PwC Middle East launched the latest edition of its Qatar Economy Watch report 2023, which highlights several opportunities for Qatar to build on the momentum of the FIFA World Cup to drive continued success in the future.  

Qatar has experienced a decade of rapid transformational change that resulted in the success of the FIFA World Cup. The PwC Qatar Economy Watch 2023 report suggests that Qatar is well-placed to capitalise on the investments and legacy of the FIFA World Cup to accelerate its national transformation journey, ensure sustainable economic growth, and continue to build a knowledge-based economy while improving the overall quality of life.

The report looks at the economic outlook of Qatar and some of the key social and economic priorities for the country, across key sectors. These include efforts to sustain economic growth and diversification, increase FDI and localisation of industries, and expand private sector participation. The Qatar Economy Watch report 2023 suggests that it will be important for Qatar to attract and retain skilled talent and tap into the FIFA World Cup’s tangible and intangible legacies.

Higher energy prices and increased demand for alternative natural gas supply to Western Europe will continue to propel the country’s development, the report shows that the coming year will be an important one for Qatar, as the government lays out the final phase of its National Development Strategy (NDS3) on the path to achieving the goals of the Qatar National Vision (QNV) 2030.

Bassam Hajhamad, Country Senior Partner, PwC Qatar said: “Qatar has done well in advancing its economy in the past years despite unique circumstances, with a clear vision and action plan. However, global, regional, and local dynamics will create more need to advance Qatar’s national transformation journey, linked to clear national targets and sector KPIs.”

He added: “Qatar economic growth and diversification will continue to improve its favorability as an investment destination. We believe that the National Development Strategy (NDS3) will play a catalyst role in activating these priorities and ensuring all relevant entities are properly enabled to achieve national aspirations.”