Many people consider moving or traveling to Norway and get surprised when they start to read more in depth into the country. They hear that Norway is a rich country from various sources. People start to wonder if Norway really is a rich country. We are going to answer that question here today.
Most people think of a country that has a lot of surplus money or a large amount of spending is rich. This isn’t always true. There are a lot of things to consider when you think of a rich country. What about their amount of debt? Poverty levels also play a role in whether a country is rich or not. So does the performance of the local stock market.
A happy citizenry also makes a country rich. Without a happy citizenry, a rich country is likely to start losing money.
So is Norway rich when you take all of this into account? Yes, they are. Since 2014 people have been writing articles about the booming success that Norway has seen.
In fact, Norway is on most of the lists of richest countries in the world. This includes Forbes’ list, Yahoo’s, AOL’s, and World Atlas’s. Each list varies slightly as to where Norway places but it is almost always number six or seven on the list, quite high up.
The GDP for Norway is the second highest in the world, somewhere around $97,013 in the year 2014. With few exceptions their Gross Domestic Product has continued to rise throughout the years. Between 1971 and 2001 the raise was 177%. Places of equivalent size but are part of the European Union have only risen around 75%.
Oil exporting has become a big business in Norway, providing the country with a steady source of income that has helped to keep them rising in income. They produce a large amount of oil for a country their size.
Unlike some other countries in the world Norway’s assets exceed the amount of debt that it has in place. That means they are in the positive. Their debt fluctuates but is less than 40% of their GDP. A remarkable number for a world that likes the idea of borrowing money.
Part of what helps to make Norway such a rich country is their freedom from the European Union and other outside leadership. They have always remained a separate country and have voted to not join the Union each time.
What is more important though, is the pride the people of the country take in the state of their country. Cities, towns, and villages throughout Norway are all orderly and clean. Streets are free of trash and the people care for their land. That includes well used country-side.
Norway is also full of people who believe heavily in being educated. The citizens of the country have mastered languages from around the world easily. They also have mastered their different industries, such as fishing, oil production, and farming. Such high levels of mastery has led to the country having solid industries that are not crumbling like in other countries.
So after that you have learned some of the reasons that Norway is such a rich country. In many ways they are one of the richest countries in the world. Having such a strong citizen base the cares for where they live helps to make them a strong contender in the world. Their assets, lack of significant debt, and their income make them one of the most financially well off countries in the world. In short: all around Norway is a rich country.