Qatar, officially known as the State of Qatar, is an oil-rich peninsula that shares common land borders with Saudi Arabia and maritime borders with the United Arab Emirates, Bahrain and Iran. The capital of Qatar is Doha. The economy is dominated by oil and gas revenues, which account for 70% of export income. With a landmass of 11,400 km², this small emirate boasts the world’s third largest gas reserves.
Independent since 1971, Qatar is a constitutional monarchy ruled by The Emir, His Highness Sheikh Tamim Bin Hamad Al Thani. Since its independence, the economy of Qatar has grown and diversified, reducing the reliance on pearl diving and currently achieving its wealth from huge oil and gas resources. Qatar now holds one of the highest per-capita incomes in the world. GDP rose as high as US$ 92.5 billion which equates to US$ 75,956 per-capita in 2009, the highest in the world. Latest estimates put population at 1.5 million.
The economy of Qatar is one of the most active economies in the Middle East and North African Region. The key to optimism and confidence is the State’s commitment to developing a broad-based private sector that will be able to sustain the decent standard of living in Qatar after the oil and gas reserves run out.
By 2030, Qatar aims to achieve its national vision of being an advanced, educated society, capable of sustaining a better standard of living. Qatar National Vision for the year 2030 provides the framework within which national strategies and implementation plans are being developed.