Qatar has benefited from high hydrocarbon prices on world markets, investing in diversification that has doubled non-hydrocarbon growth from an average of 5% in the 1990s to 10% since 2000. Opportunities for investment in a range of manufacturing and service industries have positioned Qatar in the top echelon of attractive Middle East countries.

Home to the world’s third largest reserves of natural gas, after Russia and Iran, Qatar is the largest exporter of liquefied natural gas (LNG).The hydrocarbon sector’s high growth is generating government surpluses, which contribute 60% of GDP and 65% of total government revenues. On average, hydrocarbons have comprised 85% of total exports since the beginning of the decade.

Real GDP growth rose from 3.3% in 2001 to 16% in 2008 after significant additional quantities of oil and natural gas were explored and higher exports of liquefied natural gas (LNG) came online.

The growth drivers of Qatar, in some ways, are similar to many GCC countries: hydrocarbons, services, population growth and affluence, which will result in Qatar registering the highest growth rate in the region in 2009 of around 10%.

The accumulation of wealth by Qatar has allowed the government to maintain expansionary spending, preventing a decline in the growth momentum in the midst of the global economic crisis.

The business environment is increasingly more attractive as investmentrelated regulations are revised, resulting in strong growth in the private sector and corporate spending. The influx of skilled labour for the growing services and manufacturing sectors, and blue-collar labour for construction has further supported the rise in supply and both demand in retail and housing services.