Once a barren desert marred by food scarcity, now wealthiest country in the world, and top exporter of..., the country is...
US President Donald Trump announced several agreements with Qatar valued at over USD 243.5 billion, alongside a broader economic exchange worth at least USD 1.2 trillion. Signed during a visit to Qatar, the deals include sectors from aviation and energy to defence and quantum technology. Beyond the monumental agreement, the wealthy Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, reportedly also gifted Trump a luxurious private jet worth around Rs 3,400 crore. This gesture offers a vivid glimpse into Qatar's immense wealth. However, what many may not realize is that this prosperous nation was once nothing but a barren desert — until a remarkable turn of fortune transformed its destiny completely.
Back in the 1930s and 1940s, life in Qatar was tough—many people struggled just to find enough food to survive. But everything changed with the discovery of huge oil and gas reserves. After gaining independence from Britain in 1971, Qatar, along with Shell, found natural gas beneath the Persian Gulf. This area held about 10% of the world's gas reserves, but without the right technology and expertise, Qatar wasn't able to make use of it right away. For many years, this valuable resource just sat underground, waiting for the right moment to transform the country's future.
In 1995, everything changed for Qatar. Back then, Khalifa bin Hamad Al Thani was in charge, but his son, Hamad bin Khalifa Al Thani, took over in a sudden takeover. The new leader saw huge potential in natural gas and decided to take a big risk by investing 20 billion dollars. Many experts thought it was a foolish move, but this bold decision ended up transforming Qatar's future completely.
In 2006, Qatar became the world's largest exporter of LNG. Its GDP, which was just $2,755 in 1990, skyrocketed to over $50,000 by 2020. After this economic boom, Qatar made several major investments worldwide. In 2005, it created the Qatar Investment Authority, which purchased the famous Harrods store in London for $2 billion. Qatar also acquired a stake in Canary Wharf and built Europe's tallest skyscraper, The Shard. Additionally, it owns 20% of London's Heathrow Airport.
Beyond London, Qatar bought the Paris Saint-Germain football club and acquired a 10.5% share in Volkswagen. On the media front, Qatar launched Al Jazeera in 1996, which has become one of the world's most respected news organizations. Moreover, Qatar Airways has grown into one of the largest airlines globally.
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