5 Countries with the Best Economy in the World in 2024

4. Saudi Arabia

GDP Growth: 2.60%

GDP Value: $1.1 trillion

GDP Per Capita: $33,040

Saudi Arabia is the final West Asian country on our list. Its $1.1 trillion economy is powered by oil, as Saudi Arabia is the backbone of the global oil industry. Saudi Aramco, the state owned oil company, is the largest of its kind in the world, and the Saudi government finances a large portion of its budget from Aramco’s dividends.