• 1000

Qatar's CEOs exhibit strong optimism for their organizations' and industries' growth over the next three years, surpassing global counterparts with 80% confidence. Their focus is on organic growth, digitization, and inflation-proofing. However, they show less optimism for national and global economic growth, indicating prudence. Top risks include disruptive technology, cybersecurity, and regulatory concerns, differing from global CEOs who prioritise geopolitics and operational issues. This reflects Qatar's unique strategic focus and risk landscape.

Qatar CEOs are optimistic about the growth of their organisation and industry, and less optimistic about national and global economic growth. 80 percent are slightly more positive on their organisation’s and industry’s growth for the next three years than their global counterparts (77 percent). These results reflect a resilience and a collective focus to get their organisation and industry back on a sustainable, long-term growth trajectory.

Qatar’s CEOs are slightly less optimistic about the economic growth of the country (64 percent) and the growth of the global economy (52 percent) compared to other global CEOs (78 percent and 73 percent respectively).

This indicates their deep awareness, prudence, and caution of their environmental factors which is set within the backdrop of a less optimistic economic outlook. Incidentally, the top three operational priorities for global CEOs were slightly different with the top priority being the advancing of digitization and connectivity across their business, followed by an employee value proposition to attract and retain the top talent, a joint third of organic growth and improving customer service.

                      CEO confidence in the growth prospects of:

Their company

The Qatar Economy

The Global Economy

Source: KPMG 2023 CEO Outlook

Qatar CEOs shine with unwavering optimism for organizational growth, navigating nationwide challenges with a keen eye on emerging technology and cyber risks, exemplifying resilience and strategic foresight.

Venkat Krishnaswamy
Partner, Head of Advisory
KPMG in Qatar

Top risks looking forward

Qatar's CEOs view the top three risks to their three-year growth ambitions as emerging/ disruptive technology, cyber security, and regulatory concerns. These top three are broadly consistent with their 2022 view on risks with only cyber security replacing operational issues/supply chain as the second most important risk in 2023.

The inclusion of cyber security as a new addition to risks, and the second most important risk affecting growth demonstrates the increased awareness of the impact of cyber security in Qatar. Interestingly, while CEOs have a strong view on ESG and talent (covered in this report), they do not perceive them as risks to their growth ambitions, which is aligned with the view of their global counterparts. 

Risks to growth over the next 3 years

August 2023

1 Emerging/disruptive technology

2 Cyber Security risk

3 Regulatory risk

4 Operational risk

5Political uncertainty

6 Interest rate risk

7 Supply chain risks

Source: KPMG 2023 CEO Outlook

As the economic landscape shifts, Ooredoo remains agile, aligning with Qatar's evolution from construction-centric to a service-oriented ecosystem. Despite a dip in real GDP to 2.5% from the previous year's 4.8%, optimism reigns with stabilized populations promising equilibrium in mobile and ICT markets. The expansion of the North Oil field, a tourism boost, and favorable inflation trends further pave the way for Ooredoo's growth, synergizing with the government's commitment to Qatar National Vision 2030.

Sheikh Ali Bin Jabor Al Thani
Ooredoo Qatar

Qatar CEOs differ from their global counterparts whose top three risks to their three-year growth are geopolitics and political uncertainty, operational issues, and emerging/ disruptive technology. This divergence underscores the unique risk landscape in Qatar, highlighting the distinct strategic focus of Qatar's leaders in contrast to the broader global perspective. 

Overall, Qatar CEOs exhibit a robust optimism towards their organization's and industry's growth, surpassing the confidence of global CEOs, with a more reserved view on national and global economic growth. While global CEOs prioritize geopolitical uncertainties, Qatar's leaders remain undeterred by such challenges, showcasing their resilience and strategic adaptability in the face of evolving global, regional and market conditions.

The Qatari economic landscape is undergoing a transformative shift towards organic growth, emphasizing the adoption of emerging technologies and strategies to bolster resilience against inflationary pressures. Keeping in view the evolving local and global market dynamics, our collective ambition and strategic dedication fortify our resilience, propelling us steadfastly into the future.

Salman Gulzar
Country Head
Mashreq Bank