Further information
Qatar
| Wealthy in hydrocarbon resources, Qatar has become the largest exporter of liquefied natural gas (LNG) and home to the world's third largest reserves of natural gas, after Russia and Iran. The abundance in oil and natural gas has resulted in the hydrocarbons sector fuelling high growth and government surpluses, contributing to 60% of GDP, 65% of total government revenues, and 85% of total exports, on average, since the beginning of the decade. The boom in domestic demand has been successful in driving growth in the non-hydrocarbon sectors as well. Real GDP growth rose from 3.5% in 2003 to 16% in 2008.
Driven by a political decision to diversify growth drivers and striving to create an edge over other energy-rich countries, Qatar's government has been active in promoting the country as a destination for financial, physical and human capital, under the umbrella of a national vision and strategy for the country until 2030. The growth in services has been rising in line with the government's policy to position Qatar as a centre for financial services, tourism, education, media and communication, retail, entertainment and health services. Given the wealth that Qatar enjoys and the integrated approach that its government adopts, we believe Qatar is equipped to sustain high growth in a majority of these activities. With the recent developments in international financial markets regarding access to credit, we believe Qatar will not be affected significantly in the short term, given that Qatari banks still have some leeway to grant credit facilities to the corporate sector and a number of the companies implementing high profile projects are backed by the government. |
DSM Index
|
