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Qatar, which has strategised efforts to strengthen its tourism industry, has seen more than 2mn visitors in the first four months of this year.The country recorded 4mn visitors in 2023, which showed a 58.4% growth compared to 2022, said Saad bin Ali al-Kharji, chairman of Qatar Tourism, at the Qatar Economic Forum powered by Bloomberg.Discussing the future of tourism in the Gulf region at one of the panel sessions, he underscored the role of tourism in job creation and emphasised the need for continuous infrastructure development to support the rapid growth of sectors such as transportation, agriculture, and construction, which contribute to creating both direct and indirect job opportunities.Emphasising the pivotal role of the FIFA World Cup 2022 in supporting the region's tourism industry growth, he said the tournament contributed "significantly" to portraying the Arabian culture and Gulf heritage to the world, thereby attracting visitors and stimulating interest in the Gulf region's unique culture.This resulted in notable growth in tourism investments, visitor numbers, and the development of new tourist destinations, he said in the presence of Saudi Arabia's Tourism Minister Ahmed al-Khateeb.Qatar’s strategic plan calls for tourism to contribute 12% to gross domestic product. According to The World Travel and Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) report, travel and Tourism is set to contribute an all-time high of QR90.8bn to the Qatari economy (11.3% of the total) and will support more than 334,500 jobs across the country (15.8% of the total workforce).It also said spending by international travellers is expected to increase significantly this year, with forecasts indicating a record spend of QR69.6bn this year, while domestic spend is projected to reach QR12bn.In 2023, the travel and tourism’s GDP contribution grew by 31% to a record-breaking QR81.2bn, representing 10.3% of Qatar’s total economic output, demonstrating the sector’s importance to the national economy.Addressing the resilience of the tourism sector, al-Kharji pointed out its ability to adapt to economic and geopolitical conditions and recover rapidly from crises."Despite challenges, global tourism has rebounded significantly from the impact of the Covid-19 pandemic, with travel levels surpassing 88% of pre-pandemic levels worldwide and exceeding pre-pandemic levels in the Middle East," he added.

The 'Double the Discovery', a joint initiative of Qatar and Saudi Arabia, is expected to gain traction and the proposed common GCC (Gulf Co-operation Council) visa will augur well for the tourism in the region, according to a top official of Qatar Tourism."We launched a joint programme called Double the Discovery. We are promoting Qatar and Saudi in one campaign and we identified a few markets to launch this campaign," Saad bin Ali al-Kharji, chairman, Qatar Tourism told the Qatar Economic Forum, powered by Bloomberg.The joint initiative sought to promote tourism in the neighbouring GCC countries, offering international visitors in both countries the chance to explore the rich cultural and historical wonders of Qatar and Saudi Arabia in a single trip."This is taking us to the benefits of collaboration. The competition you see in the region now, we see its cumulative efforts," he said.Qatar Airways will serve as the official airline partner of the campaign. Visit Qatar and Visit Saudi will identify the main markets for launching and promoting travel packages through tour operators in each market. Discover Qatar and Discover Saudi are the local DMC partners in Qatar and Saudi Arabia, respectively.The significant growth in tourist numbers in 2023 and hosting 4mn visitors last year demonstrates Qatar’s exceptional tourism offerings across cultural, sports, and recreational activities, as well as top-notch services in transportation, travel, and hospitality sectors.Expressing the hope that by the end of this year, the GCC might see the unified visa, he said it will also contribute to the number of visitors to this region.Asserting that time has come for the region to reap the advantage of tourism sector and its growing prospects, he said Qatar is now working on strategies and drafting regulations to enable the private sector and tourism to grow as the GCC region was the fastest growing segment within tourism after the Covid pandemic.The sector recovered very quickly and the demand has been growing due to good connectivity, according to him.Ahmed al-Khateeb, Minister of Tourism, Saudi Arabia, said the first step is to make the travel between the GCC countries seamless and then to start working on joint packages and joint flights and joint promotion programmes to put this emerging destination in the global travel map."We started with Qatar, and this is going to be a pilot. Actually, we started with Qatar during the World Cup, where if you get a visa, you can access the two countries and the pilot programme was extremely successful, and we will build on this," he said, adding tourists from China, Europe and India are the prime targets."We have the plans to reach out to these markets and attract them for various reasons," according to him.Highlighting that travel and tourism is very important industry globally, he said the GCC region accounts for 10% market share in the total. The GCC countries have started to invest in this very important industry for the future and to unlock the value, he added.In this regard, he said Saudi Arabia is planning to have 250,000 rooms with global hospitality major Accor planning to double its properties by adding 45 more hotels in the next seven years from the present 41.The country has undertaken capacity enhancement in the King Salman airport to cater to 12mn people and it is also coming with up with new airline Riyadh Air to improve the air connectivity to Saudi Arabia from major tourist cities across the world.Saudi Arabia is investing more than S$800bn in the tourism sector over the next seven years as part of efforts to enhance the sector's contribution to 10% of gross domestic product from the present 4.5%. In the last five years, it added 250,000 jobs in the tourism sector, of which 50% was captured by women.Saudi Arabia's mammoth investment in the tourism sector is through projects such as the Red Sea project, the Diriyah and Qiddiya projects, and other private projects in various regions of the country that contribute to the advancement of the tourism sector.Sébastien Bazin, Group chairman and chief executive officer, Accor said travel and tourism is the second largest industry with its contribution at 11% of total world GDP and 12% of the world jobs."In the next 20 years, the growth (of the tourism sector) will be 5-7% per year due to demographics, emerging middle class and air connectivity," he said, adding "in the next five years, India will change the industry profoundly within India and outside.

The Gulf Co-operation Council (GCC) has long-term plans and is "willing to take every step possible" for investors to do business in the region, which has become a bright spot in the world, according to Mohamed al-Jadaan, Saudi Arabia's Finance Minister."We are willing to take every step possible to make it easier for investors to do business in the region, that we are willing to do a lot of structural changes, including actually making it very predictable," he told the Qatar Economic Forum, Powered by Bloomberg.Highlighting that resource richness brings with it the dependence on oil revenues, he said the region is now marching towards a proper sustainable diversified economy that enables the private sector, utilises the demography of young population who are technology savvy and who can be inventors, entrepreneurs and investors of the future.Speaking at a panel “Reshaping Middle East Economies” at the forum in Doha, he asked policy makers to optimise the strategies to curb “economic leakage” and prevent resources or fund from being wasted.Suggesting prudent fiscal policies, he said spending at a time of global inflation results in increased project costs, which would further fuels inflation and “overheat” economy.He said Saudi Arabia's gross domestic product has risen more than 15% since the launch of 2030 vision, which was launched well before the Covid-19 pandemic, and issues like inflation and supply chain disruptions."All of these collective shocks that are facing the world calls us also to reprioritise, to look at what we are doing, and how can we actually optimise what we are doing, optimize our plans,” al-Jadaan said."We are not complacent, we need to push through the momentum of reforming the economy," he said, adding Saudi Arabia has adopted a conservative approach when it comes to oil revenues.On Saudi Arabia’s ability to fund large-scale projects amid lower oil prices, he said the country has been “conservative” in its economic projections.Saudi Arabia closed 2023 with oil revenue higher than projected at the beginning of the year, despite a 20% drop in crude prices and 17% production, he said.“[This] basically tells you that we are not optimists when it comes to projecting and therefore committing our spent to what the revenue is. We are very conservative,” he added.Mohamed Sulaiman al-Jasser, chairman of the Islamic Development Bank Group, said resilience is probably now what distinguishes the GCC economies, which is seen by the outside world as one bloc that has cohesive and complementary policies to really be a beacon of economic growth and development not for the region but also beyond."Resilience, I think is very important, and the GCC countries seem to be together moving in that direction and now they are much greater believers in their own abilities, he said.“Our demographics are not talked about enough. Our demographics are probably our greatest asset - even more than oil for the GCC," he said, highlighting the transformative changes in the Gulf since the discovery of oil and the investments in education and human development made by the GCC.

HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani affirmed that under the leadership and wisdom of HH the Amir Sheikh Tamim bin Hamad Al-Thani, embodied in the Qatar National Vision 2030, the State of Qatar has successfully navigated significant challenges, leading to the flexibility that characterizes its economy and positioning it competitively on the global stage, with efficient investment in natural resources and human energies.Addressing the fourth edition of the Qatar Economic Forum under the theme "A World Remade: Navigating the Year of Uncertainty," His Excellency stated that the Qatari economy continues to achieve indicators reflecting its stability and prosperity, adding that the gross domestic product at constant prices until the third quarter of 2023 recorded growth of about 1.6 percent and this growth coincided with improvements in financial stability indicators, with the government adopting a flexible financial plan in response to fluctuations in energy prices. He added that Qatar is on its way towards the final stages of Qatar National Vision 2030, with the government continuing to work on completing and enhancing Qatar's diverse economic infrastructure, driven by initiatives from both the local and foreign private sectors, supported by a series of regulatory reforms and investment incentives, qualifying it to occupy an advanced position among the top 10 countries in terms of business environment.His Excellency further highlighted Qatar's transition towards comprehensive digital transformation through increased investment in technology, innovation, and artificial intelligence. To achieve this, Qatar has allocated a package of incentives worth QR 9 billion, and the country is hosting several sessions of the "Web Summit" conference for the first time in the Middle East and Africa to enhance partnerships with major investors and exchange expertise with technology leaders worldwide. Alongside this summit, the "Startup Qatar" project was launched, with more than 250 startups registered.His Excellency also announced the launch of the "Al Fanar" Arabic Artificial Intelligence project, which will primarily focus on collecting quality data in the Arabic language, contributing to enriching large linguistic models and preserving the Arab identity. He pointed out that the government will continue its investment in the energy sector, with Qatar expected to complete its expansion in natural gas production by 2030 through the North Field Expansion project, increasing total production to 142 million tons annually.His Excellency expressed his pride that Qatar has become a beacon of economic opportunities for many, attracting investors from around the world, due to the foundations it provides for economic success that helps uplift the region, allowing everyone to enjoy this prosperity.Regarding the current global challenges and crises, HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani said that the world has barely recovered from the COVID-19 pandemic before finding itself facing wars casting heavy shadows on everyone's lives, unfolding in various parts of the world, particularly the Russian-Ukrainian war in Europe, the Sudanese crisis in Africa, and the latest challenges in the Gaza Strip, where the humanitarian crisis has worsened, claiming the lives of thousands of innocent children, women, and elderly individuals. He emphasized that the State of Qatar was among the first to warn against the danger of the Gaza war spreading to other regions in the region, yet the world as a whole failed to prevent this, leading to the expansion of confrontations to the Red Sea, threatening international navigation and exacerbating the difficulties of global trade already suffering.His Excellency affirmed that the multiple challenges resulting from these successive crises compel countries to work on improving economic conditions, as this contributes to creating oases of stability.HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani concluded his speech by expressing hope in the ability of nations to overcome challenges, stating that in Qatar, everyone is determined to bring about change to establish a better future, looking forward to seeing new investment opportunities through the platform of this forum.

Knowledge translated from world languages into Arabic and from Arabic into world languages attracted the interests of readers and visitors to the 33rd Doha International Book Fair, which was reflected in translators keenness to meet the needs of readers in these fieldsIn statements to Qatar News Agency (QNA), a number of publishers pointed out that literature in general, and novels in particular, are at the forefront of readers demands, in addition to interest in translated books in the fields of psychology, history, and general medical knowledge.New transformations in crises, such as Covid-19 pandemic, and wars and conflicts have enhanced readers interest in learning about knowledge and sciences that were mostly limited to specialists, which thereby prompted many publishers to showcase their production of translations in these fields, they added.Writer at Hamad Bin Khalifa University Press (HBKU Press), Munira Saad Al-Rumaihi, said that readers and translators are mostly interested in translations of literature, as it is a reflection of a world in which we exchange knowledge. she noted that HBKU Press has a strict approach in its translation choices, since it is a bridge to convey literature and knowledge to the world, and to transfer invaluable books and knowledge to Arab readers.Through this approach, HBKU Press have translated international popular books in the fields of fiction into Arabic,besides translating the works of Qatari writers in childrens literature into English, German, Korean and Turkish, which have achieved remarkable success, in addition to distinguished translations in the fields of history and general knowledge, Al-Rumaihi added.For his part, head of the Ebjed Foundation for Translation, Publishing and Distribution in Iraq, translator Hussein Nahaba,said that his works in translating literature to and from Spanish amounted to 41 books, the most prominent of which is the novel; due to readers' interests in Spanish literature, especially following the wave of magical realist novels.Nahaba added that the interests of readers are linked to their age groups, pointing out that most of the visitors to Ebjed pavilion look for translations in the field of history and psychology, while some young readers request translations in the field of human development to enhance their abilities and talents in facing the demands of contemporary life.In turn, supervisor at Egyptian publishing house Aseer Al-Kotob, Alaa Muhammad, said that the translation trends at Aseer Al-Kotob focus on literature in its different classifications, especially modern international series in the field of drama and fantasy, in addition to the works of major contemporary writers in the field of psychology which receive special attention from readers. Muhammad stressed that the quality standard is the basis for readers interest in the houses selections of literature and sciences for translation into Arabic.For his part, head of Kuwait's Basma Publishing and Distribution House, Hamdan Al-Jubairi,pointed out that the Doha International Book Fair is characterized by the diversity of the interests of its visitors, especially in the field of translation from other languages, and that visitors to the Basma pavilion seek translations in the field of novels with a social, philosophical and educational dimension. Educational books related to human development also receive special attention. Therefore, Basma House seek more diversity in their publications in this field.Al-Jubairi pointed out that cultural thought and general medical knowledge received increased attention following the Covid-19 pandemic, as part of the keenness to enhance the prevention of health pandemics.The 33rd Doha International Book Fair witnesses the participation of 515 publishers from 42 countries, with the Sultanate of Oman being the guest of honor. It includes a number of accompanying cultural and artistic events, and continues until May 18t at the Doha Exhibition and Convention Center (DECC).

Dubai's Emirates Group announced annual profits of $5.1bn yesterday, a rise of 71 %, as the airline company set a new record for the second year in a row.Citing strong customer demand, it said group profits for the past two years hit $8.1bn, surpassing the losses seen during pandemic-hit 2020-2022."The Emirates Group has once again raised the bar to deliver a new record performance," chairman and chief executive Sheikh Ahmed bin Saeed al-Maktoum said in a statement.State-owned Emirates Group, operator of the world's largest long-haul carrier, announced a record $3.0bn in profits last year as it returned to the black after the Covid pandemic.Emirates has now erased the $1.1bn loss in 2021-2022 and the heavy $5.5bn deficit a year earlier, when it was forced to ground its fleet and lay off staff."The Group's excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders," Sheikh Ahmed said.The airline business alone returned record profits of $4.7bn, up 63%. Emirates Group also encompasses airport services company Dnata, whose profits more than quadrupled to $400mn.The Emirates Group workforce grew 10% to a record 112,406 employees. The airline will receive 10 new Airbus A350s from August but remains plagued by delays to Boeing's 777X, with 205 on order.The positive financial results come despite a period of turmoil in the region since the Israel-Hamas war started in October, setting off a wave of political tensions."The business outlook is positive, and we expect customer demand for air transport and travel to remain strong in the coming months," said Sheikh Ahmed, adding that possible hazards included "volatile environments caused by socio-political changes".The air travel upswing has prompted Dubai to expand the Al Maktoum International Airport, which has received a relatively small share of the Gulf financial hub's air traffic since 2010.Last month, the emirate announced that work had begun on a new terminal at Al Maktoum on Dubai's outskirts, which the Gulf emirate's ruler said will become "the world's largest" at a cost of almost $35bn.Once fully operational, the airport will "handle a passenger capacity of 260mn annually", the government said in a statement.The first phase of the project is expected to be ready within 10 years, with a capacity to accommodate 150mn passengers annually.Authorities want it to replace Dubai International Airport, which can handle up to 120mn passengers annually and whose city-centre location prevents expansion.

The Police Academy, represented by the Police College, announced that the registration for the fifth edition of the "Police Officers of Tomorrow" program, Summer 2024, will open next Sunday via Metrash application, while the program will commence on Jun. 22 until early August.Addressing a press conference, chairman of the committee of "Police Officers of Tomorrow" program Capt. Hamad Khaled Al Mannai highlighted that the key objective of the program is to deepen the national identity and patriotism and ingrain them in the hearts of young people, in addition to promoting noble values, shouldering the responsibility, serving the community and strengthening the inveterate Islamic principles through a multitude of activities that hone leadership skills. Also, the program intends to foster confidence of the participating students, coupled with practical exercises to upgrade their sporting, military, cultural and awareness capabilities.The program specifically targets students born in 2012, 2013, 2014 and 2015, who will be distributed to six groups, three groups during morning hours from Sunday to Thursday at 9am until 1pm, three groups during evening hours from Saturday to Wednesday at 4pm until 8pm, Al Mannai pointed out, stating that the first and second groups will start on Jun. 22 to Jul.4, while the third and fourth groups will start on Jul.6 until Jul 18, with the fifth and sixth groups starting on Jul 20 to Aug. 1.Al Mannai highlighted that the program activities will be divided into two military and sporting categories, with the military category comprising infantry and air gun shooting, along with lectures in raising the awareness delivered by the Ministry of Endowments (Awqaf) and Islamic Affairs. He added that the sporting category comprises swimming and self-defense contests, alongside lectures by National Cyber Security Agency (NCSA), with the programs featuring field trips to several departments of the Ministry of Interior, such as the General Directorate of Civil Defense, General Directorate of Coasts and Borders Security, and the Internal Security Force (Lekhwiya) to get familiarized with the activities undertaken by these institutions.The registration will kick off next Sunday either via Metrash2 application, or WhatsApp number 60004952 for inquiries, starting from 7am until 12pm, he affirmed, pointing out that students who had participated in the previous sessions could subscribe in this edition.Al Mannai added that the number students who participated in first and fourth editions reached 10,000, notwithstanding the program stopped short for two years due to COVID-19 pandemic, highlighting that admission to this program does not qualify students for military colleges.For his part, assistant chairman of the committee of "Police Officers of Tomorrow" program Capt. Mohammed Nasser Al Sayed talked about evening times and mechanisms of registration via Metrash2, along with the steps that should be followed during the registration process, starting from accessing the citizens services on Metrash and selecting Police Officers of Tomorrow icon. He added that upon accessing Metrash2, a list of children and age groups will appear to select the child to be registered, then fill out the required data and agree to the pledges.As to the mechanism of registration, Al Sayed reminded the students of the importance of reporting any diseases they suffer from, such as Asthma or others, to be put into consideration, confirming that this information will remain confidential, as the application system will shut down automatically, once the registration is complete. He outlined that the admission priority will be, as per priority of registration.

The previous editions of the Qatar Economic Forum were a resounding success, underscoring Qatar's commitment to fostering economic growth, innovation, and global collaboration.For instance, last year’s forum witnessed signing of multiple agreements involving both domestic and international entities, which played a significant role in Qatar’s private and public sectors.In May 2023, Doha hosted the third edition of the 'Qatar Economic Forum, Powered by Bloomberg,' under the slogan 'A New Global Growth Story'.The QEF held in collaboration with Media City Qatar, has grown to become one of the most influential business forums in the region.The event brought together more than 1,000 global participants including many high-level dignitaries and served as a platform for meaningful discussions and exchange paving the way to better economic opportunities locally and globally.The third edition of the forum drew on Qatar’s ability to link Asia with Africa and beyond, as well as its position as a key global diplomatic hub and a leader in LNG energy technologies.Shining a light on the rising south-to-south economy, QEF 2023 highlighted viewpoints and emerging voices from around the world to identify the latest economic trends.It provided fresh and unique perspectives on the issues driving boardroom conversations around the world.More than 50 regional and international speakers made up of government leaders, CEOs, global investors and influential voices from the worlds of culture, sport and entertainment, were present during the event.Amid growing concerns about climate change and sustainable development, QEF 2023 emerged as a platform to address these pressing issues. The forum's emphasis on responsible leadership and environmental stewardship resonated with participants, who discussed strategies to align economic growth with environmental conservation.Qatar's commitment to the United Nations Sustainable Development Goals was evident throughout the event, with discussions on renewable energy, circular economy models, and social inclusivity. By championing sustainable development, the forum showcased Qatar's dedication to creating a prosperous future that safeguards the planet for generations to come.The wider, prestigious international participation in the third edition of the forum, which reached 130 countries, reflected the importance of this global platform for dialogue on the challenges facing the global economy, especially as the forum tries to cover all aspects of the economy, be it in terms of trade and linking it to energy, investments, modern technology, or general mood of consumers, as well as geopolitical turmoil and its complex impacts.The three-day forum was full of in-depth and serious discussions and aimed to put the global economy back on track to growth and anticipate its future in a rapidly changing world.Through seven main sessions that included more than 50 sub-sessions, the forum discussed strengthening international economic partnerships, consolidating bridges of communication and dialogue between different peoples, and how to maximise the global competitiveness of the Gulf Co-operation Council countries in a changing and dynamic economic system.Held under the patronage of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, the first edition of the forum was held virtually in Doha in June 2021 under the theme 'Reimagining the World'.It saw the participation of many heads of state and government and an elite group of CEOs of major international companies, inspiring figures, and decision-makers in the fields of finance, economics, investment, technology, energy, education, sports, and climate, in addition to more than 100 speakers from all over the world.Opening the first edition of the forum, His Highness the Amir pointed to the challenge presented by the coronavirus (Covid-19), and said, "Our meeting today comes while we are in the midst of a confrontation with the Covid-19 pandemic, which has posed a serious and unprecedented challenge to all humanity in all spheres, including the economic field, where endless discussions took place about the fallacious trade-off between people's health and economic health; and where a blurriness overshadowed the expectations of international institutions regarding the future prospects of the global economy, especially that the world has not yet moved to a post-pandemic phase in the shadow of the waves of renewed variants and mutations of the virus that underlined a state of uncertainty."The second edition of the forum was held in June, 2022, while the world was going through a critical juncture as a result of the repercussions of the Covid-19 pandemic, the war in Ukraine, and fears of recession and food shortages.This edition was held under the slogan: 'Achieving equality in global economic recovery', with the participation of many heads of state and government, senior policymakers, parliamentarians, thinkers, economists, businessmen, media, and representatives of regional and international organisations.The previous editions of the forum have not only positioned Qatar as a global leader in economic discourse but has also laid the foundation for meaningful collaborations that can shape the world's economic landscape.As the legacy of the QEF continues to unfold, its impact will undoubtedly extend far beyond the confines of Doha, leaving an indelible mark on the path to a prosperous and sustainable future.

India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in Iran as India seeks to grow trade in west and central Asia.The agreement will give India 10-year access to use the port, located close to Iran's southeastern border with Pakistan, according to Iran's Ministry of Roads and Urban Development.The contract will in turn see India Ports Global Limited (IPGL) invest $370 million into "providing strategic equipment" and "developing the transport infrastructure of the port".Iran's Urban Developement Minister Mehrdad Bazrpash and India's Ports and Shipping Minister Sarbananda Sonowal signed contract in the town of Chabahar, in a ceremony broadcast live on state media.India in 2016 agreed to finance the development of the Iranian port as a trading hub for central Asia as Prime Minister Narendra Modi sought to revive economic ties with Tehran after the lifting of sanctions.Modi and former Iranian President Hassan Rouhani oversaw the signing of a memorandum of understanding for the provision of a line of credit from India's EXIM Bank to develop the port.The development of the port however stalled, despite waivers to sanctions that the United States began reimposing in 2018 after withdrawing from a landmark 2015 nuclear deal with Iran."Chabahar... can act as a focal point in the transit development of the region," Bazrpash said at the signing ceremony."We are pleased with this agreement, and we have full trust in India," he added."Iran and India are seeking to develop Chabahar port as much as possible, taking into account the interests of the two countries for joint access to regional markets," the Indian Minister said.This "long-term contract symbolises the enduring trust and effective partnership between India and Iran," he added.In 2019, before the outbreak of the Covid pandemic, both countries agreed to speed up the project after a visit by India's External Affairs Minister Subrahmanyam Jaishankar to Tehran.Chabahar port is on the Indian Ocean about 100 kilometres (62 miles) west of the Pakistan border.

Under the generous patronage of HH the Amir Sheikh Tamim bin Hamad Al-Thani, the first edition of the forum was held virtually in Doha in June 2021 under the theme "Reimagining the World." It saw the participation of many heads of state and government and an elite group of CEOs of major international companies, inspiring figures, and decision-makers in the fields of finance, economics, investment, technology, energy, education, sports, and climate, in addition to more than 100 speakers from all over the world.Opening the first edition of the forum, HH the Amir pointed to the challenge presented by the Coronavirus (Covid-19), and said, "our meeting today comes while we are in the midst of a confrontation with the Covid-19 pandemic, which has posed a serious and unprecedented challenge to all humanity in all spheres, including the economic field, where endless discussions took place about the fallacious trade-off between people's health and economic health; and where a blurriness overshadowed the expectations of international institutions regarding the future prospects of the global economy, especially that the world has not yet moved to a post-pandemic phase in the shadow of the waves of renewed variants and mutations of the virus that underlined a state of uncertainty."Over the course of three days, the forums participants discussed the agenda which included six main sessions: "Technology Advanced" which highlighted permanent changes to the human-technology nexus; "A Sustainable World" which explored the intersection of capitalism and climate; and "Markets and Investing" which discussed the ability of investors in their hunt for growth to help shape a more resilient global economy.Other sessions covered "Power and Trade Flows" which gathered major international power brokers to share their vision for a new way forward; "The Changing Consumer" which dealt with the future of commerce; and "A More Inclusive World" which presented ideas on the post-pandemic recovery.The forum shed light on the business environment provided by the country and the investment opportunities available and reviewed the developments that have been made in implementing major development projects, especially projects related to hosting the FIFA World Cup Qatar 2022 and the efforts of the State of Qatar to consolidate commitment to the global multilateral trading system, enhance economic openness, and consolidate strong cooperation with various trading partners around the world.As for the second edition of the forum, it was held on June 21, 2022, while the world was going through a critical juncture as a result of the repercussions of the Coronavirus (Covid-19) pandemic, the war in Ukraine, and fears of recession and food shortages.This edition was held under the slogan: "Achieving Equality in Global Economic Recovery," with the participation of many heads of state and government, senior policymakers, parliamentarians, thinkers, economists, businessmen, media, and representatives of regional and international organizations.Throughout the days and sessions of the forum, participants exchanged views and highlighted the future of the global economy and the responsibility towards achieving a comprehensive and sustainable recovery. Qatars preparations to host the FIFA World Cup Qatar 2022 were also at the core of the forums work, within the framework of highlighting the State of Qatar as a leading investment destination in the region and the world as well as the incentives and investment opportunities provided by the State to investors, entrepreneurs, and major international companies in the non-oil and value-added sectors, especially the areas that serve the Qatar National Vision 2030 and the Second National Development Strategy 2018-2022 that aims to establish a diversified and competitive economy based on knowledge.In May 2023, Doha hosted the third edition of the Qatar Economic Forum, Powered by Bloomberg, under the slogan "A New Global Growth Story."The wider, prestigious international participation in the third edition of the forum, which reached 130 countries, reflected the importance of this global platform for dialogue on the challenges facing the global economy, especially as the forum tries to cover all aspects of the economy, whether in terms of trade and linking it to energy, investment, modern technology, or general mood of consumers, as well as geopolitical turmoil and its complex impacts.The three-day forum was full of in-depth and serious discussions and aimed to put the global economy back on the track to growth and anticipate its future in a rapidly changing world. Through 7 main sessions that included more than 50 sub-sessions, the forum discussed strengthening international economic partnerships, consolidating bridges of communication and dialogue between different peoples, and how to maximize the global competitiveness of the Gulf Cooperation Council countries in a changing and dynamic economic system.The forum also discussed the future of foreign direct investment in challenging economic times and the extent to which it is affected by the risks and challenges facing the global economy, the impact of geopolitical tensions on these investments, the radical changes taking place in the regions markets, the best ways to manage inflation, enhance long-term productivity and economic growth, and ways to raise workers salaries and allowances without causing a deep and long-term recession, in addition to how to develop direct trade between the countries of the South, ways to direct the global transition to green energy and sustainable business efforts, and the right direction by avoiding the worst climate change scenarios. Other topics such as tourism, sports, artificial intelligence and other modern technologies were also discussed in the third forum, which witnessed the signing of 8 agreements and memorandums of understanding.Through its fourth edition, the forum is expected to continue its role in diagnosing the reality of the global economy, anticipating its future, and attempting to chart the course of the future stages of global economic growth by focusing on global challenges that affect societies and economies around the world.The Qatar Economic Forum, Powered by Bloomberg, is an important part of the countrys efforts towards consolidating its position as a pivotal commercial center for the business sector in the world. It represents an annual international platform that brings together heads of states and government and experts from various parts of the world to develop innovative and new visions for issues of concern to the global economy.The forum is also a beacon of economic dialogue, not only for the State of Qatar but for the entire region. In a strategic partnership between Bloomberg Media and Media City Qatar, the forum has become one of the most influential business forums in the region.The forum is an opportunity to promote the Qatari economy globally by highlighting the provided incentives and facilities that contribute to attracting more investments and businesses to the country as well as increasing confidence in the Qatari economy, which leads to stimulating economic growth and accelerating its pace.The geographical location of the State of Qatar plays an important role in strengthening its economic ties with various countries of the world, and at the same time helps it develop its foreign trade system, as it has a coastline of 563 kilometers along the western coast of the Arabian Gulf, an advanced infrastructure, road network, airport and port. This development strengthened its quest to be at the forefront in this field regionally and globally, until it became a link between East and West, Asia and Europe, and made it a destination for conference tourism and major events, including the Qatar Economic Forum, which also contributed to promoting the national economy and investment opportunities.Bloomberg Media Company is a reliable source of business news and events. It helps decision-makers identify opportunities and address challenges at crucial moments. Cooperation with Bloomberg Media Group represents an opportunity to exchange ideas and develop innovative and new solutions that will contribute to addressing current difficulties and building a better future for all.

If the past three years have taught us anything, it is that low inflation cannot be taken for granted. Even though US inflation remains above the Federal Reserve’s 2% target for price stability, former president Donald Trump’s advisers are discussing a new and dangerous approach to monetary policy. If implemented during a second Trump presidency, it would undo the decades of hard work that allowed the Fed to reduce annualised inflation by nearly four percentage points since 2022, to roughly 3%, at little or no cost to the real economy.Trump’s advisers are reportedly considering two complementary policy changes. One proposal reportedly involves increasing direct presidential control over the Fed’s interest-rate decisions and rulemaking. Simultaneously, Trump’s trade team, led by former US Trade Representative Robert Lighthizer, apparently wants to weaken the dollar’s exchange rate.While some Trump advisers have denied any plans to devalue the dollar, Trump’s preference for lower interest rates and a weaker currency was evident during his first term. The proposed policies would make it easier for him to override the Fed’s independence and achieve both objectives. The result would be a potent inflationary cocktail.Trump’s desire for a weaker dollar is driven by his belief, shared by Lighthizer, that the dollar is “too strong.” This, in turn, makes US exports expensive in foreign markets and imports cheaper for American consumers, resulting in a large trade deficit. Both Trump and Lighthizer see this as problematic because, in the absence of balanced trade where imports equal exports in value, the United States is funding its trade deficit by borrowing from or effectively ceding domestic assets to foreign entities.But this interpretation reflects a myopic, 17th century understanding of trade and the economy. In reality, the inflows of money that sustain trade deficits can be used to build new factories, promote better use of existing US assets, or finance new domestic investments and enterprises, with positive spillovers to American workers and firms.To be sure, one could argue that a lower trade deficit boosts demand for US products, thereby creating jobs. But with the US already at full employment, the Fed is maintaining higher interest rates precisely to curb demand and bring inflation down. While the Fed was aided in that task by a stronger dollar, a weaker currency would have the opposite effect. Moreover, like the import tariffs favoured by Trump and Lighthizer, a weaker dollar would hurt consumers by driving up prices for goods containing imported components.Even if a weaker dollar and balanced trade were worthwhile goals, the policy options for achieving them range from infeasible to harmful. For example, the US Treasury and the Fed could purchase foreign-currency securities and sell dollar-denominated bonds. But given that the foreign-exchange market’s daily turnover is close to $8tn, these purchases would need to be implemented on a massive scale, which would expose the US government’s balance sheet to huge losses if the dollar were to strengthen.Currency-market intervention could be more effective if America’s allies supported it, as they supported the 1985 Plaza Accord. But while countries like Japan and Korea are becoming increasingly nervous about the weakness of their currencies, most others are not and would require convincing. And good luck organising a cooperative international effort while Trump is threatening to withdraw from Nato.US threats to impose tariffs on countries perceived to have weak currencies would introduce further uncertainty into global trade, potentially damaging investment and growth. Moreover, it is doubtful that any of this would significantly improve the US trade balance.Adjusting interest rates is a more reliable way to influence the dollar’s value. But given that foreign central banks are unlikely to raise interest rates and risk pushing their economies into recession just to accommodate Trump, the Fed would be under pressure to lower rates prematurely. This strategy would be inflationary and self-defeating, as higher domestic prices would offset any potential cost savings for foreign buyers that a weaker dollar might otherwise provide. Nevertheless, this might be the path of least resistance if Trump manages to establish greater presidential control over Fed policy, although it could just as easily worsen the US trade balance as improve it.A surefire way to weaken the dollar and reduce the US trade deficit is to shrink the federal government’s yawning fiscal deficit, enabling the Fed to lower interest rates sooner while controlling inflation. Although this policy would yield long-term benefits for the US and the global economy, it has virtually no political support from either Democrats or Republicans, including Trump.As global inflation spiked following the Covid-19 pandemic, some observers feared a return to the 1970s, when high and persistent inflation made economic life more unpredictable and stressful for households and businesses. Back then, it took a deep international recession to restore price stability. This time, however, inflation fell rapidly without the need for deep recessions, as supply-chain pressures eased and the Fed, along with other central banks, acted decisively to restrain demand by hiking interest rates.Central to this success was the fact that markets’ longer-term inflation expectations remained anchored. The actions of central banks, together with their consistent track records over several decades and institutional independence, fostered confidence that their efforts to tame inflation would be effective.These positive developments would have been impossible in a world where monetary policy was politicised, under presidential control, and focused on the dollar’s external value rather than its far more crucial internal value. Trump’s plans for the Fed and the dollar are a one-way ticket back to the inflationary chaos of the 1970s. — Project SyndicateMaurice Obstfeld, a former chief economist of the International Monetary Fund, is Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at the University of California, Berkeley.

If the past three years have taught us anything, it is that low inflation cannot be taken for granted. Even though US inflation remains above the Federal Reserve’s 2% target for price stability, former president Donald Trump’s advisers are discussing a new and dangerous approach to monetary policy. If implemented during a second Trump presidency, it would undo the decades of hard work that allowed the Fed to reduce annualised inflation by nearly four percentage points since 2022, to roughly 3%, at little or no cost to the real economy.Trump’s advisers are reportedly considering two complementary policy changes. One proposal reportedly involves increasing direct presidential control over the Fed’s interest-rate decisions and rulemaking. Simultaneously, Trump’s trade team, led by former US Trade Representative Robert Lighthizer, apparently wants to weaken the dollar’s exchange rate.While some Trump advisers have denied any plans to devalue the dollar, Trump’s preference for lower interest rates and a weaker currency was evident during his first term. The proposed policies would make it easier for him to override the Fed’s independence and achieve both objectives. The result would be a potent inflationary cocktail.Trump’s desire for a weaker dollar is driven by his belief, shared by Lighthizer, that the dollar is “too strong.” This, in turn, makes US exports expensive in foreign markets and imports cheaper for American consumers, resulting in a large trade deficit. Both Trump and Lighthizer see this as problematic because, in the absence of balanced trade where imports equal exports in value, the United States is funding its trade deficit by borrowing from or effectively ceding domestic assets to foreign entities.But this interpretation reflects a myopic, 17th century understanding of trade and the economy. In reality, the inflows of money that sustain trade deficits can be used to build new factories, promote better use of existing US assets, or finance new domestic investments and enterprises, with positive spillovers to American workers and firms.To be sure, one could argue that a lower trade deficit boosts demand for US products, thereby creating jobs. But with the US already at full employment, the Fed is maintaining higher interest rates precisely to curb demand and bring inflation down. While the Fed was aided in that task by a stronger dollar, a weaker currency would have the opposite effect. Moreover, like the import tariffs favored by Trump and Lighthizer, a weaker dollar would hurt consumers by driving up prices for goods containing imported components.Even if a weaker dollar and balanced trade were worthwhile goals, the policy options for achieving them range from infeasible to harmful. For example, the US Treasury and the Fed could purchase foreign-currency securities and sell dollar-denominated bonds. But given that the foreign-exchange market’s daily turnover is close to $8tn, these purchases would need to be implemented on a massive scale, which would expose the US government’s balance sheet to huge losses if the dollar were to strengthen.Currency-market intervention could be more effective if America’s allies supported it, as they supported the 1985 Plaza Accord. But while countries like Japan and Korea are becoming increasingly nervous about the weakness of their currencies, most others are not and would require convincing. And good luck organising a cooperative international effort while Trump is threatening to withdraw from Nato.US threats to impose tariffs on countries perceived to have weak currencies would introduce further uncertainty into global trade, potentially damaging investment and growth. Moreover, it is doubtful that any of this would significantly improve the US trade balance.Adjusting interest rates is a more reliable way to influence the dollar’s value. But given that foreign central banks are unlikely to raise interest rates and risk pushing their economies into recession just to accommodate Trump, the Fed would be under pressure to lower rates prematurely. This strategy would be inflationary and self-defeating, as higher domestic prices would offset any potential cost savings for foreign buyers that a weaker dollar might otherwise provide. Nevertheless, this might be the path of least resistance if Trump manages to establish greater presidential control over Fed policy, although it could just as easily worsen the US trade balance as improve it.A surefire way to weaken the dollar and reduce the US trade deficit is to shrink the federal government’s yawning fiscal deficit, enabling the Fed to lower interest rates sooner while controlling inflation. Although this policy would yield long-term benefits for the US and the global economy, it has virtually no political support from either Democrats or Republicans, including Trump.As global inflation spiked following the COVID-19 pandemic, some observers feared a return to the 1970s, when high and persistent inflation made economic life more unpredictable and stressful for households and businesses. Back then, it took a deep international recession to restore price stability. This time, however, inflation fell rapidly without the need for deep recessions, as supply-chain pressures eased and the Fed, along with other central banks, acted decisively to restrain demand by hiking interest rates.Central to this success was the fact that markets’ longer-term inflation expectations remained anchored. The actions of central banks, together with their consistent track records over several decades and institutional independence, fostered confidence that their efforts to tame inflation would be effective.These positive developments would have been impossible in a world where monetary policy was politicised, under presidential control, and focused on the dollar’s external value rather than its far more crucial internal value. Trump’s plans for the Fed and the dollar are a one-way ticket back to the inflationary chaos of the 1970s. — Project Syndicate• Maurice Obstfeld, a former chief economist of the International Monetary Fund, is Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at the University of California, Berkeley.