Why People from the Middle East Tend to be So Rich

It is no secret that folks from the Middle Eastern countries tend to be rather rich. The question before us, then is as to why that is the case: why folks from the middle east tend to be so rich.

The first reason as to why people from the Middle East tend to be so rich is in the fact that the countries they originate from are resource-rich – especially with respect to oil wealth. And the model which the people from the Middle East have used to exploit their oil wealth (where, in most cases, the oil wealth is owned by communities) is one that is favorable to general well-being. Through that model, oil wealth is reasonably well distributed. You actually end up with the population being so rich that it is hard to even get folks locally to do service sector jobs. Even high paying service sector jobs, such as provision of remote IT support through Logmeinrescue.com can’t get takers locally. To the locals, going to the Logmein sign in page, and logging in to provide IT support to others remotely is too much work!

The second reason as to why people from the Middle East tend to be so rich is in the fact that they are astute businesspeople. Indeed, if you look at data from institutions such as the World Bank, you realize that contrary to the widely held opinion, many of the Middle Eastern countries have diversified their economies, and are no longer solely dependent on oil.

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