Qatar is a
young market of + 2 million consumers. As of 2016, Qatar has the fourth highest GDP per capita in the
world, according to the International Monetary Fund.
The economic
growth of Qatar has been almost exclusively based on its
petroleum and natural gas industries, which began in 1940.
Qatar is the
leading exporter of liquefied natural gas.
Established in 2005, Qatar
Investment Authority is the country's sovereign wealth fund,
specialising in foreign investment. As
of 2014, it has investments around the world in: Valentino, Siemens, Printemps, Harrods, The Shard, Barclays Bank, Heathrow Airport, Paris Saint-Germain F.C., Volkswagen
Group, Royal Dutch Shell, Bank of America, Tiffany, Agricultural Bank of China,
Sainsbury's, BlackBerry, Santander Brazil, etc.
The country
is free from taxes; however, authorities have announced plans to levy taxes
on junk food and luxury items in the coming years.
Qatar's
proved reserves of gas are the third-largest in the
world, exceeding 250 trillion cubic feet (7,000 km³).
Qatar's
heavy industrial projects, all based in Umm Said,
include: a refinery with a 50,000 barrels (8,000 m³) per day capacity, a
fertiliser plant for urea and ammonia, a steel plant, and a petrochemical
plant.
Qatar's
National Vision 2030 has made investment in
renewable resources a major goal for the country over the next two decades.
Growing
numbers of foreign-educated Qataris, including
many educated in the US, are returning home to assume key positions formerly
occupied by expatriates.
Security is the principal basis for Qatar's strict entry and immigration rules and
regulations.
Qatar
Airways, one of the world's largest airlines, links over 150 international
destinations from its base in Doha.
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