Economy
From The Report: Qatar 2025
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Qatar’s economy has undergone significant transformation since 2010, when it was awarded hosting rights for the 2022 FIFA World Cup. A major infrastructure build saw the construction of arenas, hospitality, retail, transport and leisure facilities. The government strategically leveraged the international exposure to attract higher inflows of foreign direct investment, aligning with its broader economic diversification agenda. Qatar possesses the world’s third-largest natural gas reserves and is among the largest exporters of liquefied natural gas globally. Those strengths, coupled with a population of around 3.1m, endow Qatar with vast sovereign wealth and one of the highest GDP per capita figures in the world. Qatar’s economy is strong and stable, and this strong position will benefit the country as regional competition increases, especially with GCC member states focusing more on economic diversification.

This chapter contains interviews with Sheikh Faisal bin Thani Al Thani, Minister of Commerce and Industry; Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber; and Sheikh Mohammed bin Faisal Al Thani, Vice-Chairman, Al Faisal Holding.

Articles from this Chapter

Overview

Positive outlook: Transforming from dependence on hydrocarbons to diversified growth amid regional competition
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Qatar’s economy has undergone significant transformation since 2010, when it was awarded hosting rights for the 2022 FIFA World Cup. A major infrastructure build saw the construction of arenas, hospitality, retail, transport and leisure facilities. The government strategically leveraged the international exposure to attract higher inflows of foreign direct investment (FDI), aligning with its broader economic diversification agenda. Qatar possesses the world’s third-largest natural gas reserves and is among the largest exporters of liquefied natural gas (LNG) globally. Those strengths, coupled with a population of around 3.1m, endow Qatar with…

Interview

Future focused: Sheikh Faisal bin Thani Al Thani, Minister of Commerce and Industry, on how technological solutions in manufacturing boosts competitiveness and contributes to sustainable aims
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Interview: Sheikh Faisal bin Thani Al Thani, Minister of Commerce and Industry, on how technological solutions in manufacturing boosts competitiveness and contributes to sustainable aims What steps is Qatar taking to enhance its competitiveness as an investment destination? SHEIKH FAISAL BIN THANI AL THANI: Qatar’s Third National Development Strategy 2024-30 supports economic diversification and aims to attract $100bn in foreign direct investment (FDI) by 2030 with a 4% average annual growth…

Analysis

Globally competitive: Focus on education and support for start-ups contributes to the development of a knowledge-based economy
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Qatar National Vision 2030 sees the government working to diversify the country’s economy away from hydrocarbons, in the process enhancing the knowledge-based economy. To achieve that goal, the government is channelling resources into further cultivating a modern education system designed to facilitate and sustain a highly skilled national workforce and talent pool that enables Qatar to remain competitive in a shifting global economic landscape. Initiatives to attract top international talent are also receiving significant attention. Strong research, development and innovation (RDI) ecosystems can provide valuable linkages between higher education…

Interview

Bolstering opportunity: Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber, on the importance that infrastructure plays in attracting foreign direct investment
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Interview: Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber, on the importance that infrastructure plays in attracting foreign direct investment How are the private sector and public-private partnerships (PPPs) supporting Qatar’s economic diversification and development? SHEIKH KHALIFA BIN JASSIM BIN MOHAMMED AL THANI: The private sector has been an important contributor to economic growth and development, solidifying Qatar’s position as a global business and investment…

Interview

Strategic progress: Sheikh Mohammed bin Faisal Al Thani, Vice-Chairman, Al Faisal Holding, on how the tourism, real estate and education sectors are contributing to long-term economic strategies
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Interview: Sheikh Mohammed bin Faisal Al Thani, Vice-Chairman, Al Faisal Holding, on how the tourism, real estate and education sectors are contributing to long-term economic strategies How do you see economic diversification evolving over the next decade, particularly in fostering innovation and building resilient sectors beyond energy? SHEIKH MOHAMMED BIN FAISAL AL THANI: Qatar’s drive for economic diversification is accelerating, with a clear pivot towards innovation and resilient, non-energy…

Analysis

Domestic talent: New regulation targets the development of the local workforce
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In an effort to boost the contribution of Qatari nationals to the workforce, the Qatarisation Law No. 12 of 2024 was announced in September 2024 and came into effect in April 2025. The law stipulates that private businesses, with the exception of companies related to government firm Qatar Energy and hydrocarbons exploration and production, must prioritise Qataris in recruitment processes. Hiring foreign nationals is only permitted where no qualified Qatari national is available. Compliance is incentivised, while non-compliance is met with financial penalties. Qatarisation is not a new concept. Given its importance to Qatar’s economy, the energy…

Analysis

Sustainability drive: Efforts to achieve environmental targets continues at both the domestic and international levels
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Qatar’s long and short-term socio-economic development plans are focused on achieving the UN 2030 Sustainable Development Goals (SDGs). There are 17 SDGs covering social, environmental, ecological, economic and governance-related targets. Qatar’s significant natural gas reserves grant the country a prominent position in global hydrocarbons markets and value chains, giving Qatar a central role to play and responsibility to fulfil in lowering hydrocarbons-related emissions. The country’s vast sovereign wealth also presents it with an opportunity to help drive SDG progress more broadly, both regionally and globally. Qatar’s small population…

Analysis

Encouraging results: Localisation policies across the GCC are critical in creating sustainable employment opportunities for nationals
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GCC countries have been actively pursuing workforce nationalisation policies to reduce their reliance on expatriate workers and create sustainable employment opportunities for their growing local populations. Proactive Measures In Qatar, the workforce nationalisation rate stood at 19% in 2022, with a goal to increase this to 20%, as per the Qatarisation Policy of 2013. The country is currently accelerating its nationalisation efforts, with the Cabinet approving a law in December 2023 aimed at enhancing Qatari employment in the private sector. The law aligns with Qatar National Vision 2030 and its focus on human capital development. The localisation…