Want to discover the richest country in the world?
Then you are in the right place.
In this piece, we will go through the profile of the richest nation in the world.
How they make their money and the value of their Gross Domestic Product.
Without taking time, let us go straight to the point.
Which is the richest country in the world?
So, which is the richest country in the world today?
Actually, the richest country in the world today is no other country than the famous “Qatar”.
They are the richest country in the world.
In fact, Qatar is a hub of riches.
With a GDP per capita clocked at over $130,000, the people of Qatar really enjoy some wealth.
Now, let us know more about this wonderful nation called Qatar.
Qatar happens to be the richest country in the world today.
Before going further, let us go through an overview of the profile of Qatar.
- Country Name: Qatar
- Country Capital: Doha
- Official Language(s) : Arabic
- Other Language(s) : English
- Religion: Islam, Christianity, Hinduism, and other religions.
- Independence: September 1971
- Population: 2.7 Million People
- Currency: Riyal (QAR)
- Driving Side: Right
- Time Zone: UTC+3 (AST)
- GDP: $357.338 Billion
- Legislature: Consultative Assembly
- Prime Minister: Khalid Bin Khalifa
Qatar is a small country that is located in the Western part of Asia.
They occupy the Qatar Peninsula on the northeastern coast of the Arabian Peninsula.
Qatar borders Saudi Arabia on the south, and the rest of it is bordered by the Persian Gulf.
Though close, Qatar is separated from Bahrain by a little part of the Persian Gulf.
Back in 2017, Qatar had a total population of 2.6 million people, with a 2.3million being actual citizens of Qatar.
The official language of Qatar is Arabic, and this is what almost everyone uses to communicate in the nation.
As a very rich country, they have one of the highest GDP (PPP) per capita in the world today.
They also have one of the highest GNI per capitas.
From research by the United Nations (UN), Qatar is said to be a country with a very high human development rate.
They even have the third highest HDI in the Arab World.
The only nations above them in this sector is the UAE (United Arab Emirates), and Saudi Arabia.
They are a World Bank High-income nation, and they are fully supported by their natural gas and oil reserves.
Qatar is one of the nations of the world with the largest oil reserves.
This streams in billions of dollars for this nation.
As we speak, 87% of the exports of Qatar is actually petroleum.
They have one of the strongest Economies, and the employment rate in the country is very high.
It is actually the highest in the world.
This small nation is predicted to grow stronger and stronger over the coming years.
History of Qatar
Qatar actually became a habitat for humans over 5,000 Years ago.
It was said that some tools and settlements unearthed from the Peninsula are of the Stone Ages.
Some of the artifacts found were actually those of the period between 6500-3800BC.
Materials dating back to two millennium BC that was found in the Al Khor Islands confirm that there were trade connections between the then inhabitants of Qatar and the Kassites of modern-day Bahrain.
Amongst the materials found were about 3million crushed snail shells, Kassites Potsherds, and more.
Back in 224 AD, the Sasanian Empire took control of the territories of the Persian Gulf.
During this period, Qatar played a very important role in commercial activities.
It was under the reign of the Sasanid that most people who lived in Eastern Arabia were introduced to Christianity.
More Monasteries were made and further settlements were founded in this era.
Qatar consisted of a section that was known as ‘Bell Qatraye’.
This was during the latter part of the Christian time.
This region was not actually limited to Qatar.
It included other places like Bahrain, Al-Khatt, Tarout Island, and Al-Hasa.
Over the years, Qatar has continued to survive different eras and they have continued to grow.
A lot of people think that Qatar is a new nation since it is small, but it is not.
They have been there right from the early days.
Qatar is a small country with several large neighbours.
They have good international relationships with different nations of the world.
From the year 1760-1971, they sought formal protection from higher powers like the British, Al-Khalifas, Bahrain, and Saudi Arabia.
They have very good foreign relations with major countries of the world like China and a few others.
The upcoming World Cup competition has been scheduled to be held in Qatar.
This is the biggest Sport competition that exists on earth.
Following this announcement by FIFA, Qatar is currently undergoing some strong infrastructural projects.
The country is already building a few mind-blowing stadiums, and making preparations to host this historical event.
This competition is scheduled for 2022.
During this period, all football stars and most fans will be in Qatar, to explore this wonderful nation.
Qatar’s Gross Domestic Product
What is Qatar’s Net Worth?
A lot of people type this online.
Actually, net worths are for individuals.
Countries do not have net worths.
Rather, they have what we call GDPs.
This is short for Gross Domestic Product.
So what is the GDP of Qatar?
As of 2020, the GDP of Qatar is said to be about $357.338 Billion dollars.
This is a huge GDP for such a small nation.
They even have a GNI per capita of over $100,000, making them the richest country in the world.
I believe that from this article, you have seen a lot of new things about Qatar.
This is a very wonderful nation, and they have a lot to offer, as they are deeply rooted in culture.
Other Richest Countries
Find below a list of other richest countries in the world today.
- GDP: $65.3 Billion
- Current GNI Per Capita: $114,363
Macao Sarz is not actually a full country. It is special administrative region of China.
By so doing, they are are not fully autonomous.
China actually handles its defense department and its foreign relations.
They rack in wealth from their casino industry.
Macao is a world tourist centre for gaming.
Despite being a small nation of less than a million people, they have the second-largest GNI per capita in the world.
- GDP: $70.89 Billion
- GNI Per Capita: $116,639
Luxembourg is a country that is deeply rooted in culture.
They host several cultural festivals and this portrays their culture to the world.
Although they are a small European nation with less than a million people, they provide a lot of amenities to citizens.
Citizens of Luxembourg never worry about shelter, education, and health care.
All those are taken care of by the government.
They enjoy the highest living standard in all of Europe.
- GDP: $364.2 Billion
- GNI Per Capita: $64,581
We all know that Singapore is a hub of world billionaires.
Two of the most prominent billionaires in Singapore are Zhang Young and Eduardo Saverin.
The former has a net worth of $16 Billion, while the later is the co-founder of Facebook, and also has a net worth of $14 Billion.
Unlike when they were just a new nation with illiterates everywhere, Singapore is now a hub full of educated people.
They are the number one centre for business in the world today.
They have business-friendly policies, and this attracts so many people and companies far and wide.
Today, this nation has racked up so much wealth from the business sector, and they are said to be one of the nations with the highest GNI per capita.
- GDP: $382.5 Billion
- GNI Per Capita: $80,504
Though being a small nation, Ireland is a small country with one of the strongest Economies in all of Europe.
Over the years, they have continued to climb up the scale as a very promising nation.
They are currently the fastest growing nation in Europe.
They have a population of fewer than 5 million people, and they have one of the highest GNI per capita.
Though being a very rich nation, Ireland is a hub for taxes.
This gives companies more earning potential when compared to individuals.
Although they are such a wonderful and rich nation, their per capita disposable income is way less than that of their member countries.
- GDP: $434.2 Billion
- GNI Per Capita:$81,697
Though being a small nation, Norway has a very large offshore oil reserve.
Since these reserves were discovered back in the late 60s, Norway has continued to grow richer and richer.
They have benefited greatly from the increase in the price of oil through the years.
They have a very fast-rising economy, and they have a sovereign wealth fund of a whopping $1.2 trillion dollars.
The GDP of this nation (Norway) reflects the true living standard of the citizens of Norway.
United Arabs Emirates
- GDP: $414.2 Billion
- GNI Per Capita: $43,004
In the early days, UAE was a center for fishing, Pearl trading, and Agriculture.
That was their only source of income.
As time went on, Oil was later discovered in the United Arab Emirates.
This shot them high up and made them one of the richest nations on earth.
They enjoy so much wealth from the oil and gas industry.
They use their wealth to set up world-class infrastructural works, several businesses, and they provide social amenities for citizens.
Only 20% of the habitats of this country are actually citizens.
They have a very diverse economy which grows at a fast pace.
Today, the United Arab Emirates is a centre of attraction.
So many tourists visit this nation, and they keep growing by the day.
Final Thoughts on The Richest Country In The World?
I hope you learnt a lot from this article.
Posts like this often adds up to the archives of our general knowledge.
From this post, I believe you now know more about the richest country in the world.
Qatar is a world center of attraction, and they house several oil billionaires today.
Feel free to drop your comments to create lively and interactive sessions in the comment box below.