(MENAFN- The Peninsula) Mahmoud Elmazaty |The Peninsula Online
Doha: Qatar has been 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 a significant recognition of the nation's economic stability and the high standard of living enjoyed by its residents.
Initially, Qatar ranked fourth as per a report issued by Global Finance magazine in January 2024.
However, it was placed seventh in more recent updates shared by Forbes India and NDTV World in April 2024, based on the International Monetary Fund (IMF) data.
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 ranked sixth with $87,875 followed by Qatar seventh with $84,906, then the United States with $83,066, Denmark with $72,940, and Macao SAR at the bottom of the list with a GDP per capita of $70,135, reflecting a diverse group of countries ranging from large economies to smaller, dynamic nations.
Qatar's inclusion in this elite group underscores its robust economic framework and the successful implementation of policies aimed at fostering 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.
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