3. Qatar
With only a small fishing industry and almost no schools just fifty years ago, the once-sleeping peninsula off Saudi Arabia’s eastern coast has become a significant oil-exporting world center in the last two decades. Qatar first began massive exports of natural in 1997 to Japan and Spain, expanding to other countries in the early 2000s. Fifteen years and 14 natural gas plants later, its GDP has grown exponentially from $30 billion to over $200 billion. Qatar has the largest natural gas reserves globally, following Russia and Iran, at nearly 900 trillion cubic feet, earning 60% of its collective GDP.
4. Ireland
Low corporate taxes continuously attract numerous multi-billion dollar companies to relocate and grow their business in Ireland, contributing to the GDP and the high standard of living for the people. Although citizens receive high wages, the income per capita has been growing much slower than the collective GDP. Nevertheless, the country’s stability and ongoing wealth gain from tourism, agriculture, and manufacturing, is coveted by others.
