Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high standard of living. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy.

In 2026, the answer depends on whether you measure by total wealth or individual wealth. If looking at GDP per capita (PPP), which measures the wealth of the average citizen, Luxembourg remains the undisputed richest country in Europe (and the world). Its massive financial services sector and relatively small population result in an incredibly high standard of living. However, if you measure by Total National Wealth, Germany is the richest country in Europe, boasting the continent's largest economy and highest industrial output. Other top contenders include Ireland, which has seen astronomical GDP growth due to being a hub for multinational tech and pharma companies, and Norway, which maintains a massive sovereign wealth fund derived from its oil and gas reserves. Despite economic fluctuations, these four nations consistently occupy the top spots in European wealth rankings, providing their citizens with some of the best infrastructure and social services globally.