Qatar has one of the fastest growing economies in the world and by 2012 will be the largest liquefied natural gas supplier (LNG) in the world, too. Much has changed in recent years and it is not only mega gas deals and high prices that have helped to create a booming economy and allowed Qatar to top the ranking in the World Economic Forum’s Arab World Competitiveness Report 2005, ahead of the United Arab Emirates and Bahrain.
Revised estimates show that Qatar’s GDP grew by a massive 25% in 2004 and forecasts suggest a further huge 29% growth in 2005. Qatar’s economy is not only about gas, although it is committed to spending $108bn on infrastructure and hydrocarbon projects over the next five years.
