A BRIEF LOOK INTO THE PAST...
Previously, at the beginning of the 20th century, its location favored trade with other countries and the fishing and pearl hunting industries. These economic activities where the main sources of the country’s national income, until Japan “invaded” the global markets with its abundant pearls and destroyed the base of the Qatari economy. Because of this, pearl farming and fishing are now considered as just old traditions and part of the culture.
The following years (the 1930s) where surely some very hard times in Qatar.
However, it wasn’t until the 1940s that its economy rose up again with the discovery of the third largest oil and gas reserves in the planet, transforming Qatar in one of the wealthiest countries. Since that, oil extraction and export has been the base of their economy.