The World Travel and Tourism Council expects Qatar to welcome 6.24 million tourists by 2028 with spending on the sector reaching QR 102.7bn, an increase of 9.1 percent annually until 2028, the ‘Qatar Economic and Commercial Activities Guide 2022’ launched by the Qatar Chamber yesterday stated.
The Guide was inaugurated in the presence of Minister of State and Chairman of the Board, Qatar Free Zones Authority H E Ahmad bin Mohammad Al Sayed and Chairman of the Qatar Chamber Sheikh Khalifa bin Jassim Al Thani.
It stated that the high income that provides high purchasing power enhances the appetite for domestic tourism while the exemption of citizens from 88 countries from entry visa into Qatar and the global best performance of the Qatar Airways and Hamad International Airport contribute to a vibrant tourism industry in Qatar.
Qatar would notch an economic return exceeding $7bn through tourism from the World Cup which will contribute to achieve great momentum for the Qatari economy in the last quarter 2022 the Guide stated based on research by Capital Economics, an economic research company.
The Guide underpins the waste scope that Qatar offers to investors across a wide spectrum being known as a land for investment.
The Qatari government has stepped up efforts to attract foreign investments by providing a host of incentives and facilities to global business owners in addition to setting up a department to coordinate between local and foreign investors and the government agencies, according to the chamber guide.
The authorities are also working on developing a licensing system that will expedite the licensing process for tourism companies, the guide stated.
Qatar has provided a stable and conducive investment environment for foreign entities by investing $ 200 billion in infrastructure that supports tourism sector in projects such as the Hamad International Airport, Qatar Rail Project, Msheireb Downtown Doha project, the Qatar national museum, the activity guide stated.
It stated among the incentives offered by the government to global investors under the Foreign Investment Law is the allocation of land for business activities under long term lease contracts of up to 50 years and exemption from income tax for up to 10 years in certain sector and permission to import materials for investment project.
The Guide outlines the reason for investing in Qatar which is ranked second in the Middle east and North Africa and 51st globally in the Travel and Tourism Competitiveness Report by the World Economic Forum ‘Davos’ which includes 140 countries which indicates that Qatar has topped 89 countries and has a thriving hospitality sector.
The Gulf state is ranked among the riches countries in the world with an average per capita income of $ 166.79 thousand annually.
Qatar expects over 1.5 million visitors for the World Cup demonstrating its enormous potential to be a leading travel and tourism destination in the globe.
The spectacular sporting event to be hosted for the first time in the Middle East is said to put Qatar on top of the global map for travel according to industry experts.
Source: The Peninsula Qatar