EY’s Qatar Investment Outlook Pulse 2022 showcases sentiment from business leaders
Doha, Qatar: Qatar’s leaders remain optimistic about the country’s long-term prospects, with around 82% expecting economic expansion over the next five years to be equivalent to or higher than expected, according to the most recent findings from EY’s Qatar Investment Outlook Pulse 2022.
The report is about lengthy one-on-one conversations, from the fourth quarter of 2021 to the first quarter of 2022, with executives making decisions from Qatar’s largest companies.
The country’s GDP is expected to reach QAR 764 billion this year, a significant accumulation of the QAR 525. 7 billion reported in 2020, when the country was under the clutches of the COVID-19 pandemic. Oil, fuel and customer have the maximum positive. sentiments, with 64% and 45% of respondents expecting sectors to outperform the overall economy in the next five years, respectively.
Ammar Sudki Hattab, market leader of Qatar country, EY, said: “Qatar has demonstrated wonderful resilience in the face of many demanding situations and has resolutely navigated regional and global events, especially the Covid-19 pandemic, which has been presented through an effective agile vaccination strategy and programme. This has instilled wonderful confidence in executives and investors, despite headwinds in the global economy, with optimism around the promise of more opportunities across the country.
About 55% of the respondents had pessimistic emotions about the expansion of the infrastructure sector, especially since most of the megaprojects will be finished or almost finished in the next few months. the progression of the Lusail City project, may alleviate some of the considerations surrounding the outlook for the sector.
Nearly 60% of executives surveyed indicated that their investments have been controlled to generate positive returns over the past 12 months (Q3/Q4 2020 to Q3/Q4 2021), during an era still marked by restrictions imposed by the COVID-19 pandemic, indicating that business and customer activities in the country have been largely resilient.
Despite geopolitical crises outside the region and emerging inflation, Qatar’s leaders remain very positive about investment returns over the next 12 months. The report found that 91% of them indicated that they expect the return on their investments compared to the past. Functionality of the Year.
About 64% of executives surveyed imply some difficulty accessing capital. However, recent projects imply that regulators are taking steps to access capital, such as with the launch of the Qatar Venture Market, aimed at expanding access to capital for SMEs. In addition, Qatar Fintech Hub was presented as a component of a broader strategy for innovation and access to capital within Qatar’s economy.
The report found that 82 percent of executives surveyed believe that hosting today’s prestigious football event would have a “strong” to “very strong” effect on turning Qatar’s trust into a global tourist hub, ultimately resulting in a step forward. tourist flows and expenses.
While 55% indicated that they had invested in particular projects to capitalize on the opportunities presented through the football event. Half of those investments went to tourism, hotels and real estate.
The prestigious football event, the start of the North Field South (NFS) expansion, the awarding of the 2030 Asian Games and the national strategic goal of diversifying the economy away from hydrocarbons have attracted the attention of foreign investors and resulted in Qatar’s location. as an investment destination of choice.
Ammar concludes: “There is no doubt that the ongoing football event will have a positive effect on the country’s economy. But what’s just as good to see is the optimism of the key leaders for the final whistle and the legacy the tournament will leave. “leave for the country. The strong sense of investment bodes well for the future.
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