Qatar has experienced rapid economic growth over the last several years on the back of high oil prices, and in 2008 posted its eighth consecutive budget surplus. Economic policy is focused on developing Qatar’s no associated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar the second highest per-capita income country – following Liechtenstein – and one of the world’s fastest growing. Proved oil reserves of 15 billion barrels should enable continued output at current levels for 37 years. Qatar’s proved reserves of natural gas are nearly 26 trillion cubic meters, about 14% of the world total and third largest in the world. The drop in oil prices in late 2008 and the global financial crisis will reduce Qatar’s budget surplus and may slow the pace of investment and development projects in 2009. more..
Education in Qatar
In recent years Qatar has placed great emphasis on education. Citizens are required to attend government provided education from kindergarten through to high school. Qatar University was founded in 1973. More recently, with the support of the Qatar Foundation, some major American universities have opened branch campuses in Education City, Qatar. These include Carnegie Mellon University, Georgetown University School of Foreign Service, Texas A&M University, Virginia Commonwealth University, Cornell University’s Weill Cornell Medical College and Northwestern University. In 2004, Qatar established the Qatar Science & amp; Technology Park at Education City to link those universities with industry. Education City is also home to a fully accredited International Baccalaureate school, Qatar Academy. Two Canadian institutions, the College of the North Atlantic and the University of Calgary, also operate campuses in Doha. Other for-profit universities have also established campuses in the city .more..
Tourism in Qatar
Qatar is currently focusing on tourism, as a means of growth. The government plans to increase the number of visitors from 964,000 as of 2007 to 1.5m by 2010 under the ruthless five-year development plan of the Qatar Tourism and Exhibitions Authority (QTEA). The funding needed to meet this goal is already there, in 2008 the state owed some $17 billion for tourism development through 2014, most of which is going towards hotels, exhibition space and infrastructure. To help keeping up with a rising number of visitors, the government expects to increase hotel capacity by 400% by 2012. In addition to financial support, the government also has worked to ease business regulations in a bid to increase private sector activity. more..
Qatar’s 2022 World Cup Preparations and ongoing Projects
Once Qatar won the World Cup 2022, they have started planning to finish the projects for the World Cup on time.
There is now a need to begin moving from creating concepts to articulating touchable plans. The complex ideas such as the air-conditioned stadiums and the metro networks have to be shift into concrete projects.more..
Projects and Business in Qatar
The Doha New Port:
14 billions QAR is the cost of this construction project, which will be built in Wakra. It will spread to 35 kilometers. All construction works are expected to be completed by 2014.more..