Despite being one of the smallest countries within the Gulf Cooperation Council (GCC) both in terms of population and geographical area, Qatar is currently ranking as one of the richest counties in the world,
in terms of GDP per capita. The Qatari economy has evolved from its days of reliance on pearl diving, today the national income is primarily derived from oil and gas exports with Qatar fortifying its status as the categorical exporting giant of LNG proven oil reserves.
In addition to the energy industry, Qatar has achieved the prestigious title in the sports industry, hosting the FIFA World Cup in 2022. This will launch a huge amount of construction projects, in the region on 70$ billion, including nine new stadiums and over 22,000 hotel rooms.
As the country develops, there is also a requirement for the transport network to be updated. Road improvements and expansions will include the Lusail Expressway, Doha Expressway, Dukhan Freeway, and the Doha Bay Crossing. The rail network will also consist of metropolitan railway in Doha, boasting a high-speed rail line between New Doha International airport, Doha city centre and across the planned Qatar- Bahrain causeway into Bahrain. The other sectors within Qatar have
also seen consistent growth as a proportion of national GDP over the recent years, as the government endures in its efforts to diversify the economy.
Directed by the previous Emir H.H. Sheikh Hamad Bin Khalifa Al-Thani and his strong vision for his nation, Qatar has been making confident advances towards a knowledge-based economy. H.H Sheikk Tamim Bin Hamad Al-Thani who succeeded his father, is continuing with a drive
and vision based on steady development, education and healthcare and creating a range of new opportunities for other sectors including real estate, sports, technology, retail and tourism.
Qatar has set itself a target to achieve a zero-oil dependency by the year 2020. In spite of the ripple effect due to the global financial crisis in 2009/2008, the economic growth of Qatar is set to remain
outstanding. The state continues to encourage the private sector to take on more responsibility and expand its role within the economy of Qatar.