Why are kuwaitis rich

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Delete Cancel Save. Cancel Save. View Expanded. Friday, November 12, Next article Popular Festivals in Bahrain. Traveling need not to be so expensive and hassle. In fact, a lot of alternative ways exist for expats and tourists to save more Read more. Have you ever hoped to work for the richest companies in Kuwait? We have listed If you want to work or live in Kuwait, you must be ready to embrace differences when it comes to culture, lifestyle, food, and Must Read.

Saudi Arabia. While oil prices stay high, Kuwait can limp along. According to forecasts by Fitch, its economy will grow just 2. Even if it started posting budget deficits, the country could live on its savings for many years. But Kuwait may fall further behind its Gulf neighbours in terms of attracting investment and developing its private sector, as foreign businessmen stay away and local firms focus on opportunities overseas.

NBK, for example, said it aimed to earn 50 percent of its profits from overseas branches by , up from 29 percent now. And if oil prices fall over the long term, Kuwait will eventually become vulnerable if it does not have a solid private sector economy to fall back on - especially if political tensions pressure the government into continuing to increase public sector wages and social welfare in coming years.

Kuwaiti mission to UN. The State of Kuwait Capital: Kuwait. Image source, Getty Images. Internet use is among the highest in the region. Read full media profile.