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Latest news from Qatar
Qatar’s per capita income at $62,914!
Qatar’s per capita income has reached an incredible $62,914, Kuwait-based Global Investment House said in a country report yesterday. Qatar has witnessed one more year of unparalleled economic growth. The nominal GDP (gross domestic product) growth was 24.2 per cent in 2006.
The GDP per capita reached to a record level of $62,914 which places Qatar among the wealthiest countries in the world. With regard to the policy initiatives, Qatar continued to adopt new laws and regulations with a view to making its investment environment more investor-friendly.
via Peninsula
After setting up Qatar Financial Centre in 2005, the country took a major step in its legal history with the official inauguration of the new international, independent judiciary for the QFC. As part of an ongoing capital market reform process, the Qatari bourse (DSM) took a major step to set up a securities market regulatory authority, called the Qatar Financial Market Authority (QFMA).
The government has been very supportive of the real estate sector issuing various laws that allowed foreign ownership in designated areas in Qatar. Besides the law announced in June 2004 that allowed non-Qataris to own real estate properties in any of the three projects — Pearl Island, West Bay Lagoon and Al Khor Resort.
The government has also announced a new law in February 2006, where the Emir H H Sheikh Hamad bin Khalifa Al Thani ratified two cabinet decisions regarding the sale and lease of real estate in Qatar. Citizens of other GCC countries can own land and residential units in Losail, Al Kharaij and Jebel Thiyab areas as defined in a special map as a result of the approval of Cabinet while expatriates can lease properties in 18 specified areas for 99 years on a renewable basis.
Due to the progressively relaxed regulatory framework, Qatar came third among GCC states in terms of inward FDI by attracting nearly $1.5bn. The country’s GDP rose to a record high of QR191.9bn ($52.7bn) in 2006 at current prices as compared to QR154.5bn ($42.4bn) the previous year.
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sunny123 said
Abu Dhabi Have GDPpe Capita ...Abu Dhabi Have GDPpe Capita $6300 world's Richest City and State.
sunny123 said
Riyadh is 2nd Richest City ...Riyadh is 2nd Richest City of the world 62962 GPD per Capita...
britexpat said
Yeeeeeeeeeeeeeeeeeeeeeeeeeeee ...Yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaw..
I can now go ask my boss for a hefty rise.. :O)
dashingwhitesergeant said
Qatar's GDP may well be much ...Qatar's GDP may well be much higher than (say) Switzerland's but looking around Qatar you would never believe this. You have to look at the distribution of incomes. In Qatar I see 90% of people are living as in the developing world. In Switzerland almost everybody is enjoying a high standard of living and social security. If you think Qatar is ahead of Switzerland you are needing your head examined.
exiledsaint said
Publicity like this is not ...Publicity like this is not good for Qatar because statements like this are made and then people get interested in the country. I hate to agree with dashingwhitesergeant, but when the foreign media come and visit guess what their angle will be? Locals driving around in luxury cars living in huge houses, spending the summers in Europe. They will then contrast that with the labourers and all economic slaves that do all the menial jobs in the country.
...and the tag line? Its great to be Qatari, just don't mention the workers....
The high GDP is also a bit of a misnomer here. Take a large hydrocarbon sector, i.e. many billions of dollars a year and divide it by the small population, say 200,000 Qataris and you get a high GDP. Remember only citizens count in such figures not residents!
truthfulvisitor said
But the numbers lie! They lie! ...It's a developing country, all the way, where oil/gas money rests in the coffers of the Al Thani family / the govennment (the same thing) and they release drops of it here and there - a few billion to QF, Qatari Diar, another few to the airline, and a few more to run a gold-plated civil service where employees work a few hours a day and earn the salary of an investment banker - all this to placate resistance and maintain themselves in power. A benevolent dictatorship where anyone criticising or opposing those in power is removed.
Beneath this government-bloated round of spending, there is no economy as such, but a round of mediocre local businessmen using tried-and-tested franchises from overseas (the flat-pack Ikea of business models) selling overpriced goods and services, trying to catch as much as possible of the money disbursed down to the foreign worker class and making its way overseas via telegraphic transfers and Western Union.
But the best part, by far, of Qatar, are the compliant and self-censoring western expat types who are bright enough to know all of this but are nonetheless effusive in their praise of the 'vision' and 'far-sightedness' of the government and its many initiatives on QL and other public forums. I can think of a few of them here but out of decency won't name names.. They remind me of hungry dogs hanging around with compliant open eyes at the dinner table in the hope of a fatty morsel of chicken they can swallow whole without chewing.
World's second richest country?
Honey, I shrunk the truth!
UkEngQatar said
Good to see that. I hope ...Good to see that. I hope that Qatar can also build the institutions, Infrastructure and Education base to be one the best countries to live/visit in the world. Money is not every thing but used properly can make a huge difference.
-----------------
HE WHO DARES WINS
truthfulvisitor said
removed ...removed
gadarene said
The story these statistics ...The story these statistics tell is far from the truth on the ground here,all of us resident here know that,weather we admit it or not is a different story...the observations made by exiledsaint & truthful visitor are more in keeping with the ground realities which is the harsh truth of the matter...i think a more realistic study would be one that measures standard of living & quality of life & having a separate one done for citizens & expat residents & the honest results of those studies will reveal that in both the above mentioned arenas,the standards here are significantly lower than the developed world even though these per capita & GDP figures are higher than theirs & really people /-a-t-/ the end of the day,isn't quality of life what really matters?...it's a bit useless to have a ton of cash sitting in a bank account while you spend the best part of your life making/saving it & compromise so much on quality of life in the bargain eh?...