Transcript Qatar 2022 - 16-304

What is Economic Development?
There are many characteristics to consider when
looking at Qatar’s economic development. Some
characteristics of a sound economic management
are based on a constant and agreeable rate of
economic growth (Qatar: 16.3 in comparison to
United Kingdom: 0.2). This results in a high
standard of living for the current generation and
for the future generations. Economic stability is
also accompanied through a good financial policy
as well as an efficient financial system. A business
environment capable of attracting foreign
investors and national investments also help to
further expand Qatar’s economic development.
Based on the richness of national resources such
as oil and gas, Qatar plans to have other revenues
other than oil and gas exports. Another factor in
Qatar’s exploitation of gas industry is to provide
clean energy for the country and the world.
Another characteristic in Qatar’s plan towards
economic development is to develop a suitable
economic variation, meaning expansions of its
services and industries, and above all, a
knowledgeable economy characterized by
innovation, excellent education, and a liable
government.
How is Human Development
similar to Economic Development?
Human Development is similar to Economic
Development in many ways. Firstly, in order to
achieve a ‘world-class educational system’ Qatar
needs a sufficient amount of money to pay for the
expenses and also maintain a stable economic
structure. Therefore most of Qatar’s Human
Development Plan for 2030 depends on the
economic factor of the Plan as well. In the same way
the Economic Plan of 2030 also depends on Human
Development Plan of 2030. Take for example the fact
that Qatar would need an educated population to
continue to maintain their growing economy and
concepts to attract foreign investors and compete in
the global market. Another connection between
Economic Development and Human Development is
a healthy population which can only be obtained
through modern technological equipment and that
can only be obtained by having a stable and
prosperous economy.
FIFA 2022 & it’s impact on the
economy
By hosting the World Cup in Qatar, the state would no longer
be called a Muslim state as Qatar would have to acknowledge
alcohol in the country and possibly in the stadiums as well.
Allowing alcohol would also invite new sponsors like FIFA’s
Budweiser sponsorship. FIFA was able to genrate $1.1 billion
in the marketing income during the South Africa world cup in
2010. This may also help extend Qatar’s economy to a higher
growth. According to Morison Menon, Qatar’s government
planned to spend around $100 billion, nearly 87% of 2010’s
GDP prior to FIFA’s announcement. They planned to spend the
money on infrastructure projects as part of Qatar’s 2030
vision. As one can see the expenditure is a lot and therefore
affects an increase in economic growth as well as another
sector surging Qatar’s economic growth. By hosting the world
cup Qatar will have to cope with the flow of tourists and have
to spend money for a metro line and the Bahrain-Qatar
causeway. Qatar will gradually have a boost in it’s sports
facilities and hotel facilities which will affect the economy as
an income factor or variable. Hosting the world cup is also
expected to increase it’s flow of FDI (Foreign Direct
Investment), another goal in Qatar’s 2030 plan.
Qatar 2022 and Economic
Development
Qatar would have accomplished their goals in the 2030
plan by hosting the 2022 FIFA World Cup. By hosting
the 2022 FIFA World Cup, Qatar’s business climate
would attract international investors as well as
encourage national investors because more foreigners
will visit Qatar and the percentage of tourists will
continue to increase. Qatar’s economic structure
would also make an attempt to compete in the world
market as it’s economy continues to rise. The living
conditions will continue to increase for future
generations as it’s GDP continues to arise with the help
of hosting the world cup. The exports of oil and gas will
continue to be exported but a balance will be formed
as different sources of income besides oil and gas are
made (example: income with the tourist sector
because of the 2022 world cup will also lead to an
increase in customers that will stay at the hotel, or
even education; Education City), all which is supposed
to be completed before 2030. As one can see Qatar
would have nearly completed some of it’s economic
goal in it’s 2030 plan by hosting the 2022 FIFA World
Cup. Qatar’s natural gas reserve which is around 25,790
billion cubic meters as of 2007. It is currently the fifth
country with the highest gas reserve. 8.5% of the
world’s gas reserve belongs to Qatar. As a result this
could guarantee it’s 2030 plan if other economic
factors don’t affect the outcome of the 2030 plan.
Resources
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<http://www.km.com.qa/en/corporate/mediacenter/news/pages/kahramaareceivesqsassuitabilityaward2011.aspx>."Economic
Development.
"
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<http://www.constructionweekonline.com/article-11471-qatar-workforce-seen-growing-by-448000-by-2030/>.
"United Kingdom GDP Growth Rate." TradingEconomics.com. Web. 20 Mar. 2012. <http://www.tradingeconomics.com/unitedkingdom/gdp-growth>.