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Qatar: A blossoming market

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With the highest Gross Domestic Product (PPP) per capita in the world, around $143,000 in 2015[1], Qatar enjoys a very stable economic background. The population growth is about 10% higher each year, and with it, the domestic consumption doesn’t stop increasing. The median income is around $9500 per month. Qatar’s standards of living keep on rising and with them, the expectations of the population who is ready to buy quality products. This can be noticed in many areas as food and daily consumer goods, renewable energies, health or clean technologies and Qatar has to satisfy those new consumer demands through investments or importation.

Surpassing its traditional role of hydrocarbon exporter, Qatar is managing to become a major economic player on the international stage and this constitutes one of the main priorities of Qatar National Vision 2030. The positive results of the economic orientation of the last decade are visible. Today, tourism occupies an important place, hotels, restaurants and trades increased by 13.7% this year. As for transportation and communication, other strategic sectors, the annual growth rate was of 10.5%[2].

Thanks to major events like the 2015 Handball World Cup, the 2019 World Championships in Athletic, the 2022 FIFA World Cup or the Olympic Games in 2024, Qatar’s “soft power” continues to express itself threw sports. The Emirate has launched an investment plan of $100 billion to finance those main international competitions.

The construction activity remains the fastest growing sector, with an increase of 18.5% per year. In the next decade, $200 billion have already been assigned to different realizations. The country will massively invest in transport infrastructures and hotels and residential buildings will continue to emerge from the ground. So, it seems easy to understand why Qatar is considered to be one of the most attractive countries regarding infrastructure investments.

 

[1] International Monetary Fund, World Economic Outlook Database, April 2015

[2] « Non-hydrocarbon ‘tops 50% of Qatar GDP’ », Gulf Times, 04/01/2015

[3] « Qatar, Belgium ties to push growth in non-hydrocarbon sector », Gulf Times, 22/03/2015

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