Key View

• At Fitch Solutions, we believe the Qatar 2022 FIFA World Cup will boost the GCC’s tourism sector and provide a tailwind for long-term growth in the industry.
• We see lasting benefits to the GCC’s global cultural and political influence after the World Cup ends.
• A failure to host a successful World Cup poses a risk to our view, and

Key View

• At Fitch Solutions, we believe that the hosting of the FIFA World Cup tournament will have a net positive impact on Qatar’s economy in Q422.
• We believe that the tournament will boost growth in Q422 through higher services exports, an uptick in consumption and increased government spending.
• The tournament will also have some negative

Key View

• At Fitch Solutions, we expect that the Qatar Central Bank of Qatar (QCB) will hike its benchmark policy rate alongside the US Federal Reserve in Q422.
• This will help maintain the currency peg between the US dollar and Qatari riyal and stave off inflation, which we now forecast will accelerate from 2.3% in 2021 to 5.1% in 2022.
• In

Key View

• At Fitch Solutions, we project that Qatar’s real GDP growth will decelerate from 4.6% in 2022 to 2.8% in 2023 amid a broad slowdown in the non-oil economy.
• Gross fixed capital formation will continue to be the leading driver of economic growth due to stronger investment activity, especially in the country’s LNG infrastructure.
• While

Key View

• Development of Qatar's fintech market has been hindered by the government's reluctance to properly regulate the industry for fear of undermining local banks.
• As evolution of the industry has taken off elsewhere in MENA, Qatar has been left to play catch up. The recent regulation and licencing of Payment Service Provider firms and the

Key View

• We at Fitch Solutions expect that Qatar’s current account surplus will widen from 14.3% of GDP in 2021 to 21.4% of GDP in 2022, slightly above our previous forecast of 20.8%.
• The large surplus will be mostly driven by elevated global oil and natural gas revenues, paired with higher services exports during the FIFA World Cup in

Key View

• Qatar's infrastructure competitive landscape sees domestic contractors undertake a substantial proportion of construction roles across project activity, though South Korean, Japanese and UAE-based contractors each maintain a presence in the market. The potential for joint ventures between domestic and foreign entities provides a

Key View

• We forecast real household spending growth in Qatar to accelerate in 2022 when compared to 2021 as economic activity increases. That said, we note that real household spending is growing from a low base following a sharp contraction in 2020 due to the negative impact of the Covid-19 pandemic.
• Growth in household spending will also be

Key View

• Qatar’s Energy Minister has confirmed Qatar will be unable to significantly alleviate Europe’s energy crisis, in the wake of aggravated Russia-Ukraine tensions.
• The majority of Qatar’s LNG deliveries are tied up in medium- or long-term contracts with buyers located in Asia, meaning Qatar is unable to quickly divert LNG supplies to

Key View

• At Fitch Solutions, we expect that Qatar’s current account surplus will widen from an estimated 12.7% of GDP in 2021 to 13.0% of GDP in 2022, the largest surplus since 2014.
• The widening will come mainly from a narrower services trade deficit, as the FIFA World Cup will boost tourism revenues, and higher hydrocarbon exports.
• Qatar’s