5 Countries with the Highest Savings Rate in the World

2.Qatar

Gross Savings (% of GDP): 58%

Qatar benefits from a strong economy driven primarily by its vast oil and natural gas reserves, which provide substantial revenue streams. As a result, Qataris enjoy high incomes and often prioritize saving a major portion of their earnings. Additionally, the government plays a crucial role in encouraging saving through policies such as generous subsidies, allowing citizens to allocate more of their income towards savings.

Moreover, cultural and societal norms in Qatar also contribute to its high saving rates. The concept of saving for the future and ensuring financial security is deeply ingrained in Qatari culture. Families often focus on the importance of saving from a young age, fostering a culture of financial prudence and foresight.