Qatar is the first in Middle East with number of millionaires, a study says

A study, made by wealth consultancy company Wealth Insight and Spear’s magazine WMS, had come to a fact which says that 2 people out 100 in Qatar are millionaires, meaning that Qatar (mainly its capital Doha)  is the country with the biggest destination of millionaires in the Middle East.



That is because of the huge amount of oil and gas revenues that the country has, although some countries will probably change this fact in the coming years.



The study also mentioned other Arab cities as Dubai, Abu Dhabi, and Riyadh.



In Asia also, Hong Kong and Singapore took a good position with a rate of 3 millionaires in each 100 person.



This study comes at the time a rating report by agency Standards and Poor’s, which revealed that the capita gross domestic product decreased from US$90,000 in 2014 to $60,000 in 2016.



Knowing that this is not the first report to discuss the number of millionaires in Qatar, but also many studies mentioned that rate of millionaires increased rapidly in the last few years. And that is to the flourished economic situation and the stability in the political filed.



Also a study made by the New World Wealth said that the number of wealthy people in Qatar whom have net assets of more than $1 million <<QR3.64 million>>, increased by about 80% from 2007 till now. It also said the number of millionaires in the country will probably increase with a rate of 45% in the ten years, although the prices of oil are decreasing and that the economic situation later on could be worse.


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