Qatar, Luxembourg and Singapore were ranked the top three in the research published this week which ranked countries by their wealth according to their gross domestic product.
The Gulf state, which will host the FIFA World Cup in 2022, came top of the list with a GDP in 2013 of $105,091 per person while the UAE also featured in the world’s top 10 with a GDP per capita of $49,883.
The data provided by the International Monetary Fund and compiled by the Global Finance Magazine, also took into account purchasing power parity, which analyses living costs and inflation rates.
Kuwait was ranked the third richest in the Gulf (and 19th globally) with a GDP per person of $39,861, followed by Saudi Arabia in 28th place ($32,469) Oman in 33rd ($29,924) and Bahrain in 34th position with a GDP per capita of $29,832.
Both the US and Australia made the list’s top ten but Britain was named the 23rd richest country.
Last month, Qatar cut its 2015 economic growth forecast to 7.3 percent from 7.7 percent and now expects its budget to swing to a deficit next year, as opposed to a surplus projected six months ago.
The Ministry of Development Planning and Statistics forecast still implies a pick-up in real gross domestic product growth from 6.1 percent in 2014.
Qatar is set to welcome 200,000 workers from Pakistan in the next four years as it constructs the infrastructure to support FIFA World Cup 2022, it has been reported.
Local daily Pakistan Today quoted Pakistan’s Provincial Minister Labour and Human Resource, Raja Ashfaq Sarwar, as saying that two committees have been constituted to identify the professional skills demanded by Qatar and also Dubai.