Kuwait: A Wealthy Nation with Surprising Facts
Facts About Kuwait
- A Super-Rich Power from a Decade Ago
- Home to the World’s Most Valuable Currency
- Strong Diplomatic Relations with Vietnam
- A Telecommunications Icon
- Future Home to the Tallest Skyscraper in the World
- Possessing Major Oil Resources, Among the Top 10 Globally
- A Massive Oil Extraction Industrial Zone
- Robotic Surgery for Patients
- Rich and Diverse Culture
- The Gulf’s Hollywood
- Annual Dramatic Camel Racing
- Musical Theatre as an Integral Part of Local Culture
Kuwait is known as a country located in the northern part of the Arabian Peninsula, right next to the Persian Gulf, boasting vast oil resources and “world-class” structures. However, what you know may not be all there is to Kuwait. There are many interesting facts about Kuwait that even locals are sometimes surprised to learn.
A Super-Rich Power from a Decade Ago
Kuwait has a relatively open and small economy, with its citizens enjoying a GDP per capita (PPP) of $67,970. According to World Bank reports, Kuwait ranked as the 3rd wealthiest country in the Middle East and 5th globally a decade ago.
A panoramic view of Kuwait City. (Source: Vietnam Embassy in Kuwait).
Home to the World’s Most Valuable Currency
The currency of Kuwait – the Kuwaiti Dinar (KWD) – is recognized as one of the most valuable currencies in the world based on nominal exchange rates. Kuwait’s prosperous and stable economy is primarily due to its oil resource exports. The global energy demand makes it understandable why Kuwait’s currency holds such high value, with 1 USD equating to only 0.3 KWD.
Strong Diplomatic Relations with Vietnam
Vietnam and Kuwait officially established diplomatic relations on January 10, 1976. Kuwait was one of the first countries in the Middle East and the first in the Gulf Cooperation Council (GCC) to establish diplomatic relations with Vietnam right after Vietnam achieved independence and reunification in 1975.
A Telecommunications Icon
The Kuwait Towers, standing at 372 meters tall, is a telecommunications structure located in the heart of Kuwait City. This tower ranks among the top 5 telecommunications towers and the top 39 tallest buildings in the world. Additionally, the Kuwait Towers are over 10% taller than the Eiffel Tower.
Future Home to the Tallest Skyscraper in the World
Kuwait is currently in the process of constructing the tallest building in the world. The Burj Mubarak al-Kabir is expected to reach a height of 1,001 meters and is set to be completed by 2030. This architectural masterpiece is inspired by the tales of “One Thousand and One Nights,” aiming to convey the wonders of the Middle Eastern world.
The super skyscraper Burj Mubarak al-Kabir in the future urban complex Madinat al-Harper (Source: ResearchGate).
Possessing Major Oil Resources, Among the Top 10 Globally
Kuwait’s economy is highly prosperous, with oil extraction and export accounting for over 90% of the government’s income. Currently, Kuwait’s average oil extraction capacity reaches 3.15 million barrels per day. According to the development strategy set for 2040, Kuwait aims to achieve an average daily output of 4.75 million barrels.
A Massive Oil Extraction Industrial Zone
The Burgan oil field, located in southeastern Kuwait, is the second-largest oil field in the world, surpassed only by Saudi Arabia’s Ghawar oil field. As a result, Kuwait holds the 6th largest oil reserves globally, with over 104 billion barrels reported in 2020, of which more than 70 billion barrels are stored in Burgan. Even from a distance, the towering flames and numerous smoke columns can be seen clearly, creating an overwhelming sight.
Robotic Surgery for Patients
Da Vinci surgical robot assisting doctors in more effective patient treatment. (Source: Da Vinci Surgery).
In Kuwait, doctors are now able to perform surgeries entirely with the assistance of the Da Vinci robot during patient treatment. Hospitals have synchronized data entry systems, which all medical team members utilize for their expertise. Kuwait’s Vision 2035 plan aims to diversify the oil-dependent economy, with digital transformation as the leading strategy and healthcare as a key investment area.
Rich and Diverse Culture
The Sheikh Jaber Al-Ahmad Cultural Centre is a grand theater and cultural hub in Kuwait City. The total area of this majestic structure is 214,000 square meters.
Sheikh Jaber Al-Ahmad Cultural Centre (JACC). (Source: Unique Kuwait).
The Gulf’s Hollywood
Kuwait-produced television shows are among the most popular in the Gulf region, captivating audiences even in Tunisia. It can be said that Kuwait is the focal point of the film industry in the Gulf, as most television shows are filmed and produced in Kuwait.
Annual Dramatic Camel Racing
In 2006, Kuwait became the first country to introduce camel racing, where players use remote controls to navigate their four-legged athletes. The annual camel racing event takes place from October to April of the following year, attracting thousands of the strongest camels and a nationwide audience.
Musical Theatre as an Integral Part of Local Culture
Kuwait is the only Middle Eastern country with a traditional culture of musical theatre, one of the entertainment forms favored by the elite. The traditional musical theatre culture in Kuwait has a long history dating back to the 1920s.
