Egypt's Nassef Sawiris is still the richest Arab in the world, with a net worth of $7.4 billion— his wealth dropped $300 million less compared to 2022. His most valuable asset is a nearly 6% stake in sportswear maker adidas.
Yemen has long been one of the poorest countries in the Middle East and North Africa (MENA) and is now one of the world's worst humanitarian crises. The fighting raging since early 2015 has devastated its economy, leading to severe food insecurity, and destroying critical infrastructure.
Qatar is currently the wealthiest country in the Arab World - Fast Company Middle East | The future of tech, business and innovation. Tech. Work Life.
Skyline of Doha downtown district. Qatar, Middle East – Qatar is currently the wealthiest country in the Arab World (based on GDP per capita).
Qatar is currently the wealthiest country in the Arab World.
Libya, Algeria, Tunisia, Syria and Egypt were ranked as the cheapest Arab countries to live in. On the other hand, Kuwait is third highest in the Gulf and Arab countries in terms of rent increases, after Qatar and the UAE.
The UAE is the third-richest country in the world, below Luxembourg at number two and Qatar at number one, with a GDP per capita of $57,744. The bulk of its money comes from the production of goods and provision of services related to petroleum, petrochemicals, aluminium and cement.
Abu Dhabi is the capital and the second largest city in the United Arab Emirates. Abu Dhabi is the wealthiest emirate of the UAE in terms of Gross Domestic Product (GDP) and per capita income.
Today, Qatar has the world's third-largest proven natural gas reserve, after Russia and Iran, and is the second-largest exporter of natural gas. Oil and natural gas account for more than 70% of total government revenue, more than 60% of gross domestic product, and roughly 85% of export earnings.
The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and the Middle East. Saudi Arabia is part of the G20 group of countries. With a total worth of $34.4 trillion, Saudi Arabia has the second most valuable natural resources in the world.
The list was topped by the Sawiris family from Egypt, with a fortune of $11.2 billion, according to real-time statistics by Forbes on December 29, 2022, despite losing $800 million since Forbes launched the 2022 billionaires list last April based on the closings of March 11, 2022.
Generally, the legal age for drinking alcohol is 18 in Abu Dhabi, but a Ministry of Tourism by-law prevents hotels from serving alcohol to those under the age of 21. In Dubai and all other emirates besides Sharjah, the drinking age is 21. Drinking alcohol in Sharjah is illegal.
The capital city is Abu Dhabi, located in the largest and wealthiest of the seven emirates.
Dubai is much bigger and has more entertainment options, nightlife, family activities, luxury hotels, and plenty of budget options. In contrast, Abu Dhabi is slightly more expensive. Despite being more expensive, Abu Dhabi is a more peaceful location. And Abu Dhabi has better beaches than Dubai.
So, despite being part of the UAE, not all its residents are rich. UAE is among the 10 wealthiest countries globally, and Dubai follows suit. However, a huge percentage of its citizens, 20%, live in poverty regardless.
To live comfortably in Dubai, you should expect a salary of at least 10,000 to 15,000 AED. This should allow you to cover your rent and bills and have enough disposable income to enjoy Dubai to the fullest.
Currently, the richest country in the world in terms of GDP per capita is Luxembourg, with a GDP per capita of $135,700. Other wealthy countries include Bermuda, Ireland, and Switzerland, all with GDP per capita above $80,000.
1. Saudi Arabia. Saudi Arabia is the largest country in the Middle East and is home to a growing expat community. The country's economy is driven by its vast oil reserves, but it is also investing heavily in diversifying it and creating more job opportunities for its citizens and expats.
Dubai remains the most expensive city in the Middle East in terms of cost of living for high-net-worth individuals (HNWIs), securing the 14th spot in the world in Julius Baer's Global Wealth and Lifestyle Report 2022.
Qatar: 78 years old
In the 1960s, the average life expectancy in the country was 61 years old.