Cover of The Report: Qatar 2019

The Report: Qatar 2019

Its relatively small population and status as the world’s biggest gas exporter have helped Qatar become the richest country globally in terms of GDP per capita, which stood at $72,700 at current prices in 2019, according to IMF estimates. In recent years, however, the nation has faced strong economic headwinds from a drop in global energy prices to a diplomatic blockade.

While the country has primarily been known for its vast gas reserves, Qatar’s global profile received a major boost in 2010 when it won the bid to host the 2022 FIFA World Cup. Since the announcement, the country has witnessed extensive international investment and substantial infrastructure projects, allowing the population to grow by an estimated 40% since 2010 due to an influx of foreign workers. Guided by plans laid out in Qatar National Vision 2030, the country is on track to take sig¬nificant steps towards upgrading and connecting its land, air and sea networks in 2019. Increased traffic is spurring the development of free zones and logistics centres, which are expected to create opportunities for homegrown entrepreneurs and foreign investors alike. On the IT side, officials have plans for the development of a new smart city, e-government services and start-ups. The nation’s economic growth over the short to medium term is underpinned by a more stabile oil price, an ongoing process of economic reform and the investment push associated with hosting the 2022 FIFA World Cup.

OBG & Qatar