How Qatar Became The Richest Country In The World

In just 50 years Qatar has gone from a poor fishing country to an oil giant with the highest per capita Gross domestic product in the world roughly at eighty thousand to a hundred thousand dollars and even that’s kind of an under estimate to the real wealth of the citizens of Qatar and the Citizens are about two hundred thousand of them with an average income of well over four hundred thousand dollars Qatar sits on the world’s third largest Natural gas reserves, which contributes largely to its wealth welcome to another episode of FTD facts My name is Leroy Kenton And we’re talking about the history of Qatar – how it became so rich and then before you continue Don’t forget to give this video a big thumbs up and also if you’re new here in FTD facts You might want to hit that subscribe button like it’s so worth it and then click that Bell notification Just so you don’t miss any upcoming Episodes and a question I gotta throw out to you is how much money do you want to have let me know down below For me. I don’t know I think I want to have a million dollars a day 365 million dollars a year Yeah, that’s uh. What would that look like anyways is that too much money? I don’t know if there’s anything called too much money Whatever Bill Gates has billions of dollars, but yeah, I’d love to hear how much money you want to make now There’s a quite a bit of you guys that requested for us to do a video on Qatar and so I want to thank everybody that requested Qatar this was so fascinating I learned a ton when I was doing research about this Qatar has been ruled by the Al Thani family since the early 1900s when it was controlled by the British on July 17th 1913 sheikh abdullah bin Kasim Al Thani Became the ruler of Qatar at the time Qatar’s primary industry was pearling and fishing the country at the time was dealing with widespread poverty malnutrition and disease from the collapse of the pearl trade in the 1920s in 1939 oil was discovered in the city of duquan But development on the field was slow until 1949 because of world war ii while the oil discovery was great It was nothing compared to the natural gas reserve found 30 later in 1951 Qatar produced 46,500 barrels of oil a day amounting to 4.2 million dollars in revenue the discovery of offshore oil fields led to an increase in production to 230,000 barrels per day then Qatar began a slow modernization process the country’s first school hospital and power plant and Niemann telephone exchange all opened in the 1950s all revenue steadily increased through the 1960s out of the Al Thani family grew stronger by placing relatives in high government positions However oil productions is not expected to remain at its peak levels of 500,000 barrels a day because of the oil fields are projected to be mostly depleted by the year 2023 But Qatar has natural gas reserves to compensate for that Qatar’s reserves of gas are the third largest in the world Qatar’s reserves are estimated to be at 896 trillion cubic feet in the year 1971 the world’s largest natural gas field the south pars North dome gas condensate Field was discovered off the coast of guitar But the crash of the oil prices in the 1980s stopped the growth of the economy By the year 1995 the situation in Qatar had not improved until Hamad bin Khalifa al-thani Took power in a coup and then Qatar became a very powerful force Hamad saw that keeping a low profile could be dangerous and set a whole new direction for the country so how exactly did Hamad raise Qatar’s Profile in the world what he ended up doing was pretty big so first. He led the u.s. set up its regional military headquarters the Al Udeid Air Base outside the capital city of Doha the Partnership with the US military has given Qatar a new level of security Hamad then went on to integrate Qatar into the global economy he built the world’s largest facilities for condensing liquid natural gas and began exporting Liquid natural gas for the first time following that over the past 15 years 14 liquid natural gas plants have been built in partnership with international oil companies in the late 1990s Qatar entered in production sharing agreements with several international oil companies and in 1996 for those of you who keep up to date with anything to do with the news well you probably know about this Hamad launch al-jazeera which is a 24-hour news station that combined aggressive? Reporting high production value as well as an Islamic Worldview al Jazeera became huge and the purpose of this organization Was really about enhancing Qatar’s visibility as well as its influence But the channel has gone on to be one of the most Important broadcasters in the whole Arab world when it comes to news Qatar’s GDP has skyrocket over the past 15 years Thanks to steady oil production and high natural gas production in regards to planning for the future Depletion of its oil well Qatar has taken measures to diversify its economy in the year 1998 the government built Education city which is a huge campus that supports six American and two European? Universities as well as research centers Qatar has a sovereign wealth fund of a hundred and seventy billion dollars Then the Year 2005 Qatar established the Qatar Investment Authority to recycle oil and gas income into other income streams in other words It was set up to buy a lot of things around the world and thus reduces the country’s exposure to the oil price in London alone it owns Harrods The Shard the Chelsea barracks site the US Embassy and the Olympic Village site among many others it is also the largest shareholder in Sainsbury Which is just over a quarter of the business and check this guys it also Co owns Miramax Films After purchasing it from Disney with a group of other investors the Qatar Financial Center was built in 2005 to develop Katara’s financial services in industry the country believes it can become a financial services leader for the Gulf states, thanks to its relative stability and large base of capital in 2006 Qatar passed Indonesia to become the largest exporter of liquid natural gases in the world with revenues from oil and natural gas Amounting to 60% of Qatar’s GDP but more competition was coming with liquid natural gas production booming in Places like the United States as well as Australia and then in December of 2010 Qatar was selected as host of the 2022 FIFA World Cup and because of that Qatar promised to build 12 state-of-the-art Stadiums that would employ cooling technology so players could escape the heat Qatar has positioned itself as a sporting hub for the region Hosting or planning to host numerous global sporting events and last June It was alleged that Qatar spent 5 million dollars on bribes to secure the 2022 World Cup bid Switzerland is now opening an investigation into mismanagement and money laundering related to Qatar’s bid So there’s still quite a bit of controversy going on there, but hey Qatar has really set itself up Powerfully to be a powerhouse nation in the world Now before wrap up this video this episode of FTD facts is brought to you by Graham early Calm the link is down below where you can install Graham relief for free It’s one of the world leading software’s and improving your written English skills so again the link is down below We can install Graham early and if you really love the software and you want even more features you can purchase the upgrade and that will give you all the Exclusive features so guys. Thank you so much for watching another episode of FTD facts you guys have been awesome You gotta check out our playlist of recommended videos that’s below in the video description I highly recommend it hence the phrase recommended videos you’ll learn a lot more so yeah keep on learning on FTD facts and be sure to leave your Suggestions and what FTD facts episodes that you want to see next also guys don’t be afraid to follow me on Instagram. Don’t worry I won’t think you’re a stalker you can keep up to date with everything I’m doing what I’m filming these FTD facts episodes and more in closing now several reports state that Guitar is the wealthiest country in the world when we look at its GDP per capita The country developed itself based on natural gas oil and diverse Investments around the world there are many countries in the world which have fossil fuels But few have done as well as Qatar to take advantage of them in fact countries like Venezuela Iraq Libya and Nigeria became victims to the resource curse Which is when an abundance of resources leads to less economic growth and limited development? The support of the United States as well as decades of stored reserves have also helped to stabilize the growth and development of the country Making it now the richest country in the world What Hey guys and thank you so much for watching be sure to check out this playlist of veils that we Recommend so you can continue learning about the different places and cultures all around the world you guys have been awesome And I’ll see you real soon

100 thoughts on “How Qatar Became The Richest Country In The World”

  1. can u made video about nepal uk brunei allies we r the strong allies of this world

  2. Just one of many Terrorist sponsoring Arab countries governed by Shariah Law, the same Shariah Law ISIS & Al Qaeda wants to establish in all countries

  3. This video does not really explain why Qatar is rich. Because it has gas resources? Venezuela has the biggest known reserves of oil in the world and is in a state of economic collapse. Qatar is rich because of Chinese, Japanese, and Korean money. There is great demand from Asian countries for cheaper gas, and Qatar is the place to buy it from. There I explained it in a few sentences what this FTD Facts video did a horrible job of NOT explaining, instead talking about Soccer and shit.

  4. check out for the top 15 richest countries in the world (Based on GDP Per Capita)

  5. Quatar Emir: must watch this video on youtube, If he thinks that he kills me through his countless Islams :Edinburgh Tattoo – Massed Pipes & Drums – Scotland The Brave & The Black Bear

  6. Wow amazing strides the State of Qatar is making giant leaps in every aspect of socio-economic development and is a very vocal advocate for freedom for the oppressed and punches way above its weight in political affairs on the global scene..Can t wait till 2022 fifa world cup when the whole world will witness all the might and beauty of the pearl of the Gulf and rightly earn the profile and stripes of this magnificent independent state reaching for the stars

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  8. It's true qatar is the richest country in the whole world but still they pay their workers little money ,All they do is shopping and feel their accounts with money,drive expensive cars and after pay their workers with little money😯

  9. Because is small and Im from Iraq🇮🇶 but me mother is from qatar🇶🇦 Qatar is rich because the oil and small land and not soo much people like America all video is fake but you say truth good job bruh make more of this

  10. I am working here in Qatar..for almost 2years already..this place is peaceful,people obey the rules and during there national day it was extravagant .super amazing..😁😁

  11. I won a make money 100000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000’9000000000000000000000 that much

  12. Dude, you just plagiarized (read aloud) the entire piece by Harrison Jacobs from Business Insider titled "How Qatar got so rich so fast." Give the man some kudos for the work you just stole presenting as your own. Not even paraphrasing, straight out cut-and-paste.

  13. Bless the people there. I dont live there. I've never been there either. I am in America and I am poor. I am happy though. I live in love. Love for all that love themselves. I just would like to make enough money that I could afford for my family and the people around me to have their needs met.

  14. I need Bill gates net worth with Vladmir Putin net worth Mohamed bin salman Abdul Aziz al saud net worth and Jeff benzos

  15. also you can walk at mid night alone with million of dollars cash open in hand, no one would bother to see even, this we cant do in any Country in the world no way.

    Amazing, love u and Allah protect you with bad eyes, ameen

  16. This video is a disgrace, absolutely disgraceful.

    Please, don’t be so biased on Abdullah bin Hamad bin Khalifa Al-Thani.

    Who do you think is responsible for the FIFA corruption money laundering scandal?

    FIFA international executives and associates are still in prison in an ongoing and continuing investigation.

    1,200 people have died since their selection as world cup hosts.

    They exploit these workers into slavery with the “promised” salary of $400 a month.

    Many of the modern-slaves are from US non-allies such as North Korea and suffer from disgusting working and living conditions.

    Feel free to google check all these facts for yourself.

    2.6 million of the Qatar migrant workers, 90% of which are migrant workers.

    This is pretty much propaganda…are you working for Abdullah bin Hamad bin Khalifa Al-Thani?

  17. Proud of what???? Gold toilets??cars???ships??? How would you people justify your wealth on the day of judgement when you would be asked of the plight of Muslims in Burma,chechnya, and all over the world… what would you people "ROYAL" hold in the eyes of ALLAH ALMIGHTY.??? Muslims are being slaughtered all over around you and you are being proud of the land you were born in….what a shame…

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  19. That's why I'm not wondering why qatari people easily terminate worker because they look their self very high and using their money power.

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