With energy needs expanding worldwide and oil prices remaining high, the Qatari economy is booming. Under the prudent leadership of His Highness Sheikh Hamad Ben Khalifa Al Thani, the state's development strategy is focusing on diversification of the economy away from oil, toward extensive gas reserves and industrial expansion. Oil and natural gas revenues enable Qatar to have a per capita income not far below the leading industrial countries in western Europe. Additionally, Qatar is hosting the 2006 Asian Games and has embarked upon developing the country as a leading destination for tourists and sporting events. To this end, the infrastructure sector is witnessing unprecedented growth. As a natural ripple effect, the banking sector (made up of 14 banks) is expecting a high growth trend over the next few years, as the strong economy and job prospects continue to attract an influx of all segments of people, from semi-skilled to high-end professionals. Eighty per cent of the 0.8 million population of Qatar are expatriates.
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