Looking for the best countries to get rich? Here I have mentioned the top 10 countries where you can get high salaries and high profits in your business.
Even many professionals in their field of work are looking for jobs and businesses elsewhere. In addition to high salaries, they are looking for adventure, a different life, a change of culture, or an environment where they can make the most of their potential.
Many counties are best to get rich but HSBC recently published the results of a survey that compares the lives of immigrants in countries based on various criteria such as job security, work-life balance, politics, career advancement, security, health, social life, and so on.
Given that we are only interested in the financial aspect of immigrants’ lives, we have considered only three financial indicators in the field of immigration, which are:
Available Income – Indicates which countries offer the highest income to immigrants.
Further Growth – Indicates in which countries immigrants can get the highest pay over time.
Job Sustainability – Specifies in which countries immigrants can easily find a stable job.
The list of countries provided by HSBC focuses only on immigrants, so it is not like the GNI and other lists that identify high-paying jobs for the domestic workforce.
We were eager to find the best countries to make quick money for immigrants and other foreigners living there, and I found the HSBC survey to be the best answer.
We have also mentioned countries where it is easy to do business because many immigrants migrate to other countries to start their own business, and the ability to earn as an entrepreneur is based on the average monthly salary of immigrants or being stable. Jobs are not dependent.
So by merging the rankings of countries in HSBC and the World Bank list, we tried to create an article that would be useful for both those who are interested in starting a business and those who are looking for a job.
10 Best Countries to Get Rich
Here are the 10 Best countries to get rich:
1 – Norway
Norway is the clear winner of the list of the best countries to get rich quick.
Midnight Sun Land has a strong job market due to activities such as oil production, exports, and IT. Many migrants migrate to Norway to work in IT related to oil companies. Working for oil companies usually involves working in harsh and dangerous environments, such as remote platforms in the north.
However, given that Norway is one of the countries with the best interests for immigrants and locals, these difficulties can significantly increase people’s incomes.
It has one of the highest transparency and efficiency in taxation and social welfare in the world.
2 – Switzerland
When we talk about Switzerland, most people think of the villages in the Alps. However, there are also many bustling cities in this country, which has made it one of the largest business centers in Europe.
Many immigrants immigrate to Switzerland to work in the banking sector or gain a position in international organizations such as the UN. These jobs are highly paid, and Switzerland is among the countries where the labor force receives the best pay.
Like many European countries on the list, Switzerland is known for its orderliness, precise transportation system, and excellent social welfare laws. Of course, starting a business in this country is more difficult than in other Western countries because of the lack of laws that should protect minority investors.
3 – Germany
Germany has one of the largest economies in the world.
The country is currently trying to limit the entry of illegal and unskilled immigrants, but professionals have a great opportunity to be employed in industries where there is a shortage of skilled labor.
Germany’s IT industry is huge, and the country is constantly looking for labor in continental Europe. Many high-paying immigrants also work as representatives of large international companies.
The German tax system is not as transparent as in the Scandinavian countries, but starting a business is very simple. Starting a company in Germany gives you access to a large and profitable European market.
4 – Sweden
Sweden is known as a destination for both entrepreneurs and immigrants looking for work in various fields.
Some of the largest international companies, such as IKEA, Eriksson, and Tetrapak, have started in Sweden. It provides transparent and fast government services and a long list of grants to both domestic and foreign investors.
Sweden also has a high average income, which is why it is a popular destination for European, African, and Middle Eastern immigrants. However, like many Scandinavian countries, Sweden has strict immigration controls.
5 – Singapore
Singapore can be considered a paradise that has hosted many large foreign companies.
The government of this small country attracts both investors and job-seeking immigrants with grants, low taxes, and high average wages. Many international companies consider Singapore as their Asian hub.
Many immigrants also find work in banks, insurance companies, forex and transportation companies, and financial institutions.
On the other hand, the port of Singapore is also one of the major hubs for transporting various Asian goods.
6 – United Arab Emirates
The UAE has the highest number of sheikhdoms in the Middle East in the list of the best countries to get rich.
Many of these countries are on this list because of their oil industry, and this has led other businesses to thrive in other fields and offer high salaries to immigrants from other parts of the world. Dubai and Abu Dhabi are also important transportation hubs as well as one of the most popular tourist destinations.
The UAE is also one of the countries where architects and construction professionals can earn a very high income with huge construction projects.
7 – Qatar
Immigrants from around the world make up a large part of the country’s population. Like many developed countries in the Middle East, Qatar is heavily dependent on oil exports and related industries.
It is also home to one of the most popular airlines in the world, connecting the Qatari capital to dozens of Western and Asian cities.
High-paying companies are active in the construction, oil, and tourism industries. Architects and construction professionals have done a good job preparing Qatar for the FIFA Games.
Doing business in Qatar will be a slow, tedious, and possibly painful experience, which is why Qatar ranks relatively low in “doing business”.
8 – Kuwait
Although more than 80 percent of Kuwait’s workforce is made up of immigrants, the country has enacted several strict immigration laws in recent years. Unlike Saudi Arabia, business in Kuwait and social culture are influenced by Western customs.
As a result, immigrants who can reach Kuwait can earn lucrative jobs in finance and oil.
While Kuwait has an open economy, it does not rank well in the list of suitable countries for business. The main reason for restricting entrepreneurs and trading across borders is to set tough rules.
9 – Bahrain
With high salaries and no taxes for individuals, Bahrain is one of the top destinations for immigrants looking for work.
However, the rights of individuals in Bahrain have not followed the global trend, and today the city of Manama is less popular than Dubai, Abu Dhabi and Doha, and other business centers.
Like many Middle Eastern countries, the largest well-paid companies in Bahrain operate in the oil and gas, tourism, and banking sectors.
10 – Oman
Oman’s dependence on skilled and foreign labor has made it a hub for immigrants. Of course, the Omani government has adopted a new policy that employers can only hire a foreigner if there is no qualified Omani. However, the labor market in Oman is very promising and dynamic.
Many immigrants work in the oil, IT, and banking industries, earning high salaries and opportunities for advancement. Despite its relatively good economy, it is not a good place to start a business (especially compared to Europe and the United States).
Regardless of whether you want to get rich or not, where do you like to work and live? Write your opinion in the comments section.