Qatar named world's richest country in new ratings

Qatar tops Forbes rich-list ratings, with UAE sixth and Kuwait 15th

Doha, Qatar's capital.
Doha, Qatar's capital.

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Qatar has been ranked as the world's wealthiest country in a new list compiled by US magazine Forbes, with the UAE placed sixth.

The Gulf emirate of 1.7 million people topped the list as the world’s richest country per capita thanks to a rebound in oil prices and its massive natural gas reserves.

Adjusted for purchasing power, Qatar booked an estimated gross domestic product per capita of more than $88,000 for 2010, Forbes said, compared with $47,500 for the UAE. Kuwait was placed 15th in the list.

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Qatar, which will host the 2022 World Cup and is also in the running for the 2020 Olympic Games, has been a high-profile investor in recent times.

The government is pouring billions into infrastructure, including a deepwater seaport, an airport and a railway and metro network, all with an eye to making the country a better host for businesses and the 2022 World Cup, Forbes said.

In second place on its list was Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over $81,000.

In third place was Singapore, which thrives as a technology, manufacturing and finance hub with a GDP (PPP) per capita of nearly $56,700.

To rank the countries, Forbes said it looked at GDP per capita adjusted for purchasing power for 182 nations. It used International Monetary Fund data from 2010.

Norway and Brunei rounded out the top five positions in the list followed by the UAE, the US, Hong Kong, Switzerland and the Netherlands.

A trio of politically and economically fragile African nations were listed as the poorest countries - Burundi, Liberia and the Democratic Republic of Congo, where GDPs (PPP) per capita are $400, $386 and $312, respectively.

  1. Qatar GDP (PPP) per capita: $88,222 (estimated from 2009)
  2. Luxembourg GDP (PPP) per capita: $81,466
  3. Singapore GDP (PPP) per capita: $56,694 (estimated from 2009)
  4. Norway GDP (PPP) per capita: $51,959 (estimated from 2009)
  5. Brunei GDP (PPP) per capita: $48,333
  6. UAE GDP (PPP) per capita: $47,439 (estimated from 2009)
  7. USA GDP (PPP) per capita: $46,860
  8. Hong Kong GDP (PPP) per capita: $45,944
  9. Switzerland GDP (PPP) per capita: $41,950
  10. Netherlands GDP (PPP) per capita: $40,973
  11. Australia GDP (PPP) per capita: $39,764
  12. Austria GDP (PPP) per capita: $39,761
  13. Ireland GDP (PPP) per capita: $39,492
  14. Canada GDP (PPP) per capita: $39,171
  15. Kuwait GDP (PPP) per capita: $38,775 (estimated from 2009)

 

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