Qatar's main source of income comes from the export of oil and natural gas, while Qatari citizens hardly pay personal income tax no matter how much money they earn. Qatar was actually a poor country before the discovery of oil and gas. This land is hot, dry and short of water, which has no attraction for foreigners. At that time, Qataris lived a very poor life. But after the discovery of oil resources, Qatar began to get richer and richer.

Diversified development of Qatar's economy

First, it will inject its wealth into education, health and infrastructure to develop a knowledge-based economy. Anyone who visits Doha can see the novel buildings in the desert. Doha's subway, expressway network and port group are second to none. Secondly, Qatar is a major player in the global market. Established in 2005, Qatar Investment Authority is responsible for managing foreign exchange reserves and foreign investment. In fact, sovereign investment funds in the Middle East are relatively successful.

Thirdly, Qatar has a good business environment and ranks high in the global competitiveness report released by the World Economic Forum in Davos. It is the de facto financial center in the Middle East, with its currency pegged to the US dollar and one of the most popular foreign investment destinations. Finally, Qatar is also the target country of labor export in South Asia and Southeast Asia, and cheap labor resources are one of the reasons for Qatar's sustained economic growth.