High oil and natural gas prices combined with a 20-year strategic investment programme have catapulted Qatar into the ranks of the highest per-capita income economies in the world. Sustained GDP growth has created substantial wealth and raised the country’s standard of living to a level comparable to the most highly industrialised nations....
According to the “Qatar Economic Outlook 2011-12” report, issued by the General Secretariat for Development Planning (GSDP), the country will continue posting double-digit fiscal surpluses in 2011 and 2012 as a result of increasing hydrocarbons revenues. However, as the National Development Strategy 2011–16 (NDS) has pointed out, this hefty surplus...
With the elation of winning the right to host the 2022 FIFA World Cup over, the Gulf state continues to make strides forward in both the economic and diplomatic arenas. The state remains the world’s wealthiest country per capita, according to the World Bank. The General Secretariat for Development Planning (GSDP) forecasts real GDP growth of 6.2...
The area that now makes up present-day Ras Al Khaimah was historically a popular target for invaders due to the emirate’s strategic location at the entrance of the Gulf. This maritime potential made RAK an important shipping point throughout the ages. Indeed, RAK drew military challenges from not only Islamic clans in the Gulf, but also imperial...
A substantial number of new international economic agreements have boosted Ras Al Khaimah in recent years, largely as a result of government-led industrial development measures put in place over the past decade. The emirate has established trade relationships with a diverse group of nations, including Tanzania and the US. Rising export revenues...
Given its relative lack of natural resources, and hydrocarbons in particular, Ras Al Khaimah has had to focus its efforts outside the energy sector, building up a diversified industrial base by making use of a mixture of incentives, infrastructure investment and careful partnerships. Now, the emirate is looking to position itself as a centre for...
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