Post-World Cup opportunities in Qatar galore amid permanent boost to tourism: QFC

The recently held FIFA World Cup helped boost Doha's retail and services sectors in December 2022, which strengthened the outlook for business activity as post-competition business opportunities appear rosy on expected permanent boost to tourism, according to the Qatar Financial Centre (QFC).
As was the case in November, wholesale, retail, and service providers in particular registered rapid expansions in activity. These sectors also drove a record overall increase in prices charged for goods and services, said the QFC's latest purchasing managers' index survey data.
"The tournament's legacy is also looking secure, with widespread reports from companies of post-competition business opportunities and an expected permanent boost to tourism. The Future Activity Index, tracking the 12-month outlook, rose to a 29-month high in December," Yousuf Mohamed al-Jaida, QFC Authority chief executive officer.
The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.
“The FIFA World Cup Qatar 2022 makes its mark on the Qatari economy in December, with another rapid increase in business activity fueled by the retail and services sectors. The December data round off a stellar 2022 with the Output Index and headline PMI trending at 69 and 57.7 respectively, the highest annual averages since the survey began in 2017," al-Jaida said.
The PMI rose for the second month running from 48.8 in November to 49.6 in December, pointing to a near-stabilisation in overall non-energy private sector business conditions at the end of 2022.
As was the case in November, a rapid rise in activity – the Output Index posted 62.8 on the back of surging retail trade and services – was countered by a construction-driven pause in new work, as well as improving supply chains.
Non-oil private sector output rose for the thirtieth consecutive month in December. The rate of growth was little-changed since November and well above the long-run survey average.
Sector data revealed especially marked growth in wholesale and retail and services, reflecting the continued impact of the FIFA World Cup Qatar 2022.
Although there was a further pause in new business, particularly in construction, the respective index rose for the second month running in December from October's28-month low. Meanwhile, firms were able to reduce their outstanding business for the fifth month running.
The financial ser