#3. The United Arab Emirates
This Middle Eastern federation of emirates has a land area of about 32,278 sq. miles, which means it could easily fit within New York State (54,556 sq. miles). With a population of 9.2 million people, it’s a bit more populated than the state of New Jersey.
A third of the $57,744 per capita economy comes from oil revenues, while the service sector and telecommunications also contribute significantly. The UAE is the second largest economy in the Arab world after Saudi Arabia.
#2. Luxembourg
A symbol of wealth, number two on the list has a per capita GDP of $89,862, which is nine times the world average. The backbone of this strong economy is its vibrant financial sector, prudent fiscal policies, and dynamic industrial and steel sectors. Banking in Luxembourg is the largest sector of its economy with an asset base of over $1.24 trillion alone.
#1. Qatar
Qatar ranks number one on the list of the top 10 richest nations because of its high GDP per capita of $91,379, which is just $8,621 shy of $100,000. Qatar has a well developed oil exploration industry where the petroleum industry accounts for 70% of its government revenue, 60% of its GDP and 85% of its export earnings. Because of its wealth and economic success, it has been chosen as the host of the 2022 FIFA World Cup, the first Arab nation to ever hold this role.
