DUBAI, United Arab Emirates — Qatar is house to some 2.9 million individuals, however just a little portion — around one in 10 — are Qatari residents. They takepleasurein enormous wealth and advantages sustained by Qatar’s shared control of one of the world’s biggest reserves of natural gas.
The small nation on the eastern idea of the Arabian Peninsula juts out into the Persian Gulf. There lies the North Field, the world’s biggest undersea gas field, which Qatar shares with Iran. The gas field holds roughly 10% of the world’s understood natural gas reserves.
Oil and gas haveactually made the 50-year-old nation wonderfully rich and prominent. In a matter of years, Qatar’s approximately 300,000 people haveactually been pulled from the tough income of fishing and pearl diving.
The nation is now an global transit center with a rewarding nationwide airlinecompany, a force behind the prominent Al Jazeera news network and is paying for the growth of the biggest U.S. military base in the Mideast.
Here’s a appearance at Qatar’s economy and how this small nation was able to invest so much to host the FIFA World Cup:
QATAR’S ECONOMIC STRENGTH
For most of its presence, the people of Qatar relied on pearl diving and fishing for survival. Like other parts of the Gulf, it was a extreme and bare presence. The discovery of oil and gas in the mid-20th century altered life in the Arabian Peninsula permanently.
While much of the world grapples with economicdownturn and inflation, Qatar and other Gulf Arab energy manufacturers are enjoying the advantages of high energy rates. The International Monetary Fund anticipates Qatar’s economy to grow by about 3.4% this year.
Despite a huge costs spree to prepare for the World Cup, the nation still made more than it invested last year, providing it a soft surpl