According to the US-based Forbes magazine, Kuwait is ranked as the no. 15 richest country in the world. To rank the world's wealthiest countries, Forbes looked at GDP per capita adjusted for purchasing power for 182 nations.
Qatar ranked as the world's richest country per capita due to a rebound in oil prices and its massive natural gas reserves, according to Forbes.
Qatar has the third-largest reserves of natural gas in the world, and it has invested heavily in infrastructure to liquefy and export it, as well as to diversify its economy, without overreaching as much as nearby Dubai. Qatar has lured multinational financial firms to the country, as well as satellite campuses of US universities. The government is pouring money into infrastructure, including a deepwater seaport, an airport and a railway network, all with an eye to making the country a better host for businesses and the 2022 World Cup.
In second place on the list is Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over $81,000. The country of half a million people became a financial hub in the latter half of the 20th century, in part thanks to strict banking secrecy laws that earned it the reputation of a tax haven. It's followed at No. 3 by the city-state of Singapore, which thrives as a technology, manufacturing and finance hub with a GDP (PPP) per capita of nearly $56,700.
Like Qatar, many of the countries in the top 15 spots rely on natural resources. In Norway, which ranks fourth, petroleum accounts for nearly half of exports and is the main contributor to its PPP-adjusted GDP per capita of nearly $52,000; the country is also one of the world's largest gas exporters. Brunei, meanwhile, located on the island of Borneo, reaps the benefits of extensive petroleum and natural gas fields and comes in at No. 5 with a PPP-adjusted per capita GDP of just over $48,000. And the United Arab Emirates looks to its oil and gas for about 25% of its GDP, which is nearly $47,500 per capita (PPP).
Other well-heeled countries benefiting at least in part from natural resources are Australia, ranking No. 11; Canada, at No. 14; and Kuwait, at No. 15, which relies on its crude oil reserves for at least half of GDP, and almost all of its export revenues and government income.
Forbes used International Monetary Fund(IMF) data from 2010, the most recent available (GDP figures for some countries were projections).
Qatar ranked as the world's richest country per capita due to a rebound in oil prices and its massive natural gas reserves, according to Forbes.
Qatar has the third-largest reserves of natural gas in the world, and it has invested heavily in infrastructure to liquefy and export it, as well as to diversify its economy, without overreaching as much as nearby Dubai. Qatar has lured multinational financial firms to the country, as well as satellite campuses of US universities. The government is pouring money into infrastructure, including a deepwater seaport, an airport and a railway network, all with an eye to making the country a better host for businesses and the 2022 World Cup.
In second place on the list is Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over $81,000. The country of half a million people became a financial hub in the latter half of the 20th century, in part thanks to strict banking secrecy laws that earned it the reputation of a tax haven. It's followed at No. 3 by the city-state of Singapore, which thrives as a technology, manufacturing and finance hub with a GDP (PPP) per capita of nearly $56,700.
Like Qatar, many of the countries in the top 15 spots rely on natural resources. In Norway, which ranks fourth, petroleum accounts for nearly half of exports and is the main contributor to its PPP-adjusted GDP per capita of nearly $52,000; the country is also one of the world's largest gas exporters. Brunei, meanwhile, located on the island of Borneo, reaps the benefits of extensive petroleum and natural gas fields and comes in at No. 5 with a PPP-adjusted per capita GDP of just over $48,000. And the United Arab Emirates looks to its oil and gas for about 25% of its GDP, which is nearly $47,500 per capita (PPP).
Other well-heeled countries benefiting at least in part from natural resources are Australia, ranking No. 11; Canada, at No. 14; and Kuwait, at No. 15, which relies on its crude oil reserves for at least half of GDP, and almost all of its export revenues and government income.
Forbes used International Monetary Fund(IMF) data from 2010, the most recent available (GDP figures for some countries were projections).
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