Majority of Qatar’s CEOs foresee growth in their organisations, industries: KPMG outlook

Majority of CEOs in Qatar have adopted a three-year growth strategy and are prioritising capital investment in buying new technology, and in developing their workforce’s skills and capabilities to support their growth and transformation, a new report has shown.
“Despite ongoing challenges, CEOs remain optimistic and are taking a proactive approach to deliver positive outcomes,” noted ‘2023 Qatar CEO Outlook’ by KPMG.
Economic outlook: Qatar's CEOs are optimistic about the growth of their organisations and industries, boasting an impressive 80% confidence for the next three years.
ESG: Despite potential challenges Qatar's CEOs recognise the long-term benefits of ESG in enhancing brand, customer relations, and talent attraction. They view ESG not just as a trend but as a transformative force in corporate strategy.
Talent: Qatar's CEOs are reassessing work environments, with 72% expecting a full office return and 24% considering hybrid models.
Incentives for office return reflect a traditional mindset.
Disruptive technology: CEOs consider generative AI to increase profitability, efficiency, and productivity with the majority of CEOs indicating that it poses a challenge to implement generative AI in their organisation.
Against the backdrop of a complex and rapidly evolving environment, Qatar’s CEOs are facing numerous threats characterised by emerging/disruptive technology, cybercrime and cyber insecurity, regulatory concerns, and talent.
The report also reveals that while acknowledging that an organisation’s reputation is closely tied to a trusted CEO, the majority of CEOs are still prepared to demonstrate strong personal integrity by taking a stand on politically or socially contentious issues, even if the Board was concerned about the risks of taking such a public stance, and are also prepared to divest a profitable part of the business that was damaging the organisation’s reputation.
Ahmed Abu-Sharkh, country senior partner, KPMG in Qatar, noted: "We find CEOs navigating economic uncertainties with optimism, prioritising disruptive technologies like generative AI, and championing ESG governance.
“Despite challenges from cyber threats to regulatory hurdles, their commitment to integrity and long-term strategic planning remains unwavering - ready to make bold decisions for the greater good, even in complex times.”
According to the report, CEOs remain optimistic despite the challenges and uncertainty, and are concentrating their efforts on strategic, long-term planning and resisting the allure of reactive short-term leadership.