Qatar has won the title of having the world’s highest per capita income. It is only a matter of time that it makes its way to the firsts in everything and gives the competing nations a tough fight. Let’s take a beat to think about Qatar’s, what seems like an unbeatable position. Qatar has conquered the world market because of its strategic location around the gulf region that enables it to extract petrochemical products with absolute ease. But that can’t be it, can it? Qatar’s high per capita income must be a combination of various segments working together to bring it up to such a position. Let’s have a look at the industries that have been working in unison to make Qatar one of the prominent economies in the world.
1) Energy Industry (Natural Gas, Petrochemical, and Oil)
Qatar is world-renowned for its extraction and supply of natural gas, petrochemical, and oil. It is popularly known as the hub of natural gas and oil reserves. Both components are major contributors to the gulf country’s economy and are the reason behind its high human development index and high per capita income. Despite its popular demeanor, businesses that are functioning within this industry have adopted the modern method of marketing by taking their business “on-the-web.” The reason behind this transition is the speedy growth of firms on the virtual platform. After various trials and errors, the importance of having an online presence is clear to every progressive businessman. Every firm wishes to create a strong virtual presence and conquer the virtual world, and social media platforms provide them with such an opportunity.
2) Steel Industry
The steel industry of Qatar is yet another segment that ranks among the top four industries in the world. It caters to a maximum of the world’s steel needs. The benefits of the Steel industry are spread across a wide expanse of the entire world. Plunging into the digital world will only be beneficial for the industry at large. It will create a healthy competitive environment that is beneficial for consumers for they will have a variety of firms to choose from, and make an informed decision.
3) Financial Industry
Now if the economy possesses the highest human development index, and per capita income, then the nation’s financial services must be on point and wide-spread. Every financial institute of Qatar must believe in the power of online services, and its ability to change the face of their industry. The process is pretty simple and efficient. All the services you provide at a bank branch must be readily available on the website. This way, you can ensure that your customers receive the maximum benefit of the facilities that you wish to provide.
4) Health & Hospitality Industry
Qatar has set an objective for the health and hospitality industry for 2030. The objective is to take the industry to an ‘E’ level by investing the proceeds received from the supply of oil. The benefit of this act is that it’ll create a platform for the nation where the denizens can avail important services at the touch of a button on their mobile phones. Given the circumstances, there is an international health emergency, and taking the health and hospitality industry on the online platform can reform the face of Qatar completely.
5) Fertilizer Industry
After Qatar had conquered the oil and gas segment of the energy industry, the nation decided to diversify and reached for the fertilizer industry. Soon it became the second-largest producer of fertilizer within the gulf nations. Ammonia, urea, and urea-formaldehyde are a few of the majorly produced fertilizers. The industry continues to grow at an average rate of 9.4%, which is one of the major reasons why this industry must have an online presence. An online presence will enable this segment to create a wider consumer base and expand its profit.
Is Your Business Website Ready?
Qatar is a hot spring of expansion and new-age development. The nation wants to diversify into various segments and conquer them. But it must not forget that marketing is the core of every expansion. Unless you use the tools of marketing, wisely, you will not be able to expand profusely The first step of Digital Marketing begins with creating a website. So all you entrepreneurs out there – If you haven’t yet tapped the vibrant world of websites, web design & development and mobile applications, now is your time!