Qatar

Like many of its neighbours in the Gulf, Qatar has seen the negative effects of the international economic downturn begin to fade over the past year. In the coming decade the local real estate market is expected to benefit from massive government infrastructure spending, a steadily expanding population and preparations for the 2022 World Cup.

Qatar looks set to retain its position as the world’s fastest-growing economy this year, with the country’s core sectors performing strongly and diversification continuing apace. While many economies worldwide are still sluggish, or face the prospect of slipping back into recession, Qatar is expected to see 21% real growth in 2011, according to a recent report by Doha-based financial institution QNB Capital.

International ratings agencies and analysts have given Qatar’s banking sector a clean bill of health, though the central bank is keeping an eye on non-performing loans (NPLs), as well as monitoring inflationary pressure.

Since the Supreme Education Council (SEC) was established in 2002 as a regulatory body, Qatar’s education framework has been completely reworked and updated – indeed, the sector has undergone a complete transformation.

After several years of substantial economic expansion, Qatar was recently named the wealthiest nation in the world in terms of GDP per capita. However, with many of the oil and gas related projects nearing fruition, focus is turning to manufacturing and other non-hydrocarbons businesses and the role they will play in the local economy.

Having emerged as one of the most resilient financial markets in the region in the wake of the international economic downturn of 2008-09, Qatar is working to further boost its profile. The government has made a concerted effort to expand the country’s asset management industry, in particular, to meet steadily expanding global demand for local and regional funds.