The largest continent of the world is Asia. This continent is not just huge but is also the most populated continent, with around 4.4 billion people present on mother earth. Asia is rich in diversity. There are different kinds of climates and different kinds of cultures present in Asian continent.
Different countries of the continent have different speciality in business and trade. The economy and GDP of the country is directly proportional to the trade carried out by the people of that country. The list given below will enhance your knowledge about the loaded top 10 richest Asian countries as of 2020.
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Bahrain is also known as the Kingdom of Bahrain. The beautiful and splendid country is located on the west of the great Persian Gulf. The country started its first oil economy in the late 20th century. The country has been investing a lot in the banking and tourism sector. The economy of the country largely depends on the tourism. The literal meaning of Bahrain according to Arabic is dual sea. The GDP of the country is estimated to be around $34584. The GDP is directly proportional to the banking, tourism and its income from oil.
Israel is also known as the State of Israel. Israel is a Middle East country and is located on the south east shore of the Mediterranean Sea.The land of Israel has its borders connected with Lebanon, Syria, Jordan, Palestinian territory and the Gaza Strip. The economy of the country depends largely on the technology center Tel Aviv. The economy has faced an increase in economy due to the tourism. Israel is known for the growth and enhancement in technology. The GDP of the country is around $34770.
Japan is a self-governing country that is located in the Pacific Ocean. Japan is surrounded by Asian mainland, stretches of the Okhotsk Sea, East China Sea and Taiwan. Japan’s economy largely depends upon the industrialisation, import and export, manufacturing of goods and many others. The country is known to produce great and amazing products. Japan is a country that has reached a really far state because of the enhancement in technology. Japan is known to provide you with what you need. The economy of the country is around $36899.
Kuwait is also known as the state of Kuwait. The country is present in the Western Asia and is located at the tip of Persian Gulf. The country is surrounded by Saudi Arabia and Iraq. The oil reserves were discovered in Kuwait in the year 1938. After this huge discovery, the country experienced a lot of modernisation till the year 1982. The country underwent a period of geopolitical instability and the country’s economy faced a lot of downfall because of the stock market crash. The economy of the country depends proportionally to the number of oil reserves it has. Kuwait’s GDP is around $39706.
Taiwan is also known as the Republic of China. Taiwan is a democratic and a sovereign state that is surrounded by China, Japan and Philippines. The country is prominent for not being a member of the United Nations and still is among the richest countries of Asia. Taiwan’s economy has upgraded a lot because of the enhancement of industrialisation. The country has made its own place in the world. The GDP of the country is $39767.
Brunei is also known as the Nation of Brunei or the Abode of Peace. Brunei is located on the north part of Borneo. Brunei is a democratic and a self-governing state. The people of the country are known to possess great purchasing power. The country has evolved a lot and is among the very few countries that have 0% public debt. The economy of the country is directly proportional to the natural gas products and the petroleum products. The GDP of the country has increased a lot and the current GDP is around $55111.
4. Hong Kong
Hong Kong is also known as the Hong Kong Special Administrative Region of the People’s Republic of China. The country is surrounded by Pearl River delta, Macau and Guangdong. The country is known to possess the finest financial centers of the world. Hong Kong’s economy depends upon the liberal trade policies of the country. The place is considered as the most luxurious country in the world and in Asia. People from all places come here to relax in their vacations. The GDP of the country is around $55383.
Macau also known as the Hong Kong Special Administrative Region of the People’s Republic of China is among the most visited places of Asia. The country is surrounded by Zhuhai and Pearl River Delta. Macau is a place where the population usually consists of the professionals and entrepreneurs. Macau’s economy is directly proportional to the business meetings and the tourism. The place is known for its business friendly ambience. The GDP of the country is $59451.
Singapore is also known as the Republic of Singapore or the Lion city or the Garden city. The country is surrounded by the Peninsula Malaysia and Indonesia’s Riau Island. The country is known among the most beautiful places around the world. The country is known for the hi-tech and business friendly environment. Singapore’s economy is directly proportional to the tourism of the country. The people of the country are paid really well. The GDP of the country is around $64584.
Qatar is also known as the state of Qatar. Qatar is only surrounded by Saudi Arabia. Qatar is considered among the richest countries of the world. Almost every individual of Qatar is a millionaire and is indulged in more than one business. The country comprises of more than 93% of migrants. The economy of the country is directly proportional to the natural gas and oil reserved. The GDP of the country is around $98814.
All the countries mentioned above are known to enhance and upgrade their economy. These countries are well equipped with the skills of augmentation of their economy by using the things that they are best in. These countries have taken their economy to new levels. They provide an active and important place to tourism. The countries are known to provide their people with amazing and high salaries. The list given above will give you an overview about the richest Asian countries of the world.