Lucintel Analysis: Government’s Effort to Transform Qatar to Knowledge-Based Economy to Pay Dividends
Qatar is likely to make rapid strides in non-hydrocarbon and service sectors over the years and the economy is estimated to grow to $275.5 billion at the current price by 2018, with a high growth rate during 2013 to 2018.The Government’s goal to transform Qatar from a carbon-based economy to a knowledge-based one “by unlocking human potential” by increasing investments in service sector is expected to offer immense opportunities for investment and growth.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the political, economic, social, technological, legal and environmental risks of the country and presents its findings in “PESTLE Analysis of Qatar 2013.” This report gives the insightful SWOT analysis of Qatar, thus helping the investors to easily understand the strengths, weakness, opportunities, and threats of Qatar economy.
As per the study, non-hydrocarbon sector will witness increase in its contribution to GDP during 2013-2018. Lucintel estimates economic growth of Qatar to regain its strength gradually. To maintain the GDP growth Qatar is significantly expanding the non-hydrocarbon sector, by spending in excess of $140 billion over a coming decade. The fund of $65 billion from this will be spent by the government on infrastructure investment and manufacturing sector. Infrastructure basically includes development spending of World Cup 2022 and manufacturing sector will drive non-oil sector growth alongside financial services, trade and tourism.
Qatar is likely to face many challenges in its quest to achieve growth and competitive edge of the economy and demographic developments, but on the other hand, the country has made optimum utilization of resources and increased their trade with the European countries. The leading manufacturer and exporter of oil and natural gas Qatar is likely to grow at a faster pace in the upcoming years after recovery from Euro crisis. The country has low risk in terms of political, economic, social, and technological aspects.
This report will be helpful for strategic analysis done by CEO, managers, bankers, industrialist who wants to know about political social and economic outlook of Qatar. This report will also benefit those who want to invest in Qatar. This report will help the reader to understand the economic strengths and risks involved in Qatar.
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