The Economic Boom in Qatar, UAE & Saudi Arabia Research Paper

The Economic Boom in Qatar, UAE & Saudi Arabia - Research Paper Example Even though the recent political developments in the Middle Easter countries like Egypt, Libya etc are causing some impacts in these three countries, nobody expect a political instability in these countries because of the higher level of standard of living in these countries compared to that in other neighboring countries. Dubai, one of the prominent emirates of UAE faced some financial problems recently; however, Abu Dhabi was able to lift Dubai from the recent financial crisis. In other words, different emirates in UAE are helping each other when any of them face trouble which is the major reason why United Arab Emirates was able to develop properly. Business is the major revenue source of UAE. Saudi Arabia on the other hand is blessed with immense oil resources and their economy is highly dependent on the oil revenues. Qatar has revenues from oil resources, tourism, marine products etc. This paper analyses the economic booms in these three Middle Easter countries; Qatar, UAE and S audi Arabia. The Economic Boom in Qatar Qatar is one of the prominent Middle Eastern countries which have diverse ranges of revenue sources. While most of the other gulf countries rely heavily on oil revenues for economic development, Qatar is blessed with oil resources, marine products, tourism, real estate revenues etc. According to the 2010 statistics, Qatar’s GDP real growth rate is 19.4% compared to 9.5% in 2009 and 11.7% 2008 (Qatar GDP - Real Growth Rate) (See Appendix for more details). It is evident from the above statistics that the GDP growth doubled in year 2010 compared to that in year 2009. Perhaps, no other country in the world has ever recorded such phenomenal growth rates over a year period of time. Oil and gas account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar the second highest per-capita income country. Proved oil reserves of 15 billion barrels should enable continued output at curr ent levels for 37 years (Qatar Population) Oil resources are nonrenewable energy sources. It is exhausting day by day because of over exploitation and increase in the number of automobile vehicles which make use of oil resources. In other words, the demand for oil resources is going to be increased in the coming years. Qatar is one country which has higher oil stocks at present. In short, Qatar’s economic progress may not be affected at least for another thirty or forty years of time because of their oil stocks. Business, tourism and marine products are some other revenue sources for Qatar. Qatar’s coastal areas are blessed with some rare species of fishes. About 150 different species of fishes were recorded in the seacoast of Qatar. â€Å"Sweet lips, emperors and snappers, goatfish, shark, groupers, barracudas, thread fins, lizard fish and rabbit fish† etc are some of the rare fish species available in the sea coast of Qatar (Qatar, 2005) Qatar has a wide coast al area and historically, fishing is one of the major revenue sources for the Qataris. Another reason for the economic boom in Qatar is the development of good educational practices. Qatar is doing everything possible to give good education to its people. They realized that educated people are one of the major pillars upon which a country can develop. Many American, Canadian and British universities are operating in Qatar.

International Engineering Management Essay Example | Topics and Well Written Essays - 6500 words

International Engineering Management - Essay Example This study highlights that the first machine was huge in structure which was then technologically upgraded. This led to the invention of some smaller models. The company revolutionized by inventing popcorn machines which used a unique blend of ‘butter oil’ and ‘leaf lard’ to offer crispy popcorns to the customers. In its initial years, to attract customers, the company offered the popcorns in a uniquely designed vintage vehicle with a toy clown in it. Charles Cretors was successful in tracking the market demand which helped the company to establish its niche in the market. With the success of the invention made by Charles Cretors, the company leaped to fame. The company enjoyed the advantages of being a first mover in the industry. This was achieved by the company’s breakthrough innovation in being the first in discovering this type of machine. It enabled the company to earn a bigger market share within a shorter lapse of time. The company was also ab le to achieve cost synergies. Being the pioneer in inventing such a machine, the company could price its products accordingly, depending on the rise in demand for its products in the market. Though the initial demand of these machines was not very high, but in the year 1887, the company was able to sell thirty of such machines which helped it to generate revenues of approximately $3,627. With the rising demand of popcorns, the company started growing stronger in the domestic market. The company was successful in estimating the growing demand for popcorns which was in turn triggering the demand for better popping machines. Such a technologically upgraded machine would enable easy production of popcorns in huge amounts incurring lesser time. To tap this growth opportunity, the company launched two new models out of which one model was named as ‘Earn more’ to attract the grocers to buy this model to ensure higher profits.