Highlights from The Report: Qatar 2022
Qatar | Economy
Oxford Business Group has now launched The Report: Qatar 2022. This 16th edition of our national macroeconomic analysis shines a spotlight on Qatar’s efforts to leverage its abundant natural gas resources and its status as host of the 2022 FIFA World Cup to develop a diversified, knowledge-based economy.
At a time of great disruption in global energy markets, the report focuses on Qatar’s plans to cement its position as a leading player in liquefied natural gas with the North Field Expansion project, which will increase LNG production to 126m tonnes per year by 2027. While LNG expansion is front and centre in Qatar’s energy strategy, the report also analyses the increasing focus on sustainability and clean fuels in light of the rebranding of the state-owned energy firm as it seeks to play a more significant role in the energy transition.
The report also provides detailed coverage of the expected economic multiplier effects of hosting the 2022 FIFA World Cup in November and December, which is expected to bring up to 1.5m visitors to the country during those weeks. The tournament has been the catalyst for transformational infrastructure projects which should have a positive lasting impact on Qatar’s economy and trade figures, as well as enhancing the investment potential of the country.
In this context, the report shows that legacy plans are already well defined for the tournament stadia and related facilities, which align with Qatar’s drive to put sustainability, innovation, social well-being and cultural identity at the heart of its broader development strategy.
The expansion of the public transport system following the opening of the Lusail Tram is another area of focus, as is the progress of reforms in the local labour market following the introduction of a minimum wage and the abolition of the sponsorship system for overseas workers.
While the sporting event brings with it the promise of a large influx of visitors towards the end of the year, Qatar’s tourism industry has already achieved positive results from a rise in Gulf visitor numbers as the pandemic subsides and regional relations improve. Additionally, the report highlights the positive outlook for the cruise segment, with a full schedule of dockings pointing to a strong performance in 2022.
Amid disruption to global food supplies, Qatar’s significant progress in developing its agriculture and food industries over recent years is another key area of focus, with government support mechanisms helping to incentivise investment in production facilities and improve self-sufficiency in key food items.
Read The Report: Qatar 2022 for an in-depth analysis of these crucial topics and more from our on-the- ground experts, as well as incisive insights from key leaders in the government and executives from the top public and private sector companies.