On 3 May 2024, Global Finance, a finance magazine, listed Qatar as the fifth richest country in the world.
According to Global Finance,
Despite the recent recovery, oil prices have on average declined since the mid-2010s. In 2014, the per-capita GDP of a Qatari citizen was over $143,222; one year later, it plunged significantly and remained below the $100,000 mark for the next five years. However, that figure has gradually grown, increasing by about $10,000 each year.
One of the world’s wealthiest nations thanks to its vast deposits of natural gas and oil, Qatar boasts one of the highest per capita incomes globally.
The report said that despite the COVID-19 pandemic, falling energy prices, and disruption in global trade caused by the war in Ukraine and the conflict in Gaza, until now, the economy has proven to be sufficiently resilient. It is projected to grow by around 2% in 2024 and 2025.
| Rank | Country/Territory | GDP-PPP per capita ($) |
| 1 | Luxembourg | 143,743 |
| 2 | Macao SAR | 134,141 |
| 3 | Ireland | 133,895 |
| 4 | Singapore | 133,737 |
| 5 | Qatar | 112,283 |
| 6 | United Arab Emirates | 96,846 |
| 7 | Switzerland | 91,932 |
| 8 | San Marino | 86,989 |
| 9 | United States | 85,373 |
| 10 | Norway | 82,832 |
The report also said that "Over the years, Qatar has also cemented its status as a cornerstone of stability and a champion of diplomacy in a volatile region."
Source: Global Finance
Cover image credit: Shutterstock
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