oa Diversification Of Qatari Economy

Economic Diversification Qatari Economy ABSTRACT One of the major issues before the oil-rich Arab Gulf States in recent decades has been the diversification of their economies from the oil to non-oil sectors. Their heavy dependence (from 70 to 90%) on the oil revenues has prompted these countries to formulate the policies so that other sources of income from the non-oil sector can be enhanced. But the question is how for Qatar States has been successful in implementing these policies? Moreover, what are the major drawbacks in the diversification their economies in the present time? In this paper, an attempt has been made to understand the rationale behind the diversification of Qatar economies dominated any single rent revenues. This has been discussed in the framework of their overall macro-economic development, taking into consideration the various factors of productions, so that a desired balanced growth can be maintained. The main focus of the paper is on the current initiatives taken these States towards the building of a non-oil economy. While highlighting the Arab Gulf State Qatar's economic diversification drive, the paper particularly point out the varying degrees of seriousness and success because as this paper concludes, this economic diversification project can not be conceived without taking into account the impact of fluctuation in oil prices in the global market as well as on the overall economic and political stability in the region.