Heaven 17 the luxury gap


The discovery of oil in 1991 had the potential to change the fortunes of Equatorial Guinea, and it did, in many ways. Before the discovery of oil the country’s total income was US$132 million, or $330 per capita. Within the next decade per capita gross domestic product (GDP) rose significantly, comparable to that of many industrialized nations—peaking in 2012 at $19 billion ($24,304 per capita). However, oil production has been in decline since 2012, and oil is expected to run dry by 2035 unless new reserves are found.

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Heaven 17 The Luxury GapHeaven 17 The Luxury GapHeaven 17 The Luxury GapHeaven 17 The Luxury Gap

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