According to a report on The Peninsula on 30 April 2024, Qatar is recognized as one of the world’s wealthiest nations, securing a spot in the top 10 richest countries based on Gross Domestic Product (GDP) per capita.

The report that assesses global wealth based on GDP per capita adjusted for Purchasing Power Parity (PPP) highlighted Qatar’s substantial economic achievements, positioning it among the richest countries in the world.

This ranking reflects the nation's high standard of living and economic stability.

Initially, Qatar ranked fourth as per a report issued by Global Finance magazine in January 2024.

According to the latest data from the International Monetary Fund (IMF), Forbes India and NDTV World updated their rankings in April 2024, placing it seventh.

The top 10 list was led by Luxembourg, with a staggering GDP per capita of $140,312, followed by Ireland with $117,988, Switzerland with $110,251, Norway with $102,465, and Singapore with $91,733.

Iceland holds the sixth position in the list with a GDP per capita of $87,875, followed by Qatar at seventh place with $84,906. The United States comes next with a GDP of $83,066, while Denmark holds the fourth position with $72,940. Macao SAR has the lowest GDP per capita among the countries in the list with a GDP of $70,135. This list reflects a diverse group of countries, ranging from large economies to smaller and dynamic nations.

Qatar's economic framework and policies have led to its inclusion in an elite group that fosters growth and sustainability.

The report provides valuable insights into the wealth distribution and economic strategies of the richest nations, offering a clear indicator of Qatar’s global economic stature and its ongoing efforts to enhance the life quality of its population.

Source: The Peninsula
Cover Image: Shutterstock

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Rikhia Basu

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