Wealthier country Qatar

According to statistics from the World Bank, in 1985, Qatar per capita income was US$21,000, ranking second in the world. For comparison, GDP of Oman was only 300 US dollars at that time, in other words, Qatar per capita income was 70 times higher than Oman.

Before oil was extracted, Qatar was a relatively poor country. Its capital, Doha, was just a lonely and sparsely populated town, with a total population of only more than 8,000 people, mostly salvaging pearls for a living. At that time only 20 primary school and a few home schools was built in the country.

On September 1, 1971, Qatar got rid of British colonial rule and officially declared independence, Qatar gradually regained the oil sovereignty which was illegally monopolized by the West and independently carried out oil exploration, processing and sales. As a result, earth shaking changes took place in the domestic economy. Today, Qatar national economy is dominated by oil, and more than 90% of the oil produced is exported, thus rapidly accumulating a lot of wealth.

Capital

The capital, Doha, has also undergone a transformation as oil revenues have risen. Next to the seaside boulevard, high-end hotels are lined up one after another, standing in the beautiful hall on the top floor of the hotel, through the bright windows, you can see the whole city of Doha. The buildings in the city are almost all white, the government office buildings are neat and beautiful, and the royal palaces and mosques are big and beautiful.

The architectural layout of Doha is very particular. There are many parks in the center of the street, and the verdant banana trees are neat and pleasing to the eye. Since the government attaches great importance to greening work, construction department must to obtain the permission of the environmental protection department before construction. In the capital Doha, there are no factories, no chimneys and there is no pollution.

There are desalination plants, oil refineries and some necessary industrial facilities built by the sea. Due to the proper management, the government uses machines and expert workers to deal with waste and seawater pollution in a timely manner. Doha is also known as the "Sports City" in the Gulf region. There are 7 large stadiums in the suburbs of different styles, showing the beauty of modern architecture.

After the year of 2000, with the high international oil prices, Qatar's economy has maintained a medium-high growth rate. Huge oil revenue has made its national sovereign wealth fund continue to expand, and now its global assets have exceeded 340 billion US dollars. Investment holdings include Hollywood, Empire State Building, London residential properties, British Airways, Italian fashion brands, German Volkswagen, St. Petersburg Airport, etc., this investment is cover all over the Europe and United States.

In 2014, when the international oil price fell, Qatar, which has the oil and gas industry as the backbone of its economy, created a new diversified development strategy, focusing on the development of manufacturing, food industry, knowledge industry, environmental protection industry and pharmaceutical industry.

After years of diversified development, Qatar has achieved positive results. However, Qatar oil and gas industry still maintains a good growth momentum, with oil production of about 1.4 million barrels per day, accounting for about 2% of OPEC oil production. The Output of natural gas in Qatar ranks first in the world, and about 75-80 million tons of liquefied natural gas are exported each year, accounting for 30% of the global market. Its LNG production is expected to increase to 100 million tonnes by 2024.

In 2019, Qatar total GDP exceeded 200 billion US dollars, and its per capita GDP was close to 80,000 US dollars. At present, Qatar has a population of 2.65 million, but more than 85% of the population is foreign workers.