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.
Paris Hilton looking for a home in Dubai
American heiress is said to be considering buying a second...
First Etihad butlers start Savoy Academy training
New butlers are scheduled to start duties on airline's inaugural...
Crystal giant Swarovski launches 'Sparkle Towers' Dubai project
Austrian firm has partnered with property developer Tebyan...
New $234m resort on Saadiyat Island by 2017
Resort in Abu Dhabi to feature 295-room hotel, spa and luxury...
Exclusive: Donald Trump wants to build a luxury hotel in Dubai
The US billionaire says it he has “discussed this with a...
Arab woman pays nearly $24m for blue diamond
Nayla Hayek, CEO of jewellery firm Harry Winston, buys the...
Gold iPads for kids at Dubai's Burj Al Arab
Luxury hotel's expanded offering for children also includes...