Case | HBS Case Collection | September 2013 (Revised November 2013)

Qatar: Energy for Development

by Aldo Musacchio, Colin Donovan, Samir Mikati, Rami Sarafa and Abdulla AlMisnad


Despite being the richest country in the world on a per capita basis, for analysts Qatar belongs in the group of emerging markets considered "frontier markets." This case analyzes the strengths and weaknesses of the development strategy of this small country as set forth by Emir Hamad bin Khalifa Al Thani, who ruled from 1995 to 2013. In 2013, for the first time in Qatar's history, Emir Hamad passed on control of the government to his son Tamim peacefully and Tamim, as Emir, promised to continue with the development strategy of economic diversification set forth by his father. Yet, it is not clear if the ambitious investments in infrastructure, education, tourism and real estate Emir Hamad made were enough to steer the economy away from its dependence on gas exports.

Keywords: frontier markets; state-owned enterprises; State capitalism; sovereign wealth funds; Energy Industry; economic development; Sovereign Finance; State Ownership; Development Economics; Energy Industry; Middle East; Qatar;


Musacchio, Aldo, Colin Donovan, Samir Mikati, Rami Sarafa, and Abdulla AlMisnad. "Qatar: Energy for Development." Harvard Business School Case 714-003, September 2013. (Revised November 2013.)