17 Countries That Are Nowhere Near As Wealthy As You Imagine 

It’s just so easy to imagine that with every glittering skyline or flashy travel ad comes wealth, but sometimes the appearances are just optical illusions. Many times, one considers certain nations to be prosperous because of some aspect of their history, culture, or even global reputation. However, the economic reality on the ground can be quite contrary to such shining images. 

Here is a list of 17 countries whose wealth will actually surprise you—not because it’s vast but because it falls short of the global perception. From struggling industries to economic mismanagement, there are plenty of reasons these countries aren’t as well off as you might think. Let’s dig in. 

Argentina 

Argentina brings to mind tango, steak, and picturesque landscapes, but the economy of the country is out of step. From its position as one of the richest countries in the world at the beginning of the 20th century, repeated debt crises, runaway inflation, and political instability have kept it from recouping its former glory. These days, this country’s inflation rate hovers at well over 100% making life difficult for an ordinary citizen. 

South Africa 

Beautiful landscapes and wildlife, not to mention gold and diamonds, mark South Africa as a country of true natural riches, but high unemployment, acute inequality, and political corruption have conspired against any real economic growth. In 2023, unemployment was stubbornly above 30%, while more than half the population lived in poverty. A reminder if needed that natural riches do not equate to general wealth. 

Greece 

Since the crisis that began in 2008, Greece has been infamous for its debt. After being helped out numerous times by bailouts and extremely strict austerity measures, the country still struggles to come out of debt and unemployment problems. Many of its young Greeks move elsewhere in search of better prospects, which grounds the economy.

Venezuela 

From the pride of Latin America, this oil-booming country has turned out to be a cautionary tale victim to the scourge of mismanagement, corruption, and eventual economic collapse. Hyperinflation is making currencies worthless, there is a shortage of food, and healthcare has collapsed completely. It sits over some of the largest proven reserves of oil in the world, still, Venezuela’s economy is nowhere near well off. 

Russia 

The global image of Russia oftentimes ties it with superpower status, but it’s very different economically. Immensely large in size and wealth, a great chunk of the country lives in poverty and with income disparity. Constraints to its economic development include sanctions, political isolation, and overdependence on oil and gas exports. Further, many parts of rural Russia are decades behind the urban centers where prosperity is mostly concentrated. 

Mexico 

With its lively culture, historic backdrop, and tourism bloom, Mexico often looks like a wealthy nation, but meager salaries, inadequate infrastructure, and crime hinder most Mexicans from improving their economic well-being. Free trade agreements like USMCA strengthen its economy, while the proper division of wealth is a question mark, and basic services are yet to be provided to several rural parts of the country. 

India 

It would constantly be said that India was an upcoming economic powerhouse, but the sheer size of the population got in the way. Of course, it has a raft of impressive tech hubs—including Bengaluru—and globally influential industries such as IT, yet most of its population lives under or below the poverty line. In many outlying rural communities, no effective health care exists, or adequate educational opportunities either. 

Egypt 

While Egypt has long been synonymous with ancient wonders and frenetic cities, such as Cairo, the same cannot be said of its current economic state. Burdened with an abundance of debt and import dependence, economic growth in Egypt is often on flimsy footing. Tourism supplies much-needed relief, yet it’s fickle to political and global conditions that place the economy in quicksand. 

Turkey 

Turkey is a bridge between Europe and Asia, but not economically stable. The country has been through a currency crisis, soaring inflation, and political tensions that have scared off investors in recent years. Unevenly distributed wealth keeps many Turks struggling to make ends meet despite the location and potential. 

Brazil 

Brazil is a country of nature and culture, ranging from the Amazon rainforest to carnivals. Great natural and cultural resources are part of its characteristics, yet income disparity, crime, and corruption remain the scourges of the country. Home to South America’s largest economy, Brazil’s social safety nets and infrastructure more often than not cannot keep up with a population of its size. 

Thailand

While it’s considered a tropical paradise, teeming with pristine beaches, and bustling markets, very real problems such as low wages, scarce jobs, and increasing household debt beset most Thai people outside of tourist hotspots. This is the contrast that happens when tourism income doesn’t always trickle down to the local people, making visitor experiences very different from everyday realities. 

Portugal

In recent years, Portugal has been sold as one of the hottest travel destinations, but beneath the popularity lies an economy of low wages and very little industrial growth. The country was badly hurt by the 2008 financial crisis and took years to recover.

Ukraine 

In the years before the war, Ukraine already had serious economic problems, with entrenched corruption and an antiquated industrial base. The conflict has only made things worse, destroying infrastructure and forcing millions to flee. With rich farmland and a tech talent pool, Ukraine’s economy will have a long road to recovery. 

Colombia 

Colombia evokes images of coffee, emeralds, and a beautiful landscape, but the performance of its economy tells a different story. Decades of conflict and narcotics cartel activity have left their scarring; though the nation has moved very far forward, inequality and rural poverty remain a significant drag. For many Colombians, access to education and health remains unequal, bottlenecks to economic growth. 

Indonesia

Indonesia is a country with a very vibrant culture and an increasing middle class, but outside the cities, most areas still lack basic infrastructure, and many people live in poverty. Its economy is extremely dependent on the export of natural resources, so it is susceptible to shocks in the global market. This leaves many citizens disconnected from the economic growth witnessed in urban hubs like Jakarta.

Disclaimer: This list is solely the author’s opinion based on research and publicly available information.