The Arab region occupies an area from Atlantic ocean (west) to Arabian sea (east) and Mediterranean sea (north) to Indian ocean (south), occupying 22 beautiful, rich countries and comprising about 422 million of the world’s population. These countries are a platform of plenteous oil, petrol, and natural gas through which they have grown to be world’s richest area. This area comprising Arab countries including the world’s most top pilgrimage Mecca is known as Gulf area. Qatar and Kuwait of Arab Peninsula are richest countries in the world with the highest value of their currency.The other source of income in these countries is a tourist attraction because of tradition sacred monuments, beautiful dessert, and beautiful natural vegetation.
Here, have a look below the listed richest Arab countries:
10. Algeria: net GDP $7500 per capita income
The country is the largest producer and manufacturer among all countries of Africa. It has a vast quantity of natural gas and minerals. The main minerals found in Algeria are iron, copper, lead, and mercury. Algeria is the largest country in Africa and 10th largest in the world. It has 16th largest reserve in the world and second largest in Africa.
Also, the export of petroleum from Algeria is the main source of income. It is officially known as people’s democratic republic of Algeria in the world.
9. Tunisia: net GDP $9900 per capita income
Officially known as the ‘Republic of Tunisia’, here, the main source of income is mining, manufacturing, and tourism. Tunisia is a very beautiful country surrounding borders with mediterranean sea and the biggest desert The Sahara. Tunisia has the famous mountain range ‘the Atlas mountains’ to the east. The country is one of the prominent countries of the Africa and has both fertile as well as coastline areas. Mining and manufacturing comprise of the country’s economy. The most prominent economy digger of Tunisia is tourism. The monument and buildings here are the largest tourist attraction over years.
8. Lebanon: net GDP $10700 per capita income
Also known officially as the ‘Lebanese Republic’ worldwide is the 8th richest country of Arab. Lebanon is a sovereign state sharing its boundary with Syria and Israel. From the entire gulf area, Lebanon is the only country which is advanced, modern and democratic country. The main source of income in this country is commerce and services. Though the country is not very big, the culture and tradition here are very developed which make Lebanon as the influential place to the world.
7. Libya: net GDP $11497per capita income
Libya is the 4th largest country in Africa and 7th largest country in the Arab area. Libya also has the 10th largest oil reserves in the world constituting the main source of income in this country. 97 percent of oil is exported, constituting very high per capita income.Education and infrastructure of Libya defined it as the upper economy. Apart from petroleum the country’s large variety of natural gas, gypsum, and sweet crude
6. Oman: net GDP $21700per capita income
Oman, also known as ‘Sultanate of Oman’ shares its border with United Arab Emirates, Yemen, Saudi Arabia, Iran, Pakistan. At the end of 16th century and starting of the 17th century, Oman Sultanate was one of most powerful as well as resourceful country of Gulf part. The main source of income of this high standard country is through its magnificent oil reserves. Oman has ranked as the most improved country in terms of infrastructure and development.
The significant part of the Oman economy comprises of tourism. Apart tourism it has the very large platform for exporting fish, dates and other prominent goods. Oman has become the high-income-economy in the world according to the world bank report
5. Saudi Arabia: net GDP $24900per capita income
Also known as ‘Kingdom of Saudi Arabia’ is the 5th richest Arab country constituting vast part of West Asia. In 1938, the petroleum reserves discovered in Saudi Arabia which have raised the economy tremendously from then. This country became the world’s second largest producer and exporter of oil in the world. Saudi Arabia is located in the ideal area from where the extraction of most resources in the world. Tourism is another most prominent sector which is another main area for raising the economy of the country.
Mecca and Madina are the most important pilgrimage for the Muslim people and every year millions of Muslims arrive here and performs their rituals which have raised the economy of Saudi Arabia vigorously.
4. Bahrain: net GDP $27900 (per capita income)
Bahrain is the 4th largest country of Arab peninsula. Also known as the ‘Kingdom of Bahrain’, it is located on the west side of Persian Gulf. Bahrain is one of the largest hubs of manufacturing goods and services. It is one of the largest exporters of interesting and fascinating goods. This country has become the first in investing in banking and tourism sectors and has been recognized as the high-income-economy by the world bank
3. United Arab Emirates: net GDP $44500(per capita income)
Also known as Emirates and pronounced as ‘Amirates’ by the Arab people. The seven Federation established Emirates in the year 1971 at the southeast corner of Arab peninsula. The main source of income of Emirates is oil and tourism. UAE has become one of the wealthiest countries of middle east peninsula gulf. World’s tallest building Burj Khalifa and Burj Al Arab stands in the Sterling Emirates.
2. Kuwait: net GDP $45000 (per capita income)
Kuwait is one of the richest countries not only of Arab peninsula but in the entire world it is famous for having highest currency value. The oil and petrol reserves have made the fortune of this country. Kuwait is the 2nd richest country situated at the northern end of the Persian Gulf.
1. Qatar: net GDP $989000(per capita income)
Qatar is one of the largest producers of petroleum and natural gas. Many harbors of Qatar have a very vast capacity of natural gas of about 450 trillion cubic feet. It has the highest GDP in the world because of its 14 percent total supply of natural gas to the world. Qatar is one of the most modern and developed countries of the world with magnificent infrastructure. Also, this country has the largest airline networks in the world.
The Arab peninsula has acquired the fortunes because of situating in the area which has a vast variety of petroleum oil and natural gas. Besides this, the Persian peninsula also comprises of worthy minerals like copper and gold. The trade and business network of the gulf region with the rest of world most importantly lays on the manufacture of oil and petroleum.