Qatar Non-Hydrocarbon Sector to be Worth Half of Qatar GDP by 2015.
QNB Group Economists: ‘Non-Hydrocarbon Sector’ Infrastructure Investments Are Driving Double-Digit Growth.
Future Development in Focus at The Euromoney Qatar Conference.
Qatar’s real GDP is expected to grow by 6.5 percent in 2013 and 6.8 percent in 2014.
Qatar will be adding 240,000 jobs to the economy by 2014.
Qatar’s rapidly diversifying economy is reaching a key milestone, with the non-hydrocarbon sector worth more than half of the country’s GDP — by 2015, said top economists in the runup to a major financial conference in Doha next week.
In 2012, Qatar’s GDP was USD 192 billion, with the hydrocarbon (oil and gas) sector accounting for 58 percent, according to a recent report from QNB Group.
Qatar Non-Hydrocarbon Sector to Hit +50% by 2015.
Driven by infrastructure megaprojects for the upcoming FIFA World Cup 2022, Qatar’s non-hydrocarbon sector is slated to grow from 42 percent in 2012 to more than 50 percent by 2015, per QNB Group.
Qatar’s real GDP is expected to grow by 6.5 percent in 2013 and 6.8 percent in 2014, with Qatar adding 240,000 jobs by 2014.
Joannes Mongardini; “The Qatar economy is booming and entering a new phase of economic growth predicated on diversifying its economy away from the traditional gas and oil sector, the so-called hydrocarbon sector. Large investments in construction, transport, real estate and petrochemical sectors will result in double-digit growth of the non-hydrocarbon sector over the next few years.” –– Joannes Mongardini, Head of Economics, QNB Group
The Economics Team at QNB Group has an in-depth understanding of Qatar’s financial landscape, and will be heavily represented at the Euromoney Qatar Conference, held from 10-11 December 2013 at The Ritz-Carlton in Doha.
QNB Group named ‘World’s Strongest Bank’ by Bloomberg Markets.
QNB Group is the country’s first Qatari-owned commercial bank, and the “World’s Strongest Bank,” according to Bloomberg Markets. It is also the GCC’s fastest-growing bank and the largest bank in MENA.
QNB Group’s positive outlook on Qatar’s financial future is shared by many international firms attending the Euromoney Qatar Conference, where they will influence the new generation of key financial players from the GCC and beyond.
Euromoney Qatar Conference delegates will be able to gain further insights into how Qatar’s evolving governmental structure and new regulations affect the economy, and for predictions on the path of the country’s financial future.
Qatar named Most Competitive Middle Eastern Economy by the World Economic Forum.
Qatar is one of the most talked-about countries in the financial sector, as the country was recently named the Middle East’s most competitive by the World Economic Forum, and Qatar will be upgraded from Frontier market to Emerging market status by MSCI in May 2014.
Joannes Mongardini; “While the government clearly has a key role to play in infrastructure development, other sectors are mostly going to benefit from private sector investments. We would also expect small and medium-sized enterprises — such as hotels, medical services, retail, and restaurants – to flourish in order to cater to the growing population.”–– Joannes Mongardini, Head of Economics, QNB Group
To register, or for more information, visit www.euromoneyconferences.com/qatar.