Qatar

Qatar is having marked success in broadening the scope of its tourism industry, attracting an increasing number of business visitors along with a rising tide of tourists coming to enjoy the country’s long list of scheduled events.

Clocking the world’s highest growth rate in 2011, Qatar is maintaining expansion despite a difficult international economic climate clouded by the eurozone crisis and doubts over the sustainability of US debt. Indeed, the country saw GDP growth of 14% in inflation-adjusted terms last year, with energy exports its leading economic driver.

The country’s banks are turning to the international bond market to bolster their cash reserves, which are likely to be needed to help fund the country’s massive infrastructure programme over the coming decade.

Seizing opportunities to build its position as a global centre for ICT, Qatar is focusing on niche markets where there is currently a lack of content and services.

As the overall economy continues to pick up steam, Qatar’s insurance sector looks set to benefit greatly, with strong growth and profits predicted for 2012 and beyond. However, for the sector to truly grow, the industry is conscious that it needs to encourage greater uptake of policies.

Home to the region’s second-largest airline and with a new airport due to open shortly, Qatar is setting its sights on becoming an international leader in air transport. Qatar Airways now serves more than 100 destinations worldwide and is becoming a key player in linking the Middle East to Europe, Africa, Asia and beyond.