Qatar to lose its status as richest place to Macau

Qatar is on track to lose its status as the richest place in the world to the Chinese gambling enclave of Macau.

The global casino hub’s economy will reach the equivalent of about $143,116 per person by 2020, according to projections from the International Monetary Fund.

That will put Macau ahead of the current number one Qatar, which will reach $139,151 in the same time frame.

A former Portuguese outpost on the southern tip of China, Macau has become a gambling mecca since returning to Chinese control almost two decades ago.