Since gaining independence in 1971 Qatar has quickly risen to prominence both regionally and internationally to become an economic, political and cultural powerhouse in the Middle East. With a relatively small local population and substantial revenue generated from having the third-largest proven natural gas reserves globally, Qatar has one of the world’s highest GDP per capita: $70,700 at current prices in 2020, according to IMF estimates. Prior to 2010 the country was primarily known…
From The Report: Qatar 2020
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Prior to 2010 Qatar was primarily known for its vast gas reserves; however, the country’s global profile received a major boost in 2010 when it won the bid to host the 2022 FIFA World Cup in November and December of that year. Backed by sustained levels of economic growth, Qatar is channelling its resources into transitioning to a knowledge-based economy. The country has been working to translate recent economic growth into greater activity and sustainability throughout the private sector. As such, it has been investing in strategic sectors such as agriculture, services, and research and development to further diversify its economy and attract greater foreign direct investment. This chapter contains a viewpoint from HH Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar.