I think out points are actually quite similar - Kuwait can be considered Third World because the median income may actually be very low.
It's hard to separate living standard from income, after all.
Kuwait is a third world country because they want to be, the Kuwaitis are filthy rich but they are ok with having third world accomodations for most the country. Alot of the oil rich Arab countries are like this, the Kuwaitis go to their summer homes in Switzerland
and the Saudis go to Morocco to the chalets, but their countries remain third world shit holes for the most part.
I have never been to Kuwait-----or saudi arabia----but my son was in
lots of the very wealthy oil emirates when active in the US
navy. He described what he saw-----there were poor people---
but they were the enslaved southeast asians who were doing
all the work in the country. I know that there are very poor
people in Saudi arabia-----also the enslaved southeast asians---
and the boys and girls purchased in Pakistan and Indonesia
and India for "use" back home----but also ---as far as I could
figure out from saudis I have known in the USA----the bedouins
out in the desert. There are lots of very wealthy people----
generally the VERY VAST ROYAL FAMILY (like thousands
and thousands) and those "connected". I would not describe
places like BAHRAIN as third world---more like slave
societies As far as I know-----impoverished people do not
languish in the gutters over there----as they do in real third
world countries like ----algeria