Cyprus ranks mid-table in global wealth list for 2025

Cyprus has been ranked in the middle of the global wealth rankings for 2025 by The Economist, which placed Switzerland at the top and Burundi at the bottom in its assessment of 178 countries.

The list measures income at market exchange rates, purchasing power adjusted for local prices, and earnings adjusted for both prices and working hours.

Switzerland leads in nominal GDP per person, with average earnings of more than $100,000 last year. Singapore and Norway follow, at $90,700 and $86,800, respectively.

But Switzerland is also one of the most expensive countries in the world, meaning its high salaries do not stretch very far.

Adjusted for local costs, Singapore jumps ahead. And when working hours are also factored in, Norway takes first place for the second consecutive year, followed by Qatar and Denmark.

The United States, the world’s biggest economy by total GDP, ranks fourth, seventh and sixth on the three measures, while Britain is placed 19th, 27th and 25th.

At the other end of the scale, Burundi sits last. Most of its population is under 17 years old, and incomes there amount to just 0.15 per cent of Switzerland’s.

Even after adjusting for prices, a single Swiss income would be shared between 100 Burundians.

According to the British publication, Cyprus ranks far above the lowest-income nations but falls short of the global elite.

The island’s GDP per person at market exchange rates is $26,700, climbing to $42,400 once adjusted for price differences.

When factoring in both prices and working hours, Cyprus reaches $59,500, underlining its relatively affordable cost of living and balanced work patterns compared to some higher-ranked economies.

Neighbouring Greece sits just below Cyprus on the first measure, with a GDP per person of $24,800, but performs slightly better when adjusted for price differences, reaching $44,100.

However, Greece’s figure drops to $38,400 when factoring in both prices and working hours, reflecting a heavier work burden relative to income.

The Economist’s analysis also highlighted structural differences between countries.

In economies where fewer women participate in the workforce, such as Saudi Arabia and Turkey, earnings are concentrated among a smaller group, inflating per-hour income figures.

Countries with unusually old or young populations also shift positions.

For example, many people are retired in Italy, while in Nigeria, many are not yet of working age.

In both cases, a smaller working cohort supports a larger one.

Guyana saw the largest overall climb in this year’s rankings, gaining an average of 17 places thanks to an oil boom that has lifted average incomes by more than 40 per cent year on year.

The United States also improved slightly, rising an average of 1.6 places, though The Economist noted its tariffs as an assault on living standards.