You should use Gross National Product or Gross National Income for all of these comparisons to correct for the distortions you mention. Small countries that are

You should use Gross National Product or Gross National Income for all of these comparisons to correct for the distortions you mention. Small countries that are well governed and regulated enough to have a large financial sector look even better using GDP per capita than GNI per capita but Luxembourg, Hong Kong, Ireland, Singapore etc. do very well even on a GNI basis. https://en.wikipedia.org/wiki/List_of_countries_by_GNI_(PPP)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GNI_(PPP)... Average individual consumption is a better measure of the standard of living though unfortunately all we have reliably is household final consumption. Again, the rankings are quite similar. https://en.wikipedia.org/wiki/List_of_countries_by_household_final_consumption_expenditure_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_household...