The connection between the United States and Qatar in terms of political connection, economic, and security has increased significantly in the last few years. Qatar continues to grow into a tough and diverse market, although there are some regional turmoil and some uncertainty in the global market, including the decrease of energy costs.
In order to strive in this ever-growing market, it is wise to conduct some market research Qatar. There are several different providers, and you can always choose the one that suits your needs best. Still wondering why a market research is important, especially in Qatar? Read about it below and decide whether or not you need a market research.
Here Are the Reasons Why Market Research Qatar is Important
In October 2016, the increase of inflation rate in Qatar reached an amount of 2,2 percent because of the increase in domestic energy costs. The inflation rate in January 2017 was 1,2 percent, and this amount is significantly lower than it was in the year before. This inflation rate is predicted to reach 3,7 percent in the fourth quarter of 2017.
However, there is a risk of supply shortage which might make the inflation rate even higher than initially predicted. In order to anticipate problems, market research Qatar is best conducted as soon as possible.
Petrol and Gas Diversification
The government needs to focus on initiatives and efforts to diversify the economy and reduce costs for less important regions. With a plan called Qatar National Vision for the year of 2030, the infrastructure and transportation in Qatar has been the main focus.
Examples of this development are the expansion of Hamad International Airport, finishing the first phase of the new Hamad port, launching several road projects and Metro transit project.
Government and Private Corporation Partnership
Qatar will become the host of 2022 world cup. However, the stadiums in this country might not be enough to facilitate the game. A draft bill related to the partnership of government and private companies is expected to facilitate further investments in Qatar.
The ministry of Economy and Trading has led several efforts in order to make this happen, along with some private companies with the same goal.
Strong Trade and Investment Relations with the United States
The relation of trading and investment between Qatar and the United States is still going strong, with the total of trade reaching 6 million US Dollars. The value of items exported to Qatar from the US reaches nearly 5 million Dollars. In 2016, an economic dialogue between the two countries was held and several decisions were made.
One of the results of this important meeting is implementing concrete ways to strengthen the commercial connection between Qatar and the US.
In the last dialog held between the two countries, Qatar Investment Authority announced an additional commitment to invest ten million dollars in the United States regarding the infrastructure. It is an addition to the existing commitment to allocate 35 million Dollars in capital investment in the USA.