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Countries use various measures to gauge their wealth. Below we outline the 10 countries with the highest incomes, based on disposable income per capita. Disposable income is the amount of money a person has available after paying their taxes.
Key Takeaways
- Disposable income per capita is one way to measure a country’s wealth.
- Disposable income is income available for spending and saving after taxes have been paid.
- The United States had $62,722 in disposable income per capita in 2023 (latest information), the most of any nation.
- Other countries with high disposable income per capita include Luxembourg, Switzerland, Germany, and Australia.
- Of the top 10 countries, Canada had the smallest per capita disposable income at $34,305.
About Disposable Income Per Capita
Disposable income refers to the income an individual has left from gross income after subtracting payments for income taxes. Per capita simply means “average per person.” Thus, disposable income per capita for a country is calculated by adding all the gross income for the country, subtracting a figure for taxes, and dividing the sum by the country’s population.
Fast Fact
Money per capita can refer to income per capita, money supply per capita, gross domestic product (GDP) per capita, or even net worth per capita. Income per capita can refer to discretionary income per capita or disposable income per capita.
The following 2023 household disposable income per capita figures are the latest available from the Organisation for Economic Co-Operation and Development (OECD). The OECD defines these household disposable income per capita figures as the gross sum of household final consumption expenditure and savings. All amounts are in U.S. dollars.
Population and gross domestic product (GDP) figures were obtained from the World Bank. All data will be from 2024 unless otherwise noted.
1. United States
- Disposable income per capita: $62,722
- Population: 340.11 million
- Gross domestic product: $29.18 trillion
The United States tops the list. The country’s GDP was the largest GDP on our list, making the U.S. the world’s largest economy. Key sectors in the U.S. include financial services, professional and business services, manufacturing, and healthcare.
2. Luxembourg
- Disposable income per capita: $47,366
- Population: 677.72 million
- Gross domestic product: $93.2 billion
The small European country of Luxembourg is nestled between Germany, France, and Belgium. U.S. GDP is just a bit under 300 times the size of Luxembourg’s. Much of Luxembourg’s economic success stems from banking, by which the country has grown into a global financial center.
3. Switzerland
- Disposable income per capita: $47,124
- Population: 9.03 million
- Gross domestic product: $936.6 billion
Switzerland is a country with a stable market economy, favorable taxation laws, strong financial and tourism sectors, and a skilled workforce. Its main exports are pharmaceuticals, gold, watches, and jewelry.
6. Austria
- Disposable income per capita: $40,934
- Population: 9.18 million
- Gross domestic product: $521.64 billion
The East Central European country of Austria borders Germany, the Czech Republic, Hungary, and Italy, among other nations. Much of the economic growth is driven by the energy industry, with 87% coming from renewable sources in 2023.
5. Australia
- Disposable income per capita: $41,194
- Population: 27.20 million
- Gross domestic product: $1.75 trillion
Australia has a positive trade balance, exporting more than it imports. The country is rich in natural resources, which is reflected in one of the primary engines of its economy—mining. In 2023, its biggest exports were coal briquettes, iron ore, and petroleum gas.
4. Germany
- Disposable income per capita: $43,042
- Population: 83.51 million
- Gross domestic product: $4.66 trillion
Germany is a major exporter, notably of cars, and is the world’s largest car exporter. It’s home to major car brands such as Volkswagen, Daimler, and BMW. Germany is also a major exporter of chemicals.
Fast Fact
Disposable income differs from purchasing power parity (PPP), which is another measure of a country’s wealth. PPP is used to compare prices for goods across countries, with the Big Mac Index being one of the most famous examples of PPP.
8. Norway
- Disposable income per capita (2022): $37,081
- Population: 5.57 million
- Gross domestic product: $483.73 billion
Norway makes its way with a natural resource-driven economy focused on oil, fisheries, and metals. Norway’s sovereign wealth fund was worth $1.94 billion as of August 2025 and is funded largely by the country’s oil industry.
7. Belgium
- Disposable income per capita: $37,365
- Population: 11.88 million
- Gross domestic product: $664.56 billion
Officially the Kingdom of Belgium, this country is located in northwestern Europe. Belgium is world-renowned for its chocolate shops and factories. Given its location, Belgium’s economic strong suit is exporting, notably vehicles and medicine.
9. The Netherlands
- Disposable income per capita: $36,567
- Population: 17.99 million
- Gross domestic product: $1.23 trillion
Bordering the North Sea, the Netherlands’s economic success has come about due to natural gas discoveries. Refined petroleum is its largest export category.
10. Canada
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- Disposable income per capita: $35,561
- Population: 41.29 million
- Gross domestic product: $2.24 trillion
Canada exports more than it imports with the U.S. being its largest export partner. The country’s top exports are crude petroleum, cars, gold, motor vehicle parts and accessories, and refined petroleum.
What Drives Higher Average Incomes?
Due to the nature of disposable income, changing spending habits does not impact it. Instead, higher wages or lower taxes are key to boosting disposable income. Here are some related ways that a country might increase it.
Population Changes
Lowering the population while keeping the income the same will increase per capita disposable income. However, that may be tough to do, as the trend for most countries is a growing population.
Hours Worked
Income per capita increases with a greater aggregate number of hours worked. And more employees going from part-time to full-time employment means more income per person. This contributes to increasing employment and a greater number of employed people will raise the income per capita.
Government Investment and Policies
Investing in technology can help make processes more efficient and boost income potential. More specifically, the allocation of resources in a more effective way can power income per capita. Government spending, such as on infrastructure and defense, can also increase incomes, as can government policies, such as tax programs and subsidies.
Education
Better-educated workers can lead the way to higher incomes. Those able to do more complex tasks, or to implement more productive ways of doing tasks, can improve pay rates by streamlining efficiency.
Which Country Has the Highest Per Capita Income?
The U.S. has the highest disposable income per capita at $62,722 in 2023 with a total population of 336.81 million in 2023. Please note, the U.S. population increased to 340.11 in 2024; disposable income data is not available for 2024 as of August 2025.
How Do You Calculate Per Capita Income?
To get a figure for per capita income, one can total the amount of a country’s income and divide it by the figure for its population.
How Does Disposable Income Differ From Discretionary Income?
Disposable income is a person’s gross income less the amount spent to pay taxes. Discretionary income is gross income less tax payments as well as payments for fixed costs such as mortgage, food, insurance, etc.
The Bottom Line
The countries with the highest disposable income per capita don’t all have the largest population or GDP. The U.S., with a population of over 340 million and a GDP of more than $29 trillion, may top the list of countries with the highest incomes but countries such as Luxembourg and Norway, both with comparatively small populations and GDPs, rank second and eighth out of the top 10.
