There are a number of countries that has a good and promising economy and one of it is Qatar as a matter of fact it ranks 3rd among countries with huge reserves of natural gas. At this point, Qatar is one of the major suppliers of natural gas all over the globe with over 15 billion barrel of oil reserves it is expected for them to supply similar amount of natural gas for the next 23 years. Qatar have also taken steps in investing substantial amount in Britain for about ?35 billion and an additional ?5 billion investment plans for UK’s IT sector, energy resources and of course its different infrastructure for the next five years.
The bond that Qatar and UK has is quite deep since the QIA or widely known as Qatar Investment Authority owns an approximate of 20% in one of London’s international airports while the Qatar Airways is a major stockholder in British Airways since 2016. Another plus factor is the fact that Qataris pay greater amount for a bottle of water compared to purchasing gas but despite the country’s great wealth they tend to be prudent with money matters. The frugality that they possess is even supported by a survey which indicates a significantly high number of business owners who prefer cheap or free services even if they can pay for greater services. A perfect example for this one is the fact that they tend to use online free letterhead maker rather than purchase pricey software.
Moreover, Qatar is also the major supplier for the liquid natural gas needed by UK. The UK’s fuel imports comprises of natural gas that covers 30% of it, this in turns is a good thing for Qatar’s economy. The geographical location of Qatar is one of the reasons why it continues to progress since the place where the country lies is known as a natural gas field. Although there is good oil output in a yearly basis still many people shows inclination towards conservative strategies to promote sustainability in the years to come.
As mentioned earlier Qatar has been making investments in UK this year and for the next five years, the investment is approximately ?1 billion however the growth seems minimal compared to the past years which is quite alarming. This is the main reason why the QIA plans to seek other countries where they can invest and make significant returns and apparently they go for US as their next target, they plan to go for an investment that is approximately worth $35 billion.
Even if Qatar is seen as one of the wealthiest countries in the world, the country needs employ feasible steps that will keep their country’s wealth and status high more importantly that people are drastically shifting to renewable energy sources.