Indeed, Qatar is the country of riches. Not just because it stands tall with the highest per-capita income on the globe, but due to the sheer rigidity and resilience it has shown, in spite of the dipping oil prices during 2015. Talk about the burgeoning banking sector or the ‘building boom’ taking Qatari real estate to a different level altogether.
Leaving all this aside, the vibrancy shown by various Qatari corporations in terms of talent acquisition, itself tells about the how dynamic the economy has been and how strong will it stand during the long lying year ahead. Shared below is an insight into the same. Give it a good read and avail all career opportunities coming your way from Qatari employers.
Continued Commitment to a Sustainable Growth Model
It goes without saying, but the regime’s budget for 2016 clearly indicates towards the dynamism in economy, be it any field one talks about. A figure as high as QR 90.8 billion is set aside, to be invested in all major projects in the country. However, the major areas of expected growth will be led by infrastructure, healthcare and the education sphere.
Going in line with the Qatar National Vision 2030, education is one of the building blocks that would drive investments and revenue in every sector nearly. Moreover, healthcare services are one of the prime concerns of any professional looking forward to relocate to this part of the world. Having invested a sum as big as QR 20.9 billion, there are numerous ways this sector can proliferate to substantiate the conomy7 in every way possible.
Growth in GDP and the Banking Sector
Having forecasted efficient growth rates that touch the skyline of 5.4% and 5.1% during 2016 and 2017 respectively, the country has immense it holds on to while moving deep into the soon-to-begin fiscal year 2016-17.Undoubtedly, the non-hydrocarbon sector is to remain a major determinant of the growth in job roles and various Qatari corporations, eagerly looking forward to huge sums of foreign investments.
Taking things to the fiscal side, the cases of future spending is to be rationalized throughout the country by 2017. The current spending is to take a downhill, however, the capital spending will take a steep rise in a number of projects. This is mainly due to the fact that the previous below-budget projects have been delayed time and again because of various capacity and time constraints. While the credit growth by be dipping down to the lows in hydrocarbon and the public sector, the private sector is all set to enjoy a golden era in Qatar. Having seen a 22% Y-o-Y growth in December 2015, the banks are persistent with their efforts to increase credit limits for booming spheres like retail, real estate, education and various SMEs.
Project Qatar to Drive Further Growth
While the ‘building boom’ might be taking all the limelight in Qatar, Project Qatar is all set to materialize from 9th-12th May, 2016. Being conceptualized over 10 years ago, it will serve to be a key event to bring together all major construction and real estate players around the globe. Being the 13th International Construction Technology and Building Materials Exhibition, it seeks to entice all key industry leaders and buyers to share technology and state-of-the-art equipment that makes construction of projects real swift in terms of efficiency. All major projects in the multi-billion dollar Qatari real estate sphere would be highlighted and discussed for maximum exposure and networking with premier agents and distributors in the region.