Qatar to have second highest per capita income: report

July 31st, 2008 - 4:13 pm ICT by IANS  


Dubai, July 31 (IANS) The Gulf nation of Qatar will have the second highest per capita income in the world by 2009, next only to Luxembourg, according to a new report. Per capita income in Qatar will cross $100,000 a year, according to the Bahrain-based investment bank Gulf Finance House’s (GFH) Gulf Cooperation Council (GCC) Economic Outlook for the third quarter of 2008.

The report attributed the reason for this rise in income to increased oil and gas revenues.

Production of liquefied natural gas (LNG) in Qatar is expected to touch 39 million tonnes per annum by the end of this year, making the Gulf nation the largest producer and exporter of LNG in the world, the report said.

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