KUWAIT IS SECOND IN ARAB WORLD IN TERMS OF WEALTH PER CAPITA, WHILE QATAR IS FIRST

  • 02/10/2022

Kuwait City: With an average personal wealth of $183,100 in the Arab world, Qatar has the highest per capita wealth. According to the report, Kuwait came in second place with a per capita income of $171,300, followed by the United Arab Emirates (UAE) in third place with $122,800, Bahrain in fourth place with $98,000, Saudi Arabia in fifth place with $84,400, Oman in sixth place, Jordan in seventh, Egypt in eighth, Tunisia in ninth, and Iraq in tenth place. 


In related news, the MoneyLink website reported that Kuwait is one of the richest nations in the Middle East due to its plentiful crude oil supply, and that Kuwait has strategically used its oil reserves to climb the list of the richest nations in the world. 

It was noted that although Kuwait is a small nation in terms of area, it has an open economy supported by oil reserves amounting to about 102 billion barrels, or 6% of the world's total reserves. Nearly 50% of the nation's gross domestic product (GDP) and 90% of government revenue are derived from oil. According to the website, Kuwait wants to increase oil production to four million barrels per day in order to increase its wealth.

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