Qatar is a country in the Middle East. It has an economy backed by the world’s third largest reserves in natural gas reserves and oil. It is a monarchical state. The import market in Qatar is approximately 28.79% of its GDP; a large market for exporters. Qatar stands 45th in world with respect to ease of doing business.
Qatar’s booming economy is largely driven by its impressive oil and gas sectors. with petrochemicals and fertilisers forming a large portion of its industrial base. This development in the country’s industry is further supported by one of its largest project due for completion this year, 2015, boasting a capacity of 50 million passengers, the New Doha International Airport.
Qatar's Vital Points (as of 2014)
|GDP (billion USD)||212|
|GDP per capita (USD)||97,519|
|GDP per capita PPP (USD)||146,178|
|Purchasing power per dollar, compared to the USA||150%|
|Surface area (sq km)||11,610|
|% of population living in urban areas||99%|
|% of GDP added by agriculture - industry - services||not available for 2014|
|Ease of doing business index (1 = best, 189 = lowest)||50|
What are the business opportunities in Qatar?
The most promising business sectors in Qatar are:
- Liquefied natural gas
- Crude oil production and refining
What are Qatar’s top export commodities?
- Liquefied natural gas (LNG)
- Petroleum products
Which are Qatar’s favourite export partners? (percentage of total exports)
- Japan (25.3%)
- South Korea (18.8%)
- India (12.7%)
- China (7.7%)
- Singapore (6.2%)
Qatar- Host to 2022 FIFA World Cup
In line with Qatar’s National Vision for 2030, are its development plans for the FIFA World Cup to be held in Doha in 2022.
The Qatari government has allocated over US$200 billion in building and upgrading facilities and infrastructure for this world class sporting event. Preparation for the World Cup will impact housing, rail, port and road systems in the country, providing ample business opportunities for local and international players.
Qatari Political Make Up
Qatar has an Emirate government in which the Prime Minister and Deputy Prime Minister are appointed by the Amir or Head of State. The monarchical head however is hierarchical and above all. Political parties are banned in the Qatari government system.
Qatari National Holidays for 2016
Most Qatari schools, colleges, institutes and organisations will not be operational on the following days:
|New Year’s Day (Bank Holiday)||January 1|
|National Sports Day||February 8|
|March Bank Holiday||March 6|
|Eid-Al-Fitr||July 7, 8, 9|
|National Day||December 18|
Qatar can be an attractive destination for international businesses due to its impressive economical status.
In doing Qatar international business, however, detailed market research will help you understand the country and formulate your international entry and expansion strategy.