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Qatar is channeling its hydrocarbons wealth into long-term economic transformation, with diversification accelerating after the FIFA 2022 World Cup. In 2024 non-oil sectors accounted for over 60% of GDP, led by tourism, logistics and financial services. Strong fiscal buffers, a US dollar peg and prudent management of the $475bn Qatar Investment Authority support macroeconomic stability. Reforms in labour laws, green investment, and small and medium-sized enterprise development have boosted private sector participation and competitiveness. The trade and investment sector is a key area of the country’s growth due to the government’s ability to leverage associated international exposure to attract higher inflows of foreign direct investment (FDI), aligning with its broader economic diversification agenda. The energy sector continues to be a boon for the economy and FDI inflows due to Qatar’s abundant natural gas reserves and its liquefied natural gas exports. Qatar’s economy is strong and stable, 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.
Nestled between Iraq and Saudi Arabia in the northwest corner of the Gulf, Kuwait has been a leader of Arab democracy and one of the most liberal nations within the GCC since the country gained independence in 1961. Economically, the country also has a bright future, with strong public finances, a young and well-educated population and vast oil deposits.
The mineral wealth of Mongolia, a vast and isolated land, has brought the world to its doorstep. The country’s economy is one of the fastest growing in the world, and production from and investment in its two largest mines should see GDP growth continue to climb.
An archipelago of over 17,500 islands, Indonesia is today the world’s fourth-largest country by population, at 245m. The astonishing diversity of ethnicities and cultures comes together in a democratic framework under the pancasila, or “five principles”: nationalism, humanitarianism, representative democracy, social welfare and monotheism
Jordan’s stable political environment, as well as the robust growth projections for its economy, should ensure near term investment inflows continue to fuel growth across the board; however, regional instability has been having a negative impact on the country’s tourism sector and rising refugee numbers are putting increased pressure on state services.
