Saudi Arabia’s GDP per capita to soar 15% by 2022: report

Saudi Arabia’s GDP per capita is projected to rise from $21,209 in 2017 to $24,416 by 2022, rising by 15 percent in 5 years, according to a report by Spain-based FocusEconomics.

Based on the individual forecasts of over 1000 world renowned investment banks, economic think tanks and professional economic forecasting firms, the report looks at the forecasts for GDP per capita from 2019 to 2022 for the 127 countries to get an idea of what countries are the wealthiest currently and how the rankings will change over the coming years.

By 2019, Saudi Arabia’s GDP per capita is forecast to grow to $22,368, the report added.

GDP per capita is often considered an indicator of the standard of living of a given country, as it reflects the average wealth of each person residing in a country. It is therefore the standard method used to compare how poor or wealthy countries are in relation to each other.

Based on GDP per capita of 2017, the report ranks Saudi Arabia as the 36th richest economy in the world.