Market

Treasures of the GCC

The Gulf Cooperation Council (GCC) is a political and economic alliance that aims to achieve unity and synergy among its members to bring forward stability, collective economic powers and political clout at the global scene. While the GCC members are the owners of the largest and most important oil and natural gas reserves in the world, in recent years, they started aiming at diversifying .their income resources to lessen dependence on oil.

2022 Account Surpluses of $138.00 Billion

Median age of 27

Treasures of the GCC

The landscape is continuously evolving and the stereotypes of being a nomadic population of deserts, have become an example of modernity and exponential leaps across all social, economic, and political dimensions

Median age of 27

0.9%

Expected population growth by 2023

2.3%

Country	2022 Population
Bahrain	1,783,983
Kuwait	2,879,915
Oman	4,380,326
United Arab Emirates	10,081,785
Saudi Arabia	35,844,900

Treasures of the GCC

$26.6 billion market size 2022

	Forcasted Spending by 2023	Annual growth rate since 2018
GCC Tourists	since 2018	since 2018
Business Tourism	since 2018	since 2018
Leisure Tourism	since 2018	since 2018

Treasures of the GCC

GCC witnesses an increased competition from global
players as the previous barriers to entry and the
requirement for local ownership has been lifted

While the numbers reflect a leap in e-commerce in the Region

Adoption of online shopping mostly in food and beverage, hotel and aviation bookings and services

The “Research Online, Purchase Offline” concept is still dominant, where shopping malls are a family haven during the heat of the summer

Store-based sales dominate the Region’s retail landscape

Retail Sales	Anticipated Growth by 2023
Non-food	4.7%
Food	2.8%
	Forecasted spending by 2023	Annual growth rate by 2018
Personal luxury goods	$11,700,000,000	4.0%

Treasures of the GCC

Share of Retail Channels from total Retailing in GCC

QATAR, the Land of Great Opportunities

Qatar continues to remain among the richest countries in the world, ranking 3rd on the highest GDP per Capita, and having a booming tourism sector that gears up to host the FIFA World Cup 2022 and the World Aquatics Championships in 2023.

The State of Qatar retained its global distinction as the safest country among Arab countries and globally by winning first place in terms of safety and security among 118 countries.

To date, Qatar Central Bank has continued implementing its exchange rate policy of hard pegging to the USD at an average price of QR 3.64 per USD.

There is no tax on personal income and no VAT – Qatar is one of several low taxation countries around the world, which makes it attractive to expats (individuals and companies).

QATAR, the Land of Great Opportunities

Qatar National Tourism Council (QNTC) organizes the Annual Shop Qatar Festival which provides a wide offering vis-à-vis promotional offers, discounts and entertainment and public celebrations, exciting events and festivities encouraging residents and visitors to enjoy the authenticity of the experience, bolstering the country’s retail sectors and promoting Qatar as a shopping destination.

GDP in 2022 (projected)

$186 BN

Population in 2022

2.8 MN

GPD per Capita in 2022

$66.4 K

QATAR, the Land of Great Opportunities

Hamad International Airport (HIA) was ranked as the ‘Best Airport in the World’. Awarded the title of ‘Best Airport in the Middle East’ for the fourth year consecutively. Qatar National Tourism Council grants free visa on arrival for over 90 nationalities.