Although growth has slowed following a banner year in 2014, Qatar’s construction industry remains one of the most vibrant and fast expanding in the Middle East, and a key driver of non-oil growth. Major infrastructure projects including the Doha Metro, Long Distance Rail, Hamad Port, the next phase of expansion at Hamad International Airport (HIA), and a network of new roads and drainage...
Transport upgrades are leading construction industry growth in Qatar, following rapid expansion and billions of dollars worth of new contracts awarded in recent years. The 2022 FIFA World Cup has created an impetus to finish a number of critical transport projects on time, including thousands of kilometers of road and expressway upgrades and construction, the new Hamad Port and a major three-...
Though chiefly known for its success in the oil and gas sector, Qatar is also home to a number of non-hydrocarbons industries that are playing an increasingly important role in the economy, particularly in light of the government’s broader plans for greater diversification. According to the Ministry of Development Planning and Statistics (MDPS), the non-hydrocarbon sector accounted for all GDP...
As Qatar’s population and economy have expanded in recent years, demand for utilities has also been increasing rapidly. Power and water consumption have recorded average growth rates of 10.4% and 7.7% a year, respectively, over the last half-decade, according to the country’s main utilities authority, the Qatar General Electricity and Water Corporation (Kahramaa). Such growth has prompted the...
The year 2015 was a challenging one for Qatar’s oil and gas industry. The state saw its hydrocarbons revenues, which account for a significant portion of its income, significantly impacted as an ongoing global oil price plummet accelerated, with crude oil losing over two-thirds of its value between June 2014 and January 2016. The price slump extended into 2016, driven by soaring global...
In recent years Qatar’s insurance sector has expanded swiftly on the back of government spending, economic development and a steadily increasing awareness of the benefits of coverage. Between 2005 and the end of 2015 the industry posted a compound annual growth rate (CAGR) of 21%, according to data from Moody’s. By the end of 2014 Qatar was the third-largest insurance market in the region,...
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