Qatar is richest nation on earth: US magazine

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Qatar is richest nation on earth: US magazine

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According to Global Finance, Qatar is the richest country with a GDP per capita $90,149.

20 June,2011 10:01 am

According to a 2010 list released by Global Finance, a leading US business magazine, Qatar became the wealthiest nation on earth after it steadily pushed up its way on the global rich list, aided by its massive gas wealth.“The richest country is occupied by Qatar with a GDP per capita of $90,149 in 2010,” the magazine said.The Global Finance covered 182 countries in its wealth classification, which is based on comparing the living standards of the overall population of one country by using gross domestic product (GDP) and per capita based on party or purchasing power balance internationally.It said that the indicators of the relative cost of living, inflation, and exchange rate of a country were taken into consideration in preparation of the list.The small European state of Luxembourg was the second richest while Kuwait and the UAE followed Qatar as the wealthiest countries in the Arab region.