While oil and gas will probably remain the backbone of Qatar’s economy for some time to come, the country seeks to stimulate the private sector and develop a ” knowledge economy”. For the 15th Asian Games in Doha, it established Doha Sports City, consisting of Khalifa stadium, the Aspire Sports Academy, aquatics centres, exhibitions centres and many other sports related buildings and centres. Following the success fo the Asian Games Doha kicked off an offical bid to host the 2016 Summer Olympics in October 2001. Qatar also plans to build an ” entertainment city” in the future. Qatar aims to become a role model for economic and social transformations in the region. Large scale investment in all social and economic sectors will also lead to the development of a strong financial market