What is the most common attribute amongst the world's wealthiest countries as measured by GDP per capita (adjusted for purchasing power parity) in 2016?

Author: Jonathan Gregson
Project Coordinator: Edith Updike

6. Kuwait

Current International Dollars:  70,587 | Click To View GDP & Economic Data

Despite efforts to modernise and diversify Kuwait’s economy, the international oil price is still the main determinant of the country’s wealth. But some change is now afoot. The implementation of the 2015-20 Five Year Development Plan—the second of its type the government has set in motion to reduce the country’s over-dependence on oil revenues, is already beginning to show its effects. In the latter part of 2016 both capital and industrial goods imports posted double-digit growth.  The financing of the plan is jointly shared between public and private sectors, and has drawn some criticism due to the heavy drag on public finances. This led to the Emir, Sheikh Sabah al-Ahmad al-Sabah, dissolving parliament and calling for snap elections in this, the first Arab country in the Gulf to establish an elected parliament.
 


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