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How did Qatar become rich?

Just 50 years ago, the tiny nation of Qatar was one of the poorest territories of Great Britain, relying on pearling and fishing.

Today, Qatar has a GDP per capita of roughly $95,000 and has put itself on the map by being the first Arab nation to host the World Cup.

So how did this tiny peninsula with a population of just under three million transform into a gas giant and one of the wealthiest nations in the world?
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