Dublin: Ireland is projected to overtake Luxembourg as the richest country in Europe within the next four years, according to the latest outlook from the International Monetary Fund (IMF).
The forecast, published in the IMF’s World Economic Outlook, ranks countries based on GDP per capita adjusted for purchasing power parity (PPP). Under this measure, Ireland’s GDP per capita is expected to reach approximately €168,000 by 2030, surpassing Luxembourg, which is projected at €154,000.
Other high-performing economies in the ranking include Norway, Switzerland, and Denmark. Larger economies rank further down the list, with Germany placed 12th, France 15th, and United Kingdom 16th. The report highlights a widening gap between the top five countries and the rest of Europe.
However, economists caution that Ireland’s GDP figures are significantly influenced by the presence of multinational corporations, which can distort the true picture of domestic economic performance. Many experts argue that Gross National Income (GNI) provides a more accurate reflection of Ireland’s economy. Using this measure, Ireland would not rank among the top four European economies.
In a separate comparison based solely on nominal GDP (without PPP adjustment), Luxembourg is expected to retain its position as Europe’s wealthiest country by 2030.
The IMF also identified Netherlands and Malta as strong performers in the coming years, ranking sixth and seventh respectively. Meanwhile, Italy is projected to rank 18th and Spain 22nd.
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