Qatar, a concentration of wealth!

Located on the south shores of the Arabo-Persian Gulf, Qatar is a 11,437 km² peninsula. Its neighbours are Saudi Arabia to the West, the United Arab Emirates to the South and Bahrain in the Northwest. This country, the same size as Corsica, has 563 km of shoreline, which used to be its main source of wealth before the discovery of oil: fishing and pearl culture.

Over the last few years, Qatar has become an especially wealthy country with a GDP, in 2005, of $5,800 per inhabitant. Even though its oil production remains modest compared to that of its neighbouring countries, it natural gas production is on the edge of making it the world’s number one exporter.

Indeed, Qatar currently holds the third largest gas reserves in the world, behind Russia and Iran, and over the last few years, it has heavily invested in the exploitation of this wealth. As a visionary, the Emir of Qatar does not limit State income solely on natural resources and he is strengthening his country’s position on the international scene by creating, for 2010, Energy City, the first city dedicated to energetic material exchange in the Middle-East. This new city will house a stock exchange, as well as many offices and services: banks, laboratories, insurance companies, training centres, hotel complexes, etc.

There is no existing market leader in this region of the world, hence the interest for the country to be an innovator in the field, so as to put itself on a par with Dubai.

The dependency on gas and oil enticed the authorities to orientate themselves towards a genuine diversification of the economy. Industrial projects around petrochemistry are actively developing.

Qatar plays an important role on the international scene and has been, since last year, a non-permanent member of the United Nations Security Council. The satellite TV channel AL JAZIRA, created by the head of the State, contributes largely to the distribution of a politically open and independent image.