Topic > The Government of Qatar's Economy in Qatar - 1716

Qatar, a Gulf peninsula located east of the much larger Arabian Peninsula, is surrounded only by Saudi Arabia and the Persian Gulf. The government of Qatar is an absolute monarchy ruled by a single family since the mid-19th century. The country is ranked as the richest country per capita in the world; furthermore, the CIA World Factbook ranks Qatar third globally for proven natural gas reserves and second for natural gas exports; as well as thirteen on proven crude oil reserves and fifteen on crude oil exports. In 2012, both oil and natural gas exports accounted for 50% of Qatar's GDP and 70% of government revenue. [4]Over the past decade, Qatar has stimulated private sector growth in order to diversify its economy which includes major infrastructure development. [3] [5] Other GCC countries, the Gulf Arab States Cooperation Council, - such as Saudi Arabia, Oman, the United Arab Emirates and Bahrain - have in the past followed a similar path of government initiatives aimed at diversifying their economy, from a sector predominantly focused on energy. The goal was to increase and diversify GDP growth into other sectors. The most notable and similar country to Qatar is Dubai. The Dubai state government began planning its economic diversification strategy in the early 1990s, which included extensive infrastructure development for trade, transportation and tourism, starting with the construction of the largest hotel and luxurious of the time, Burge Al-Arab. [8]The Migrant PopulationQatar has a population of approximately 1.8 million people, however more than 1.5 million are foreign citizens and make up approximately 88% of the total population. Although Qatar has a very low unemployment rate among its citizens, t...... middle of paper...... International Airport (NDIA). Np, nd Web. 20 December 2013. .7. “Qatar Labor Law.” Qatar Labor Law. Np, nd Web. 20 December 2013. .8. Schilir, Daniele. “Diversification and Development of the UAE Economy.” Munich RePEc staff. Np, nd Web. November 20, 2013. .9. Scott, Matt. “Millions paid in bribes for Qatari votes for 2022 World Cup, report says.” The Guardian. Guardian News and Media, 11 May 2011. Web. 20 December 2013. .10. “The Dark Side of Migration.” Amnesty International. Np, nd Web. November 19. 2013. .