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The World Bank expects Qatar's real GDP growth to reach 2.8% in 2025, with public fiscal surpluses remaining strong.The World Bank's report, released on Thursday under the title "Digital Transformation in the Gulf: A Powerful Driver of Economic Diversification," states that non-oil sectors in Qatar have maintained their strength even amid declining oil and gas prices. It adds that the expansion of the North Field will drive a substantial increase in liquefied natural gas (LNG) production, further strengthening Qatar's role in meeting global market needs.The report highlights three key themes: the evolution of economic diversification indicators over the past decade; tracking macroeconomic developments; and spotlighting digital transformation, all against a backdrop of global uncertainty and oil market volatility.The report reviews the progress of economic diversification efforts across GCC countries over the past decade, noting moderate advancement, with some promising recent indicators. However, the report stresses that the oil sector still dominates, shaping economic conditions, development strategies, and national plans.Meanwhile, non-oil exports remain modest, with chemicals topping the list, indicating that the process of shifting away from oil dependence still requires sustained efforts.The report also highlights the rapid digital transformation underway in the Gulf and the accelerated adoption of artificial intelligence.GCC countries boast high-quality telecommunications networks, with over 90% 5G coverage and affordable high-speed Internet. Significant investments in data centres and high-performance computing are strengthening AI readiness.Progress is further supported by robust ecosystems of incentives, finance, and innovation, as well as the adoption of generative AI applications within government operations.Commenting on the findings, World Bank's Division Director for the GCC countries, Safaa El Tayeb El Kogali, stated that diversification and digital transformation are no longer luxuries; they are necessities for long-term economic stability and prosperity. Strategic investments in non-oil sectors and innovation will be essential for sustaining growth and economic resilience.She added that the digital leap achieved by GCC countries is remarkable. Strong infrastructure, growing computing capabilities, and expanding AI talent pools position the region for leadership and innovation, provided environmental and labour-market challenges are addressed proactively.The report also points out that women's participation in STEM fields in the Gulf exceeds the global average, boosting the region's digital competitiveness. To maximise the benefits of diversification and digital transformation, the Gulf Economic Update recommends supporting SMEs in adopting AI to strengthen the innovation landscape and implementing skills-training programmes to address labour-market gaps.The report stresses that regional co-operation in digital infrastructure and the creation of AI centres of excellence are crucial to building unified digital markets and driving transformation across the Middle East, North Africa, Afghanistan, and Pakistan. 

Reem Mohammed al-Mansoori, who serves as Assistant Undersecretary for Digital Community Development at the Ministry of Communications and Information Technology, affirmed that the digital economy represents the future of growth, and that the State of Qatar is working to diversify its economy and enhance the contribution of the ICT sector to GDP, in line with Qatar National Vision 2030.Speaking during a session on designing the experiences economy at the MWC25 Conference in Doha, al-Mansoori said that the national digital transformation strategy for the next five years has set a clear target of having the ICT sector contribute 4 percent to GDP growth. She noted that the national digital agenda has laid the foundation for achieving an experience economy and creating a new generation of services based on data and artificial intelligence.She highlighted that Qatar has given high priority to AI technologies, launching a national strategy to build an infrastructure for sovereign AI, in addition to developing smart services across key sectors. She pointed to the completion of digital transformation roadmaps in infrastructure, tourism, healthcare, transportation, and logistics.Al-Mansoori added that the State of Qatar has successfully developed a highly advanced national digital platform based on cloud infrastructure, after attracting global cloud providers such as Google and Microsoft to establish data centres capable of supporting various sectors and enabling them to deliver digital solutions more quickly and efficiently.Regarding the sports sector, the Assistant Undersecretary explained that it was among the priority sectors for digital transformation in recent years. The ministry worked with partners to develop an integrated digital ecosystem that contributed to the success of the fan experience during the FIFA World Cup Qatar 2022, through visitor-tracking systems, smart guidance applications, and fan engagement platforms.She said that the digital legacy of the World Cup has been capitalised on and developed within the tourism strategy, which aims to attract 6mn visitors annually and achieve QR34bn in tourism spending by 2030.She noted that the State of Qatar is redesigning its tourism-service ecosystem to deliver a comprehensive and innovative experience for visitors and residents, within the framework of the experience economy.On the development of digital skills, she underlined that the biggest global challenge lies in attracting talent. She noted that the Digital Agenda 2030 aims to create 26,000 new jobs in the digital economy, which requires collaboration with the education ecosystem, talent reskilling, and the launch of new programmes to attract specialists, including the recently announced digital-talent visa.In concluding her remarks al-Mansoori stressed that economic prosperity is the true measure of digital transformation success. She emphasised that every technological project or investment in the country must contribute to improving quality of life, supporting economic growth, and achieving Qatar’s long-term vision.

Qatar’s economic rebalancing towards consumer-facing and productivity enhancing sectors has "reshaped" employment landscape, leading to its realty sector become demand-driven rather than project-led, according to Knight Frank, an international independent property consultancy.While construction remains an important component of GDP (gross domestic product), its share has gradually declined from 13.4% in 2021 to 11.3% in 2024, as other sectors have gained in prominence, it said in a latest report. Output in accommodation and food services, arts and recreation, logistics, and real estate has expanded sharply since 2022, reflecting "Qatar’s successful effort to rebalance economic activity towards consumer-facing and productivity enhancing sectors", it said.This reorientation is also reshaping the employment landscape, with a growing proportion of jobs emerging in tourism, logistics, and digital services, according to Knight Frank. "As a result, the underlying fundamentals supporting the real estate market, from retail and hospitality to residential and commercial space, are becoming increasingly demand-driven rather than project-led," the report said.Frank highlighted that Qatar’s economic outlook remains "positive", underpinned by strong macroeconomic fundamentals, an expanding population, and a clear policy agenda centred on diversification and sustainability.Population growth is reinforcing domestic demand, it said, adding the number of residents aged 15 years and older has grown at a CAGR (compound annual growth rate) of 3.1% between 2022 and 2024, against just 0.9% in the preceding six years. "This expansion, combined with new long-term residency schemes such as the Mustaqel five-year visa, is fostering greater residential stability and supporting housing demand, particularly among skilled expatriates and entrepreneurs," it said.The continued execution of third National Development Strategy (2024–30) is expected to accelerate private sector participation, unlock new growth clusters in logistics, tourism, and digital services, and sustain long-term investor confidence, it said. "For the real estate sector, these dynamics translate into a supportive operating environment, steady demand for residential and hospitality assets, growing interest in industrial and logistics space, and a pipeline of mixed use projects, aligned with Qatar’s urban and economic transformation agenda," it said. Finding that strong fiscal management remains a cornerstone of Qatar’s resilience story; it said despite lower hydrocarbon prices in 2025, the government’s fiscal position remains comfortably above breakeven levels, with the IMF (International Monetary Fund) estimating a fiscal breakeven oil-equivalent price of $44.7 per barrel.Public debt has fallen from 72.6% of GDP in 2020 to 40.8% in 2024, and is projected to decline further by the end of 2025, reflecting pragmatic budgetary control and effective debt servicing strategies.

The gross domestic product (GDP) of Gulf Cooperation Council (GCC) countries at current prices reached $588.1 billion at the end of the first quarter of 2025, compared with $570.9 billion in the same period of 2024, reflecting a 3% annual increase, according to data issued by the GCC Statistical Center (GCC-Stat). The statistics indicated that non-oil activities contributed 73.2% to the GCC's GDP at current prices by the end of the first quarter of 2025, while oil activities accounted for 26.8%. At constant prices, the GCC's GDP recorded marginal quarterly growth of 0.1% in the first quarter of 2025, compared with $587.8 billion in the fourth quarter of 2024. The figures highlight the region's continued progress in diversifying its economic base, supported by sustained expansion in non-oil sectors across member states.

Qatar's GDP (gross domestic product) growth is seen nearly doubling to 4.8% in 2026 on "significant" liquefied natural gas (LNG) output through North Field expansion, boosting fiscal surpluses and supporting business optimism, according to the Institute of Chartered Accountants of England and Wales (ICAEW)."We project Qatar’s GDP growth at 2.7% for this year and 4.8% for 2026," said the ICAEW Economic Insight Q3 2025 report, produced by Oxford Economics.Industrial output data for the second quarter or Q2 showed a 2.4% year-on-year growth, spurred by stronger mining production, although this comes off a low base from last year, said the economic update.The July report from the Gas Exporting Countries Forum showed LNG production trends are supportive of exports and "we think activity will improve in the remainder of the year, before surging in 2026 as planned projects are completed."Qatar targets LNG capacity target of 142mn tonnes per annum (Mtpa) by end-2030; up nearly 85% from the current 77 Mtpa, and up 13% on the intermediate target of 126 Mtpa by 2027.The first production boost will come from the North Field East project by mid-2026, followed by the North Field South phase of the expansion. The North Field West phase is in its early stages, with construction likely to begin in 2027.The expansion of the North Field gas project means the energy sector will play a more prominent role in the next five years, boosting the government's ability to support the economy, according to the update."We expect Qatar to run a budget surplus of QR14.1bn (1.7% of GDP) this year and see the surplus more than tripling in 2026, thanks to the LNG production boost," ICAEW said.This is despite a cumulative deficit of QR1.3bn in the first half (H1), 2025; reflecting a rise in public spending against the backdrop of hydrocarbon revenue headwinds, it said.Businesses remain optimistic about the outlook despite uncertainty over demand and recent PMI (purchasing managers’ index) prints have held above the H1 average of 51.1, owing to ongoing labour market strength,"We continue to project an expansion of 3.6% in the non-energy economy this year and expect a similar pace of growth in 2026," it said.The outlook continues to benefit from improvements in the regulatory framework and business environment, which have helped elevate the country's competitiveness ranking by two places to ninth globally in the latest IMD competitiveness index.Forecasting Qatar’s inflation to average 0.4% this year but set to rise above 2% in 2026; it said Qatar has the second-lowest rate of inflation in the Gulf Co-operation Council (GCC) region, behind that of Bahrain. Food and communication are the key drivers of Qatar’s inflation, it said.Finding that prices are lower than last year across most of the CPI (consumer price index) basket, though the drag from the housing and utilities category "is easing, albeit remaining substantial", it said "we expect the impact of these disinflationary forces to gradually fade over time."With the US Federal Reserve resuming interest rate cuts in September and pencilling in a cumulative reduction of 125 basis points by end-2026, it said Qatar Central Bank is slated to follow suit, which will support credit expansion and spending.

Universal healthcare coverage for all citizens is a challenge for all governments. The better the treatment and freer the access, the longer the waiting lists. There is invariably a case of finite resources trying to meet demand that is effectively infinite, or at least inexorably rising. Healthcare inflation has outstripped general inflation, reaching 10-12% in many countries, and people’s expectations of both availability of health services and the standard of care rise. Also, increased life expectancy can mean that people are living longer, but sometimes with chronic conditions. Qatar is pursuing a smart policy of boosting private sector healthcare and health tourism while maintaining universal coverage. Can it square the circle of combining quality and accessibility? So the approach of Qatar merits attention. Health is a national priority beneath the Qatar Vision framework. State provision is of a high standard, through the Hamad Medical Corporation. The HMC runs the country’s principal not-for-profit hospital, the Hamad General Hospital, which is to be the subject of a major three-year renovation programme. While services will remain open during the refurbishment, some outpatient and inpatient services will be relocated. Renovation will include upgrading buildings for inpatients. There will be single rooms, higher standard facilities and investment in new technology. During the renovation, Ministers have perceived an opportunity to maintain or enhance health services for citizens and expats, while boosting the private sector and developing health tourism. In May HE the Minister of Public Health Mansoor bin Ebrahim al-Mahmoud met representatives of the insurance sector, as part of a policy to encourage the development of health insurance. In 2013-2015 the Government set up a state-run insurance scheme called SEHA, but there were problems with costs and over-claiming, subsequently it perceives partnership with private insurance providers as a superior approach. Meanwhile, the Government has signed contracts with four private sector hospitals to provide treatment for uninsured patients on public hospital waiting lists. The state will pick up the cost in full. This reduces waiting lists while helping to develop private sector provision, in terms of both quality and scale. An additional advantage in developing a strong private medical sector is to make Qatar a favoured destination for health tourism. This was confirmed at the Qatar Economic Forum 2025, held in May, where HE Saad bin Ali al-Kharji, the Chairman of Qatar Tourism, said that positioning Qatar as a destination for health tourists was a strategic aim. Major investment in hotels, transport facilities and other key aspects of infrastructure in preparation for the FIFA World Cup in 2022 means that facilities in the country are world class. In addition, there is a high-quality, well-regarded national airline. Private sector hospitals have high-standard facilities and highly skilled doctors, helped by a favourable visa programme. Health spending has reached 12% of the national budget, which is high by international standards. There is investment in technology, including specialist AI applications that can help with diagnosis and treatment. Qatar is preparing a medical visa programme, to smooth the bureaucracy for a health tourist visitor. Omar al-Jaber, head of the Tourism Development Sector at Visit Qatar, has stated that this measure will encourage visitors for wellness and preventative treatments at resorts, as well as advanced medical procedures such as surgical operations. All the elements are in place for Qatar to compete directly with other nations that attract health tourists, such as Singapore, Dubai and Thailand. This sector is long-established globally, and has become diversified to include wellness destination and places for recuperation. Qatar now hosts a centre, the Zulal Wellness Resort, run by the Chiva-Som branded wellness retreat, established in Thailand 30 years ago. In terms of tourism, Qatar has been successful in attracting visitors for stopover tours, helped by the high reputation of Qatar Airways and the geographical location of the Gulf in between major continents. Health tourism and wellness stays would typically be longer than the four or five days of a stopover visit. Attention has been paid to every aspect of a tourist’s visit: transport infrastructure, quality of hotels, friendliness of welcome, cleanliness of resorts, personal security and quality of attractions. There is a target for the Qatar state to attract 6mn-7mn visitors by 2030, with tourism reaching 15% of GDP. Helped by investment in healthcare as well as infrastructure for vacation visits, this is looking like a feasible target. The author is a Qatari banker, with many years of experience in the banking sector in senior positions.

Qatar’s GDP growth will more than double in 2026-2027, with both the energy and non-energy sectors contributing positively this year and beyond, according to Oxford Economics.The researcher’s 2025 GDP growth forecast is unchanged at 2.4%, similar to the pace of expansion last year. However, trade-related uncertainty will remain a headwind to global demand, it said in a country report.Oxford Economics thinks growth in Qatar’s energy sector will remain modest this year, following a 0.6% expansion in 2024, before picking up strongly in 2026-2027.According to Oxford Economics, Qatar isn't involved in the OPEC+ pact on production quotas and its oil output has been relatively flat in recent years, at around 600,000 barrels per day.Last year, the authorities doubled down on the North Field gas expansion project, which will have a positive medium-term impact. Qatar raised its liquefied natural gas capacity target to 142mn tonnes per year by end-2030.This is up nearly 85% from the current 77mtpy, and up 13% on the intermediate target of 126mtpy by 2027. The first production boost will come from the North Field East project by mid-2026, followed by the North Field South phase of the expansion.The North Field West phase is in its early stages, with construction likely to begin in 2027.Qatar is also making progress in contracting future gas output. The government has signed long-term supply contracts with India, China, France, Germany, Hungary, Kuwait, and Taiwan, and is negotiating a deal with Japan.Output data (reported in April this year) showed the non-energy economy expanded by 3.4% last year, and the researcher projects the same pace of growth in 2025.The 2025 budget targets a deficit of QR13.2bn (1.6% of projected GDP). The authorities plan to raise spending by 4.6% relative to last year's budget and 1.2% relative to realised expenditure, with a strong focus on development in education and healthcare. The bill assumes an average oil price of $60/barrel.It projects a surplus of QR23bn (2.8% of GDP), larger than the surplus of QAR5.6bn (0.7% of GDP) realised in 2024. The researcher sees the balance improving to 5.7% of GDP next year amid the LNG production boost.Oxford Economics also noted tourism has provided significant support to non- energy growth and will remain a driver of future activity and employment.Qatar welcomed 5.1mn overnight arrivals in 2024, a 25% increase on 2023 and 138% higher than 2019 levels. The launch of the pan-GCC visa will likely help extend the positive performance and we forecast arrivals to increase to 5.3mn this year, it said.