This enclave set to replace Qatar as the world’s richest place

Last Updated: Aug 10 2018 18:22
Reading time: 0 mins, 33 secs

QATAR- Chinese gambling enclave of Macau is all set to replace Qatar as the richest place in the world.

As per International Monetary Fund projections, Macau will reach the equivalent of about $143,116 per person by 2020 while Qatar will only reach $139,151 in the same time period.

Macau is a global casino hub and is the only place in China where casinos are legal.

Macau’s gross domestic product has more than tripled from about $34,500 per capita in 2001, the IMF data shows. The wealth gap between the two places is also expected to widen beyond 2020.

Singapore, Hong Kong, Luxembourg, Ireland, and Norway are in the list of top 10 wealthiest regions in the world.