The economy of Kuwait is a small, relatively open economy with proven crude oil reserves of about 96 billion barrels, i.e. about 10% of world reserves. Petroleum accounts for nearly half of GDP, 90% of export revenues, and 95% of government income.
Kuwait City is the capital and largest city of Kuwait. Kuwait city is home to Kuwait's parliament, most governmental offices, and the headquarters of most Kuwaiti corporations and banks. It is the political, cultural and economic center of the emirate. Kuwait?s booming economy has allowed many international hotel chains to enter agreements to open hotels in the country.
Kuwait City has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.