West-Indies cricket captain and star of Mumbai Indians – Kieron Pollard’s country has been ranked higher than India, China and Russia for standard of living. Trinidad and Tobago is the southernmost island country in the Caribbean consisting of the main islands Trinidad and Tobago, and many other much smaller islands.
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Trinidad and Tobago has produced some of the greatest players for the West Indies cricket including Brian Lara and Dwayne Bravo.
Trinidad and Tobago has been ranked 49th—higher than 142 countries globally—in terms of standard of living. The ratings are based on the Gross Domestic Product (GDP) on purchasing-power-parity (PPP) per capita.
This is indicated in a Global Finance article from the International Monetary Fund (World Economic Outlook) on the World’s Richest Countries 2019.
The article writes that the richest nations are among the tiniest globally. The rankings which were calculated on values are expressed in current international dollars, to the nearest whole dollar, reflecting a single year’s (2018) currency exchange rates and PPP adjustments.
The article analysed how a country is seen as rich, “Especially in an era of increasing income inequality between the rich and everyone else. While gross domestic product (GDP) measures the value of all goods and services produced in a nation, dividing a country’s GDP by the number of the full-time residents is a better way of determining how rich or poor one country’s population is relative to another’s.”
According to the article, “The reason why ‘rich’ often equals ‘small’ then becomes clear: these countries’ economies are disproportionately large compared to their comparatively small populations.”
“However, only when taking into account inflation rates and the cost of local goods and services can we get a more accurate picture of a nation’s average standard of living: the resulting figure is what is called purchasing power parity (PPP), which is often expressed international dollars in order to allow comparisons between different countries,” the article stated
In the list, Trinidad and Tobago was ranked 49th, beating out China, India, Pakistan, nearly all African states, several European countries—including Greece—and most Caribbean countries including Jamaica, Antigua and Barbuda.
Regionally, only the Bahamas was above Trinidad and Tobago along with developed nations including the US, UK France, Saudi Arabia, Switzerland, Germany, Spain etc.
Trinidad and Tobago also bettered Russia and several other Asian, Middle East and South American nations including Lebanon, Mexico, Argentina and Brazil.