RICHEST COUNTRY IN THE WORLD
Any country that isrneconomically advanced and developed with large industrial sectors, servicernsectors, high levels of gross domestic product, gross national product, incomernper head, advanced technologies, infrastructure and general standard of livingrnin comparison to other nations is said to be richest country in the world. ThernIMF ranks the countries according to their GDP based on purchasing power parityrn(PPP) per capita. Among 200 nations many are richest who generates billions andrntrillions of revenue each year so let’s take a look at the richest countries ofrnthe world and what are their wealth and fortunes.
These are the five richestrncountries in the world with their net worth.
5. IRELAND: ($72.630)
4. BRUNEI: ($76,740)
3. SINGAPORE: ($ 90,530)
2. LUXEMBOURG: ($109,190)
1. QATAR: ($124,930)
As per the rankings for Richest CountryrnIn The World it’s sure that Qatar is the richest country in the world.
QATAR: $124,930
Qatar is the small MiddlernEastern state which borders the Saudi Arabia. Since the oil boom in 1970, Qatarrnattracted many male migrants for work from South Asia.It’s a home for 2.7 millionrnof residents and the fact is that around 88% of population is of foreign migrants.
Qatarisrnone of the world’slargest reserves for oil and natural gas its resourcesrnare its runningand developed economic wheels. It’s the main source for generating revenues, the rich statespendrnits income on infrastructural growth and spends on construction of ports, highwaysrnairways, hospitals, universities and tall skyscrapers.Thepopular companies suchrnas Qatar airways, Al- Jazeera newspaperand the Qatar investment authority ownsrnstakes in Volkswagen , Porsche and more.
Qatarrnwon the bid and will be hosting FIFA world cup, 2022 in November -December andrnit would be the first Middle Eastern country to do so but the country boomingrnwith advanced economy is facing criticism from human Rights group forrnallegations regarding abusive treatment of migrant workers involved in world cuprn2022 costruction.
Qatarrnis an absolute monarchy headed by Emir, who is the executive head of the staternand commander in chief of armed forces. Emir of the state believes that peoplernare the source of power, he has full control overall the offices andrnappointscouncil members and executive officials directly.rnAccording to the national constitution established in 2005Qatar is anrnindependent sovereign Arab state with a democratic political system.