While Qatar remains a global leader in the production of oil and gas, its government is actively encouraging diversification of the market. The result is Qatar’s evolution from an exclusively industrial hub, to a location ripe with opportunity for new businesses and startups.
Looking for a territory offering exceptional growth potential? During the recent global economic crisis, Qatar was the fastest growing economy in the world. A testament to the stability and resilience of its markets. The country’s economic growth is certainly under no risk of waning in the near future too, having been earmarked to host the football World Cup in 2022, and thanks in no small part to the implementation of the Qatar National Vision for 2030. The latter is a government-driven diversification and growth-centred development plan, which is set to transform Qatar’s economic landscape by 2030.
Qatar is the UK’s third largest export market in the entire Middle East and North Africa region, with the total value of exports growing well in excess of 10%, year on year, since 2013. Major exports to the region include luxury goods, food and clothing, as well as machinery and cars. With a Qatar’s rapidly growing population, these markets are set to continue to grow, creating yet more opportunities for new businesses within its borders.