Today’s destination is Kuwait, a small country in the Middle East bordering Saudi Arabia, Iraq and Iran.
Kuwait is tiny. It’s smaller than Fiji, but despite its diminutive size, it reportedly holds 8% of the world’s oil reserves. It’s unsurprising to learn then, that the majority of Kuwait’s exports are oil or oil-based products.
The income from Kuwait’s oil income has been better managed than many other countries. Back in 1953, the Kuwait Investment Authority was set up as the world's first sovereign wealth fund.
Kuwaitis are a minority in their own country with 3.4m million expatriates living in Kuwait constituting 70% of the population.
I’ll leave you with one final tidbit about Kuwait. Camel racing is a very popular sport in Kuwait and human jockeys are being rapidly replaced by robot jockeys. This beats the practice of using young children to jockey camels in the searing desert heat.
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