Swiss bank Credit Suisse: Kuwait 2nd richest in Gulf

KUWAIT CITY: According to the Global Wealth Report for the year 2021 issued by the Swiss bank Credit Suisse, Kuwait is the second richest Gulf country after Qatar in terms of average per capita wealth until the end of 2020. Kuwait’s fortune jumped from $62,064 in 2000 to $129,890 in 2020, which is an increase of 109.3 percent in two decades.

The total wealth in Kuwait amounted to $ 409 billion, which constituted 0.1 percent of the world’s total wealth in 2020, and the per capita GDP amounted to $34,339. According to the report of Credit Suisse, Qatar ranked first in the Gulf region with an average per capita wealth of $146,730 and total wealth of $ 352 billion.

In third place is the UAE with an average wealth of $ 115,476 per person and total wealth of $ 930 billion. Bahrain is in fourth place with $ 87,559 per capita wealth and total wealth of $ 115 billion. Saudi Arabia came fifth with per capita wealth of $ 68,697, and total wealth of $ 1.662 trillion, reports Al-Rai daily. In sixth place is Oman with per capita wealth of $39,433 and a total of $ 148 billion. With an average per capita wealth of nearly $ 674,000, Switzerland was ranked by Credit Suisse as the richest country in the world. The United States of America came in second place with an average per capita wealth of $ 505,420.