New Publication Highlights Qatar’s Drive to Broaden Non-Energy Sector

A new report recently produced by the global publishing, research and consultancy firm Oxford Business Group (OBG) analyses the burgeoning sectors of Qatar’s economy that are expected to act as key drivers for future growth. 

The Report: Qatar 2016 considers the government’s plans to invest heavily in a raft of large-scale capital projects over the coming decade, with a focus on the $220bn infrastructure programme. 

In addition, OBG’s 12th annual publication on the state looks at Qatar’s construction industry, which has been supported by a rapid population expansion and is forecast to expand at an average of 11.4% annually until 2022.

The Report: Qatar 2016 contains an in-depth interview with Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, together with a detailed, sector-by-sector guide for investors. It also features a wide range of contributions from other leading dignitaries, including: Vice-Chairperson and CEO of Qatar Foundation Sheikha Hind bint Hamad Al Thani; the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed Al Thani; and Minister of Energy and Industry and President of OPEC Mohammed bin Saleh Al Sada.

Andrew Jeffreys, OBG’s CEO and Editor-in-Chief, said four consecutive years of healthy non-oil growth of around 10% since 2011 dovetailed with the country’s long-term development plan, Qatar National Vision 2030.

“The government’s more conservative budget this year reflects the ongoing external and internal challenges that Qatar faces,” he said. “However, solid macroeconomic fundamentals and substantial fiscal and hydrocarbons reserves have ensured that local players and analysts remain bullish on growth prospects.” 

OBG’s Managing Editor for the Middle East Oliver Cornock added that Qatar’s latest efforts to create a more business-friendly climate would sit well with investors, especially in terms of the expansion of the country’s financial base. 

“Qatar’s Islamic financial services sector has been expanding, on the back of government support and in anticipation of demand for project funding,” he said. “Our report conveys the myriad opportunities for investors emerging across the sectors and I look forward to seeing what the country does to capitalise on them.”

Jana Treeck, OBG’s Managing Director for the Middle East, pointed out that even though Qatar is expected to post a budget deficit this year, austerity measures are expected to continue to further develop the country.

“With a stable long-term outlook, we expect the economy to continue expanding on the back of continued government investment in infrastructure in the run up to hosting the 2022 FIFA World Cup,” she said. “This is crucial in fostering further growth of other sectors, such as construction and tourism.”

The Report: Qatar 2016 marks the culmination of a year’s work of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments. The publication is available in print and online.