Why Qatar
Last Updated :
05 June 2011
Qatar is one of the world’s most dynamic and fastest growing economies, almost tripling in size from 2005 to achieve a nominal GDP of approximately US$121bn in 2010 (source: Qatar Statistics Authority or ‘QSA’). The IMF has reported that the Qatari economy grew by 16.3% in real terms in 2010 and reached a nominal GDP figure of US$129.5bn for the year, while the IMF forecasts that the economy is to grow a further 20.0% in real terms in 2011 to reach a nominal GDP figure of US$194.3bn (source: IMF Regional Economic Outlook April 2011). Qatar was also the world’s wealthiest nation by per capita GDP in 2010 (source: IMF World Economic Outlook Database April 2011).
This growth is being delivered through the implementation of Qatar’s National Vision for 2030. The government is committed to creating a dynamic and broad-based economy by increasing economic diversification through the re-investment of Qatar’s significant energy wealth. The QFCA’s own analysis of recent statistical data suggests that Qatar has over US$16 trillion in proven hydrocarbon reserves to be monetised over the next 100 years, enabling Qatar to offer a uniquely sustainable platform for long term growth and development (source: QFCA analysis of BP Statistical Review of World Energy June 2010).
With a long term sovereign rating of AA and a stable outlook, Qatar is the highest rated GCC state by Standard & Poor’s, enjoying a rating on a par with Japan (source: S&P Sovereign Risk Indicators 24 December 2010).
Qatar was ranked 8th in the World Competitiveness Scoreboard for 2010 (source: IMD World Competitiveness Yearbook 2011), and in the 2010 World Investment Report issued by the United Nations Conference on Trade & Development (UNCTAD), was commended for attracting foreign direct investment flows in 2009, which declined in all other countries of the world except Qatar. Qatar was also placed 30th overall in the Global Financial Centres Index (GFCI) in 2010.