Richest Nations in the Middle East

Middle East Richest-Arab-Countries

The economic climate structure of the Middle East nations are different in the sense that while some (like Saudi Arabia and UAE) depend heavily on the export of oil and oil-related products, others (like Israel and Turkey) have a highly diverse economic base.

Below are the top five richest countries in the Middle East as of 2014, ranked by their GDP per capita.

5) United Arab Emirates – GDP per capita: $29,176

UAE has a high-income economy with a sizeable annual trade surplus. Its most populous city, Dubai, is a business hub. One-third of the nation’s GDP comes from oil revenues. UAE has a relatively high human development index.

5 DUBAI-MARINA-United-Arab-Emirates

4) Saudi Arabia – GDP per capita: $31,309

Saudi Arabia’s command economy is petroleum-based. Around 90 percent of the nation’s export earnings come from oil industry.

4 Mecca-Royal-Hotel-Clock-Tower

3) Israel – GDP per capita: $35,658

Israel is an advanced nation. It joined the OECD in 2010. It has the second-largest number of startup companies in the world and the largest number of NASDAQ-listed companies outside North America.

The Pinnacle List
2) Kuwait – GDP per capita: $58,080

Kuwait has a petroleum-based economy. Petroleum and fertilizers are its main exports. Around 95 percent of the country’s export earnings come from petroleum products.

2 Kuwait-City-GDP

1) Qatar – GDP per capita: $96,993

Qatar is the richest country in the Middle East and the world. Approximately around 14 percent of households in Qatar are dollar millionaires. If you are in Qatar, you need not pay income tax. The economic growth of the nation has been almost exclusively based on its petroleum and natural gas industries.

 

1 Qatar-GDP

 

Categories: BUSINESS

Leave a Reply