Doha, Qatar: PwC Middle East’s latest Qatar Economy Watch, released recently, reveals a sustained confidence in Qatar’s economic growth, attributed to the nation’s diversification strategy and investments aimed at transforming the nation into a knowledge-based economy. The report indicates that this has led to fiscal resilience and innovation amidst global challenges.
As Qatar advances with its third National Development Strategy (NDS-3), the International Monetary Fund (IMF) forecasts a favourable growth outlook for the country in 2024.
PwC Middle East in Qatar has identified four important sectors driving Qatar’s transformation journey: clean energy, logistics, tourism and sports, and artificial intelligence, each of which offers the country a significant competitive edge on a regional and global scale as outlined below:
Bassam Hajhamad, Qatar Country Senior Partner and Consulting Lead at PwC Middle East, commented on the report findings: “Qatar has consistently displayed resilience amidst global inflation and macroeconomic challenges. This can be credited to long-term diversification strategies and investments in future-focused sectors. The next wave of growth will be enabled by accelerating the national transformation journey, implementing high-impact sectoral strategies and governance, guided by NDS-3, and building new capabilities and global partnerships. We see immense potential for Qatar to continue benefiting from advancements in areas, such as renewables and green hydrogen, logistics, tourism and sports, and AI, which will allow it to further cement its position as a global hub for sustainability and innovation.”
The report further highlights five critical cross-sectoral enablers that underpin the four critical sectors.
