Based on Gross Domestic Product (GDP) per capita, the International Monetary Fund determined the world’s richest countries – and the UK is far down the ladder.

Namely, GDP is related to economic growth, stability, financial health and taxpayers’ contributions to the economy.

In top spot, titled as being the richest country in the world, is the small European country of Luxembourg.

With only having a population of around 653,000 people, there’s less people in the country of Luxembourg than there is in the city of London (around 8.9 million).

How then, did Luxembourg achieve such a high financial standing? The answer, it would seem, is what the wealth is measured by – whether it’s GPD, national net wealth, or happiness score.