Kuwait City: Kuwait has been ranked 5th richest in theGulf and Arab region and 32nd worldwide by its GDP per capita comparingpurchasing power parity(USD 41,621) by the Global Finance magazine.
Among its regional peers, Qatar ranked 1stin the region and 4th worldwide, followed by UAE at 11th position globally,succeeded by Bahrain and Saudi Arabia. The magazine remarked that some verysmall and very rich countries, such as Luxembourg, Singapore, and Hong Kong,owed their high global rankings due to advances financial systems, and anenvironment to attract investments and skilled professionals. While countrieslike Qatar and Brunei have large natural resource bases that helped them torise higher ranking.
Globally, Luxembourg became the richestcountry, followed by Singapore, Ireland, Qatar, and Switzerland. Norway wasranked sixth succeeded by America, Brunei, Hong Kong, and Denmark as tenthrichest.
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