Qatar has been ranked as the world's richest country per capita
in a new list compiled by US-based Forbes magazine. Blessed with the
third-largest natural gas reserves in the world, the Arab Gulf emirate
of 1.7 million people is benefitting from a rebound in oil prices.
Adjusted for purchasing power (PPP), Qatar has an estimated gross
domestic product per capita of $88,222.
Luxembourg (Ranked No.2) In second place on the list is
Luxembourg, with a per capita GDP on a purchasing-power parity (PPP)
basis of $81,466.
Technology, manufacturing and finance hub Singapore is ranked
third on the list. The country’s GDP (PPP) per capita is $56,694
(estimated from 2009).
To rank the world’s wealthiest countries, Forbes looked at GDP
per capita adjusted for purchasing power for 182 nations. At No.4, with a
GDP (PPP) per capita of $51,959 (estimated from 2009) is Norway.
Oil-rich Brunei (ranked at No.5) has a GDP (PPP) per capita of
$48,333. Forbes used International Monetary Fund data from 2010, the
most recent available, while GDP figures for some countries were
projections.
UAE oil reserves are ranked as the world's sixth-largest[ and
it possesses one of the most developed economies in West Asia. The
country’s GDP (PPP) per capita is $47,439 (estimated from 2009).
With a GDP (PPP) per capita of $46,860, US is ranked at No.7 on
the Forbes list. According to Forbes, the PPP-adjusted GDP—preferred by
economists when making international comparisons—takes into account the
relative cost of living and inflation rates, rather than just exchange
rates, which may distort real differences in worth.
Hong Kong is renowned for its expansive skyline and deep
natural harbour. As one of the world's leading international financial
centres, Hong Kong has a major capitalist service economy characterised
by low taxation and free trade, and the currency, Hong Kong dollar, is
the eighth most traded currency in the world. Hong Kong has a GDP (PPP)
per capita of $45,944.
Switzerland is one of the richest countries in the world by per
capita gross domestic product [GDP (PPP) per capita: $41,950]. It also
has one of the world's largest account balances as a percentage of GDP.
