The emirate of Qatar has one of the fastest-growing and the most resilient economies globally. They are planning to spend a lot of their money in infrastructural development over the period leading to 2022 when they will be hosting FIFA World Cup. This opportunity is of great importance to local or new entrepreneurs and foreign companies in different fields such as construction companies, and transportation companies, tour companies among others.
The Infrastructure and Construction processes reach an unprecedented boom.
Infrastructure and construction is another area that has great potentialized by the fact that with more than $200 billion Qatar invested in infrastructure, construction World Cup related projects. Facilities such as construction of roads, racing tracks, hotels, metros and so on, cannot be constructed without help from leading international firms. Specifically, skills and knowledge in the sustainable building design and construction are scarce among the entrepreneurs.
This is the analytics behind logistics and transportation services.
The modernization of Qatar and an estimated 15 million international visitors on the back of the soccer World Cup has put pressure on growing transport needs. That is why any logistics and mobility focus, such as smart parking, car sharing and rental services, airport transfers and professional tour operations, has bright future.
Tourism and Hospitality Industry
The current size of travel and tourism industry in Qatar is still relatively small, yet by the year 2030 the country wants to see it quadruple in growth. As 5-star hotels, luxury resorts, fine dining restaurants, and international standard museums line up in the coming years, experts in the industry see a huge challenge in staffing this sector. Those who can offer hospitable personnel services and training, guides, DMC, and comparable services, have a chance.
Sports and Fitness Sector
Following the world cup, opportunities in this sector include; Sports education, coaching academy, health and fitness club, sporting goods manufacturing industries. One way of doing this is through the provision of modern standard sports sections and training in such favorite games as soccer, tennis, swimming, and golf.
Citizens of Qatar can obtain the best medical care, but growing tourism will create a need for new hospitals and clinics. It is quite convenient for the entrepreneurs to fill the gaps such as daycare centers for the elderly people, home care services, and rehabilitation services. There are also good prospects involved in creating new medical equipment and technologies for the differently abled.
Currently, Qatar is seeking a status of educational tourism hub in the region. Education technology, professional training services, language centers, and future investment and artificial intelligence concerned learning possibilities are promising with tod features and settings in Doha with cutting-age universities and academic institutions. The barriers to entry in this sector are relatively less than with other industries.
Food Production and Food Tech
Today, more than $090% of food consumed in the country is imported; however, Qatar is keen to boost its food production. Advanced technologies of green houses, hydro-ponic farming, aquaculture and other agri-techology that can fit the challenging Qatari environment are the right innovation. Beside offering fresh produce business prospects include; processed products such as halal meat, dairy products and canned foods.
For economic diversification, the Qatar government has put efforts into the country’s development such as, Qatar National Vision 2030 and the National Development Strategy 2018-2022. Since they mainly focus on Creating the Space in which SMEs can grow by eliminating barriers to private sector activity with regards to business regulation and access to financing. Over $200 billion is being put by the government in projects connected with the 2022 world cup.
Foreign investors can name 100 per cent of their companies in Qatar. Training and development expenses incurred in training Qatari nationals and giving employment to them, enjoy tax credit. They make Qatar develop suitable conditions for the entrepreneurial activities of foreign and domestic businesspeople.
Thus, the vast novel infrastructural developments and technological-driven economic diversification prospects give much exclusive opportunities in several domains of Qatar, including construction, tourism, transport, sports physical, healthcare, and education. Bureaucracy is, however, manageable hence aspiring entrepreneurs who are ready to work closely with bureaucracy will benefit from Qatar’s stable economy, non- existent taxes, and embracive attitude towards innovation given the country has been chosen to host the 2022 FIFA World Cup.