Arab countries, with a huge reserve of natural resources, have some of the richest economies in the world. They consist of 22 countries and are many unions in them. These countries have enough source of oil for the exports in international market making them one of the chief economies in the world.
They have enough oil to sustain their economy for decades and the countries are also getting into the business of real estate making it great to have such a stable economic structure. The wonderful buildings they have constructed with the resources are extraordinary for which their tourist business is also booming with money. Here is the list of top 10 richest Arab countries in 2018.
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Algeria is one of the chief producers of oil in Africa and it is part of the Arab countries in those places. There are many natural resources present in this country like iron, mercury, copper, lead etc. There are other exports done to Europe from there are equally important. The exports of these natural resources around the world have made it one of the most favored economy in the whole of Africa. The GDP of this place is huge and that has made it find a place among the richest countries in Arab.
The Republic of Tunisia is mostly known for the income through mining, agriculture, tourism and also manufacturing important products. They have been one of the top producers of raw materials and due to immense natural resources, they can actually get the things done faster with a lot of workforces. Tunisia offers a great part of the hot Sahara desert, but the great way in which they have decorated their cities, make the place marvellous and attracts tourists from all over. Their economy is one of the best in Arab countries.
Lebanon is one of the chief places with sovereignty and has thousand-year-old culture. This culture has helped the country flourish in all respects and are advanced, social and democratic. Due to the modern technologies around this country has found its place in the list of the top countries in the world. Trade and commerce have also passed along with agriculture in this country. Thus GDP of this nation is rising constantly making it one of the most stable economies in the world.
It is another north African country with a great space around it and enough scope of trade and commerce. This is another place with a great amount of oil reserve within it. The oil reserves in this place can keep the future of the company constantly growing. Libya is considered as one of greatest economy in the world and the education and infrastructure have grown so much that it is easier to get a place in top Arab countries. The GDP of this place is growing constantly making it one of the richest country. The place has also some great attractions making it favourable for tourist visits.
The place comes in the mouth of Persian Gulf making it one of the most strategic places to have a growing trade around the world. The Sultanate here is one of the most important parts of the Arab countries due to its historical importance and monuments attracting tourists. The main sources of revenue are oil reserves surely, but tourism also plays its part in the growing GDP of the country.
5. Saudi Arabia
It is the kingdom of Saudi Arabia and covers a massive area of the Arabian peninsula. It is the second largest country in Arab and is known for the enormous reserve of petroleum which they sell in the international market. The country raised from its previous position through oil mines and it is also the largest producer of oil in the world right now. They have the great structure built by experts, for which real estates are also flourishing a lot. The place also exports high quantity of natural gas. The net GDP is reaching the sky because of the growing economy.
It is the kingdom of Bahrain that is very famous holiday destination all around the world. The tourist attraction is huge and the tourism business generates a lot of foreign revenue in the country. It provides the goods manufactured by them to the neighbouring countries. The country is very famous for the massive production and the growing infrastructure is helping in the upward growth of country’s GDP every year.
3.United Arab Emirates
This place is also known as UAE and has high transport facility for trade and commerce. The country has a highly extensive culture and economy due to development in several areas. The people living here get world class facilities along with the fast-growing economy from the revenues generated through trade and commerce make this place perfect for business. Oil is one of the chief source and revenue and due to the high rises that make the place get heavy tourism around.
It is a country from Western Asia that has a great economy. The northern part of the Gulf has flourished with the great economy and modern technologies that adorn the places around. The country suffered huge financial crisis during the stock market crash but came out of it with a fast-growing economy due to the presence of oil. There are a lot of oil mines present in this region and the place attracts job seekers internationally increasing the revenue of people staying. The GDP is also very high securing it a top spot in the richest Arab countries list.
Qatar is a small country that is fully developed all around due to the fast-growing state of technology in the country and the presence of economic stability in the country. It is considered as one of the most important powers among the Arab countries. The significant revenues come from the raw material production and oil refineries. Refining is one of the chief things done in the country due to advancements in technology. The GDP of this country is hugely making it the richest Arab country at present. That is the reason why the place is chosen to host the mega international events.
The countries in the Arabian region have a great economy due to their natural wealth and also the advancements they have made over the years. Most of the countries have great places to visit increasing the revenues generated from tourism. The modern marvels in building structures and the world’s highest highrises are present in this place that shows the architectural benefits of the place.