Qatar Is Now The Fastest Growing Nation In The World, Check Out

There are many countries in the world which forever remain poor. There are very few countries which made a lot of progress in a very short time. Qatar is one of them. A tiny nation Qatar is the fastest growing nation in the world. Also, it has transformed itself into a nation very well. According to the International Monetary Year 2017 report, Qatar now comes first in the Capita GDP list. In this country, the Capita GDP is above Rs 81 lakh. But, here’s the story how Qatar became one of the richest countries in the world from a poor country with diseases.

Ruled By British

Before 1900, Al Thani family ruled Qatar under British’s protection. On July 17, 1913, Sheikh Abdullah Bin Qasim Al-Thani became the ruler of the country. Also, this country was known for the fish and pearl business. But in 1920, there was a sharp decline in pearl business, after which poverty, hunger, and diseases spread.

In The 1950s

In 1950, the first school, hospital, power plant and telephone exchange were installed. The country’s revenues grew tremendously in the 1960s. Al Thani family strengthened their hold on the country even more. The family sat on every major government post to the family member. Also, they were given tremendous allowances.

Got Freedom In 1971

Qatar became free in 1971. Britain withdrew its entire army from Suez Canal. Khalifah ibn Hamad became the ruler himself after removing father Amir Ahmad ibn Ali on 22 February 1972. He made tremendous cuts in the expenses of the Royal Family and furthered the work related to the people. Also, he invested money in activities related to social programs, home, health, education, and pension.

Gas Reserves Found

Gas reserves were also found here in 1971, but this store was not developed due to the continuous production of gasoline. After Russia and Iran, the largest reserves of gas are in Qatar. There is speculation that Qatar’s gas reserve is 896 trillion cubic feet. When Qatar’s economy stalled due to the fall in oil prices in 1980, the development of gas reserves was started in 1989, though production slowed down.

In 1995, Sheikh Hamad bin Khalifa Al Thani snatched the rule from his father, Amir Khalifa bin Ahmad. Sheikh Hamad gave instructions to develop a new economy. He first developed the Natural Gas Reserve at a tremendous speed. This increased production and Qatar started exporting liquid natural gas for the first time. With the help of International Companies, Qatar opened 14 Liquid Gas Plants.

Security From US Army

In the 1990s, Qatar started sharing oil production with International Companies. In 1996, Qatar created a very large al-Udaid Air Base. These bases came in the work of the US military. After the agreement with the US Army, Qatar became a tremendously secure country. Also in 1997, Qatar made long-term agreements with Japan and Spain. Under them, they started giving natural gas to these countries. Qatar later created more clients.

Education City And Research Centre

In 1998, the Government of Qatar developed Education City. This large campus has 6 American universities and 2 universities in Europe. Also, some research centers also opened here. Qatar Investment Authority (QIA) was set up in 2003. Its work is to increase revenue by putting oil-gas into other works. Also, QIA invested heavily in Barclays Bank, Credit Suisse, Herodes, Porsche, Foxewagen and Paris Saint-German Football Team. With the help of QIA, Qatar became one of the largest real estate holders in London. Also, Qatar bought buildings in several parts as well as investing in the high-rise West Shore and Canary Wharf area of West Europe.

Chance To Host FIFA World Cup

In 2005, Qatar Financial Center was built. The country’s leaders believed that they could become a financial leader in the Gulf countries. Also, in the case of export of Liquid Natural Gas in 2006, Qatar defeated Indonesia. In December 2010, Qatar was elected to host the FIFA World Cup 2022. Also, Qatar promised to build 12 stadiums for this big tournament. These stadiums are with special cooling technology. Qatar has also made its mark as a sporting hub. Also, these countries host several tournaments.

So, this was the story of a tiny nation that transformed itself into one of the richest countries in the world. Also, do you know there is an airport in Doha in Qatar which is one of the fanciest airports in the world, Many countries have very amazing airports. So, Check out the top 10 fanciest airports in the world.