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These estimates are made every year by international financial organizations such as the International Monetary Fund and the World Bank. While the GDP (PPP) is a good indicator of a country's wealth, calculations based on nominal GDP often tend to overlook the cost of living in each country. This list of the top ten richest countries in the world is based on the International Monetary Fund's World Economic Outlook Database October 2015, which uses the GDP per capita of each country, adjusted for cost of living and inflation rates of different countries. Smaller nations such as Qatar and Luxembourg therefore, head the list.