In 2015, Global Finance Magazine ranked the wealthiest countries in the world based upon their GDP per capita. The analysis also included the Purchasing Power Parity which takes into account the cost of living and the inflation rate within the countries in order to compare the living standards. All but the most smallest countries like Andorra and Monaco were included in the study.
GDP per capita $105,091.42
Qatar is currently considered to be the most advanced Arab state for human development. It has the highest per capita income in the world and is backed by the world’s third largest natural gas and oil reserves. The country is so wealthy that approximately 14% of households are dollar millionaires but it relies heavily on migrant workers to build its economy. Currently 84% of the population are migrant workers.
South Africa has become one of the most stable and fastest developing counties on the African continent. Numerous South African businesses have grown into worldwide conglomerates and there are several billionaires living in the country today. Take a look at how some of the richest people in South Africa climbed the ladder of success.
Markus Jooste is the CEO of Steinhoff International. He joined the company in 1988 after he engineered the sale of a South African retail chain to the German owners of Steinhoff. He then worked his way through the company to turn it into “Africa’s Ikea” and the second largest retailer of household goods in Europe. In 2014 Steinhoff International purchased another company, Pepkor Holdings, which added clothing to their list of offerings.