28th CEO Survey: Qatar findings

Sustained optimism about future economic growth

CEOs in Qatar are demonstrating remarkable confidence in the revenue growth of their companies, as well as the economic growth in their territory.

An impressive 87% of business leaders in Qatar have predicted revenue growth over the next 12 months - outpacing the global average of 74% - highlighting their optimism and strategic foresight.

Additionally, 63% of CEOs in Qatar expect economic growth in their territory to improve in 2025 on the back of the ongoing economic diversification initiatives that have powered growth in Qatar in recent years. It is predicted that Qatar’s economy will double in size by 2031². Aligned with their global peers, business leaders in the country are proactively addressing top priorities for the year ahead, including opportunities to enhance resilience in cyber, macroeconomic and climate action.

The desire to reinvent is stronger than ever, driven by AI and climate opportunities

CEOs in Qatar are also highly optimistic about revenue growth, with 87% expecting an increase over the next 12 months, compared to 74% of their global peers. This confidence is driving business leaders to reinvent and strengthen their business models, with 73% of Qatar's CEOs keen to enhance the way they do business in the next 10 years or less. The sentiment is driven, in part, by the megatrends of AI and climate, alongside factors, such as regulatory change, and the blurring of industry boundaries as competition increases over new domains of growth in the region.

The majority of Qatar CEOs have set their sights on reinvention, driven by high levels of confidence and an awareness of the impact of AI and climate megatrends

Over the past five years, CEOs in Qatar have taken bold and proactive steps to diversify their companies and expand their reach. An impressive 63% have collaborated with other organizations, 57% have successfully targeted new customer bases, and 47% have explored innovative routes to market. These strategic initiatives underscore Qatar's dynamic business leadership, paving the way for even greater innovation and transformation in the years ahead.

Our survey findings have also revealed that CEOs in Qatar have demonstrated strong confidence in the transformative potential of GenAI, far surpassing global counterparts; 90% of business leaders have adopted GenAI in the last 12 months, compared to 83% globally. And a further 77% of CEOs in Qatar expect GenAI to drive revenue growth, compared to 41% globally. Additionally, 87% reported improved efficiencies in their employees’ work, with a similar proportion indicating that the technology optimised their own efficiency.

Looking ahead, 97% of CEOs in Qatar plan to integrate GenAI into their technology platforms within the next three years (vs. 78% globally), while 87% aim to embed it into their business processes (vs. 76% globally), and 83% into new products and services development (vs. 63% globally). These findings highlight Qatar's proactive approach to leveraging AI as a competitive differentiator, enabling their businesses to capitalise on its transformative capabilities for both operational efficiency and strategic growth. 

Notably – 90% of CEOs plan to embed GenAI in their workforce and skills strategy – the highest in the region, and significantly higher than the 68% average of their global peers, highlighting how Qatar is leading the way with building a future-ready workforce.

Qatar, National AI Strategy³ is fostering a vibrant environment for AI innovation, showcased by the country's hosting of the prestigious World Summit on AI in December 2024. With the Government's strong emphasis on accelerating emerging technologies, AI is set to play a transformative role, contributing an impressive 9% to 10% to Qatar's economy by 2030⁴. 

As the country strengthens its AI capabilities, one of its recent significant achievements include the Arabic AI large language model Fanar, launched at the World Summit on AI⁵. This national advancement to AI translates into high trust levels among Qatar’s CEOs; 60% say that they trust having AI, including GenAI, embedded into key processes to a ‘large’ or ‘very large’ extent.

Addressing climate challenge 

Qatar’s clean energy strategy aims to diversify into renewables, targeting a solar capacity increase to 5 GW by 2035.⁶ The launch of Qatar’s first green bonds on the London Stock Exchange in May 2024⁷, which raised US$2.5bn, is an indication of the nation’s commitment to financing environmentally friendly projects. 

Solar projects, such as Al Kharsaah Solar PV Power Plant, is expected to supply clean energy to over 200,000 households by 2035, while investments in sustainable ammonia production are intended to increase carbon capture and sequestration capacity by 400% by 2035⁸.

Our most recent regional sustainability research has shown an increased commitment to sustainability strategy across the Middle East⁹, with four out of five executives saying that their company has a formal sustainability strategy in place. 

Over the past 12 months, an impressive 77% of CEOs in Qatar have taken the lead in initiating climate-friendly investments, surpassing the 66% of their Middle East peers. This strong commitment to sustainability reflects a strategic focus on balancing environmental responsibility with high-performance business outcomes, underscoring Qatar’s role as a regional leader in sustainable innovation.

As Qatar positions itself as a leader in digital innovation, ensuring access to skilled professionals will be essential to maintaining its competitive edge and achieving sustainable growth. More than half of the CEOs in Qatar are planning to increase headcount in the coming months, compared with only 23% who said the same in 2024.

Business leaders are focused on attracting and retaining talent to meet their growth objectives, particularly as the country accelerates its digital transformation and prioritises leveraging AI and GenAI for innovation and strategic digital partnerships. A significant number of CEOs in Qatar are confident about the talent available in the country as a result of the government and various organisations investing heavily in education, skills development and leadership training across all sectors.¹⁰

Industry convergence aids the reinvention agenda 

In the last five years, 33% of businesses in Qatar have begun competing in new sectors. In the areas of mergers and acquisitions, economic diversification, outbound investments and a focus on renewable energy are driving dealmaking in Qatar. M&A activity saw a rebound in early 2024, fuelled by the country’s third National Development Strategy - we now see nearly half (47%) of CEOs in the country planning to make at least one acquisition in the next three years. This shift indicates a growing appetite for strategic expansion, driven by opportunities to diversify portfolios and capitalise on emerging sectors aligned with Qatar's economic transformation agenda.

CEOs in Qatar can set reinvention plans on a course for success if they:

• Continue to actively support the government’s vision and NDS-3 of establishing Qatar as a regional innovation and AI hub by continuing to invest in cutting-edge technologies and driving advancements in the digital and tech sectors. Business leaders are encouraged to continue capitalising on emerging opportunities in AI-related industries, such as data centres and cloud computing, which are important enablers of the nation’s digital transformation. By aligning their strategies with these growth areas, the country’s CEOs can not only enhance their organisation’s competitiveness but also contribute to building a robust, tech-driven economy that positions Qatar as a leader in AI innovation.

• Continue expanding further into non-oil sectors such as tourism, logistics, manufacturing and financial services that are growing rapidly. The growth of non-oil business activities in Qatar has remained steady and CEOs should target acquisitions and collaborations, to leverage on opportunities in these high-growth areas.

• Continue collaborating on cutting-edge climate solutions and expand into global markets, supported by Qatar's recent announcement to invest £1 billion in climate technology in the United Kingdom. Initiatives, such as this will create thousands of jobs and establish climate technology hubs in both countries, accelerating the development of climate-friendly innovations.¹¹

• Continue empowering the workforce to drive sustainable reinvention. Key skills are likely to be in high demand as Qatar’s economy continues its rapid growth. Leaders must continue to upskill employees to meet future demands in high growth sectors and continue investing in attracting and retaining top talent from around the world, leveraging new visa admission programmes and labour policies.