Singapore is 2nd richest country in the world in 2025, but drops to 8th for long work hours

What good is all the money in the world if you don't have the time to spend it? 

Singapore ranks second among the richest countries in the world in 2025 based on gross domestic profit (GDP) per capita and after adjusting for price differences, according to an infographic by The Economist on Monday (Jan 5). 

However, the infographic includes a third element — prices and hours worked. 

With that factored in, Singapore falls to eighth place. 

This is among the 178 countries evaluated by The Economist, with the top three countries being Switzerland, Singapore and Norway.

Switzerland takes the lead in terms of average earnings at over US$100,000 (S$128,600) per year, but falls behind due to their high cost of living, The Economist reported. 

In contrast, Singapore, with earnings at US$90,700 per year, has lower local costs, while Norway stands at US$86,800 per year. 

 

 

 

 

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When adjusted for hours worked, however, it is Norway that comes out on top, the British publication stated in its annual report, which was first published in July 2025.

According to the Ministry of Manpower, the annual average of actual hours worked per employed person in Singapore stood at 43.3 per week in 2024. 

Comparatively, those in Norway worked 33.2 hours per week in 2024, according to the International Labour Organisation.

In August, Remote.com's 2025 Global Life-Work Balance Index of 60 countries ranked Singapore at 25, with an index score of 57.85 over 100.

New Zealand, Ireland and Belgium held index scores of 86.87, 81.17 and 75.91 respectively. However, Singapore was the top Asian country on the list for work-life balance. 

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khooyihang@asiaone.com