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Qatar
| Beyond oil score(out of 100 points) |
71.0 |
| Index ranking(out of 26 countries ranked) |
6 |
| Overall status* |
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| General Economic Framework |
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| Political Framework |
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| Society and Future Skills |
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| (Beyond) oil related factors |
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According to US department of Energy Qatar has proven recoverable oil reserves of 15.2 billion barrels. The onshore Dukhan field, located along the west coast of the peninsula, is the country largest producing oilfield. Qatar also has six offshore fields, Bul Hanine, Maydan Mahzam, Id al-Shargi North Dome, al-Shaheen, al-Rayyan, and al-Khalij. Qatari crude oil has gravities in the 24º-41º API range.
Oil and gas play a large part in Qatar’s economy and both currently account for more than 55% of GDP, roughly 85% of export earnings, and 70% of government revenues.
The Qatari government is making a conscious effort to diversify its economy away from oil. To achieve that, the Qatari has earmarked US$5 billion for further industrialisation projects (aside Gas and Oil) during the early 21st century. The mechanism created by the Qatari government to assist its diversification efforts include the tasking of the state-owned Qatar Industrial Development Bank (QIDB) with finding and encouraging new industrial and economic development. The Qatari government has also revised its investment laws in order to encourage investment in the non oil sector. As a result now foreign companies has have 100% ownership in sectors such as tourism, health, infrastructure and education. The tourism and construction sector are at the helm of Qatar’s diversification strategy. The Qatari government plans to invest $15 billion in new hotels, new tourism campaign, and hosting of special sporting events such as the Asian Games in 2006. The construction sector has also seen a boom, due to a notable increase in government spending on infrastructure, and also due to change in investment laws allowing foreigners to have full ownership in some parts of the country.
Qatar’s transportation sector is expanding, with Qatar Airways being the owner of one of the biggest and most modern fleets anywhere in the Middle East, whilst its services have won some of the highest number of rewards in the travel industry. The Qatari manufacturing sector, especially its steel production capability is also making important strides in becoming a major part of Qatar’s non oil sector
Beyond Oil Summary
Qatar’s liberal trade and ownership laws, diversified range of non oil industries, plus its strong trade relation with neighbouring and foreign countries have ensured its position at mid ranking table. Furthermore, its abundant gas supplies, plus its favourable investment environment will ensure that its Beyond Oil plans continue to bear positive results. As with other neighbouring countries, Qatar’s downfalls are its continued reliance on oil, problem with corruption, and small number of future industries such as Technology related and Bio informatic industries.
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Indicates high preparedness
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Indicates deficits but potential for development
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Indicates unfavourable preconditions.
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