it is more than twice as wealthy as the UK, which has a current GDP per capita of £58,880.

This diminutive nation, sharing borders with Germany, France, and Belgium, is renowned for being a financial hub.

With over 155 banks, it is particularly appealing to foreign investors and has earned a worldwide reputation as a business-friendly nation.

Thanks to robust sectors in tourism, information technology, and logistics, Luxembourg's GDP punches above its weight. The country also boasts a thriving steel production industry, providing employment for a significant portion of the population.

In 2023 alone, Luxembourg generated $31.6million (£24.1million) from exports, led by iron products, cars and vehicle parts, gas turbines, and adhesive plastics.

Global Finance reveals that Luxembourg, with its substantial wealth, provides its citizens with some of the highest living standards in Europe, including top-notch housing, healthcare and education.

Luxembourg isn't alone as a small, affluent nation on the list - Singapore, San Marino and Switzerland also feature in the top ten. However, the UK didn't manage to secure a spot in the top ten or even the top 20, landing instead at number 31.