Ranking Gulf countries in terms of economic stability and quality of life
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These six Gulf countries have great fossil fuel reserves. But the reducing oil prices in the global market has been compelling them to try out economic diversification. They are trying to reduce their dependence on oil by focusing more on tourism, manufacturing and even transportation.
1. UAE
No. 1 in Economically Stable
No. 17 in Best Countries Overall
2. Saudi Arabia
No. 10 in Economically Stable
No. 32 in Best Countries Overall
3. Qatar
No. 14 in Economically Stable
No. 25 in Best Countries Overall
4. Kuwait
No. 27 in Economically Stable
No. 53 in Best Countries Overall
5. Bahrain
No. 32 in Economically Stable
No. 69 in Best Countries Overall
6. Oman
No. 38 in Economically Stable
No. 61 in Best Countries Overall
The UAE is also one of the most liberal countries among the six Gulf Cooperation Council (GCC) nations. Prior to the discovery of oil, the country’s economy used to be dependent on primarily fishing and the pearl industry. But since the export of oil started in the 1960s, the UAE’s economy has rapidly transformed.
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