Up Front
Bermuda one ofWorld's Richest Countries
Bermuda is the third richest country inthe world with average wages higher than the United States, accordingto figures released from the World Bank yesterday.
The tiny European states of Luxembourg andLiechtenstein are listed ahead of the Island when it comes topurchasing power in 1999. Purchasing power - the average wage- in 1999 in Luxembourg, which topped the table, was $41,230.No figure was listed for Liechtenstein in second place or Bermuda.
But, according to Bermuda's Quarterly Bulletinof Statistics, for the fourth quarter of 2000, the average wageon the Island was $41,495. It is not known if average wages inLuxembourg have increased since 1999.
The United States is in fourth place witha purchasing power of $31,910. The US still has the largest economy,twice the size of China, which has overtaken Japan to be the secondbiggest economy in the world. San Marino and the Cayman Islandscome in next with unspecified figures, followed by Switzerlandat $28,760.
Canada is 14th ($25,440), the United Kingdomis 29th with $22,220, trailing just behind Germany, France, HongKong, Singapore, and Ireland. The world's poorest country, accordingto the figures, is Sierra Leone, with a purchasing power of $440.
Luxembourg is also listed by the World Bankas the wealthiest country when it comes to gross national income(GNI) per head in 1999, formerly gross national product.
Bermuda is listed as fourth in the worldin this category with an unlisted GNI, trailing behind Luxembourg($42,930), Liechtenstein, unlisted, and Switzerland ($38,380).