Qatar has been ranked as the world's wealthiest country in a new list compiled by US magazine Forbes, with the UAE placed sixth.
The Gulf emirate of 1.7 million people topped the list as the world’s richest country per capita thanks to a rebound in oil prices and its massive natural gas reserves.
Adjusted for purchasing power, Qatar booked an estimated gross domestic product per capita of more than $88,000 for 2010, Forbes said, compared with $47,500 for the UAE. Kuwait was placed 15th in the list.
Qatar, which will host the 2022 World Cup and is also in the running for the 2020 Olympic Games, has been a high-profile investor in recent times.
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, Forbes said.
In second place on its list was Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over $81,000.
In third place was Singapore, which thrives as a technology, manufacturing and finance hub with a GDP (PPP) per capita of nearly $56,700.
To rank the countries, Forbes said it looked at GDP per capita adjusted for purchasing power for 182 nations. It used International Monetary Fund data from 2010.
Norway and Brunei rounded out the top five positions in the list followed by the UAE, the US, Hong Kong, Switzerland and the Netherlands.
A trio of politically and economically fragile African nations were listed as the poorest countries - Burundi, Liberia and the Democratic Republic of Congo, where GDPs (PPP) per capita are $400, $386 and $312, respectively.
Revealed: Dubai’s newest design hub Concept-Me
The design studio, store, and café is set to open in April...
Revealed: Dubai’s highest picnic
“Pure Picnic” is located at the 35 floor of Hilton Hotel...
$1m Batman Tumbler Batmobile for sale in Dubai
Owner has plans to bring new Batman vs Superman batmobile...
World’s heaviest gold ring to go on display in the UAE
The 58.686 kg gold ring is studded with 5.17 kg of Swarovski...
Moroccan king endorses business jet event
MEBAA will display 25 aircrafts and 50 exhibitors
Revealed: The high stakes of executive jets
It’s been only 100 years since the first commercial flight...
UAE retailer creates record-breaking $2m diamond guitar
Guitar has over 400 carat diamonds set in 1.6kg of 18 carat...