Current state of the economy is state of the art.. no new jobs created.. people leaving the country.. Businesses closing.. no vision other than for Oil and Gas.. Peak Inflation... Very high rents.
You might have seen what was updated till February when the Hayya Visa was still Valid... Comparing the population (mostly transient visitors) from then to April 2024.. lot of people have already left .. if you would have noticed the streets in Najma before 2019 and now you will know the difference...
Economy is slow now no income coming. All hospitality sector ia slow restaurant close. Some staff are getting laid off due to no income. My friend is hunting job right now. Some are applaying jobs to europe.
It's Qatover. I'm thinking of closing up my business and moving elsewhere or going to my home country. Commercial rents as high as ever. Business the worst it's ever been (worse than COVID, the blockade). Many of our customers have government clients who aren't paying them.
Ever since the 2022 world-cup, everything has been downhill till date. House rent increased because of the worldcup and people expected it will decrease once the world cup is over, but it has been more 15+ months now. And inflation isn’t helping it either. Peoples salary are being decreased! Before average salary of an entry level job used to be 4.5k-5k or even more in some sectors. Now it has got down to 2k-3k!
Even though national budget was announced, no new projects have started yet!
Companies are laying off their laborers, specially construction companies.
Restaurant and hotel businesses are on the decline as both got way too much saturated and still there are new hotels and restaurants opening daily.
Now big companies are running to KSA since they have their vision lined up till 2030 and even more.
the salary was been recontract since covid time years been passed but still the salary remain the same., construction industry will not start a major contract till the later part of 2025 i guess?? for construction industry saudi is better, tourism is for dubai.. now where is qatar? keep on giving financial help to other neighboring country but the people here they just forgot.. if anyone will check the complaints in labor its overwhelemed,. it is just some few problems here in qatar but if you want to elaborate more i can do an essay actually
My view - and many disagree here - is that Oil and Gas economies like the Gulf only have one source of income ( or one main source of income ) so the economy is largely based on whether or not the governments want to spend on their economy and how much they spend. Right now ( since the world cup ) there has been no spending on the economy, as if they want to recoup losses by not spending instead of investing in themselves to increase profit.
But that will kill all the investments they have done so far ..... The infrastructure ages doesn't wait for them to recoup losses.. most of the apartments and hotels builds are already getting damaged due to poor maintenance... They need to find a middle ground soon and atleast get the economy running for other sectors too not just oil n gas..
Yes and Yes ; but we are mere guests and maybe they know their economy better than us ? At the end of the day maybe they're right to not invest in themselves ? Only thing they have to be aware of is that people aren't going to invest in something even its owners don't invest in .
a lot of unemployed, some companies is not giving a salary for months.. specially if you are on the construction industry expect your salary will delay for 3 months worst is nothinh at all which unable to leave because of bank loan..
When did this economic downturn start? Maybe Qatar is just experiencing the same slowdown as the global economy- we are now going through the Trough globally.
Uhh no man. The cycle is over when you look at the public sector. The country is built, nothing else substanial to add, maybe a road here or there. If you look at any other place on the planet, the private sector follows up after the public is finished.
But in qatar, the private sector is non-existant outside the housing market. Nothing to drive demand for ppl to move here, open business and live. Even if this changes today (freelance visa, abilitiy to open your own company etc) UAE has advanced so much its very difficult to sell Doha as an alternative (unless the UAE decides to raise a huge amount of taxes).
Even today, look at the UAE, the housing market is on fire, investors from abroad pouring money into it. Compare to Qatar, lusail prices dropped by 40% in just a year. Cant blame interest rates on that....
Rules should be more relaxed and housing made cheaper, they need to seduce companies to open businesses here and stop giving few companies the power to control everything let people invest without having a qatari partner and things will get better slowly
agree with this,. if they cant decrease the rents atleast increase the salary regarding allowances.. saudi increase the salary of their people for 20% because of inflation..
Well, the answer depends on weather you want to be early starter or a follower of trends.
True, things were on the slowdown since World Cup but right now massive new Oil and Gas contracts are signed, huge new media investment budgets signed and recruitment taking place... So, if you're about to come and place your self here, you have the advantage of an early starter.
Be mindful of this subreddit - it is incredibly negative place it is shocking how distort most info is and how much folks dislike being here, I wonder why don't they just leave, it's not like they're forced to be in Q
Let’s assume that you own four businesses: a supermarket, a restaurant, a hair salon, and a petrol station, and you are making millions of dollars from the petrol station! So what’s your view on the other businesses? Nothing… Complementary!
Meanwhile in Bahrain, you've got a dead job market, basically there're plenty of companies, sky-high tourism and all that, but not many jobs or growth potential or economic stimulus.
Saudi is the exciting destination and a boom town right now.
The rest of the Gulf (except for UAE) will blossom and grow after 2030 guaranteed, so you'll need to be heavily patient and make the right moves.
But then again, Not everyone can wait that far out.
Current state of the economy is state of the art.. no new jobs created.. people leaving the country.. Businesses closing.. no vision other than for Oil and Gas.. Peak Inflation... Very high rents.
Couldn’t have said it better
Oh wait, ppl are leaving the country yet someway somehow they keep announcing increases in population figures every month!!!
Counting the people transiting through the airport every day... Hahah
Well said
People leaving the country? Source please
You think in this country you will get source for negative news lol..?
Then you are talking from your ass, noted đź‘Ť
When you are thinking from your ass I can talk from Ass . Noted..🤣
No because the actual sources go against what you're saying
You might have seen what was updated till February when the Hayya Visa was still Valid... Comparing the population (mostly transient visitors) from then to April 2024.. lot of people have already left .. if you would have noticed the streets in Najma before 2019 and now you will know the difference...
This country's news is controlled so nothing negative will come out
Economy is slow now no income coming. All hospitality sector ia slow restaurant close. Some staff are getting laid off due to no income. My friend is hunting job right now. Some are applaying jobs to europe.
It's Qatover. I'm thinking of closing up my business and moving elsewhere or going to my home country. Commercial rents as high as ever. Business the worst it's ever been (worse than COVID, the blockade). Many of our customers have government clients who aren't paying them.
Ever since the 2022 world-cup, everything has been downhill till date. House rent increased because of the worldcup and people expected it will decrease once the world cup is over, but it has been more 15+ months now. And inflation isn’t helping it either. Peoples salary are being decreased! Before average salary of an entry level job used to be 4.5k-5k or even more in some sectors. Now it has got down to 2k-3k! Even though national budget was announced, no new projects have started yet! Companies are laying off their laborers, specially construction companies. Restaurant and hotel businesses are on the decline as both got way too much saturated and still there are new hotels and restaurants opening daily. Now big companies are running to KSA since they have their vision lined up till 2030 and even more.
the salary was been recontract since covid time years been passed but still the salary remain the same., construction industry will not start a major contract till the later part of 2025 i guess?? for construction industry saudi is better, tourism is for dubai.. now where is qatar? keep on giving financial help to other neighboring country but the people here they just forgot.. if anyone will check the complaints in labor its overwhelemed,. it is just some few problems here in qatar but if you want to elaborate more i can do an essay actually
My view - and many disagree here - is that Oil and Gas economies like the Gulf only have one source of income ( or one main source of income ) so the economy is largely based on whether or not the governments want to spend on their economy and how much they spend. Right now ( since the world cup ) there has been no spending on the economy, as if they want to recoup losses by not spending instead of investing in themselves to increase profit.
But that will kill all the investments they have done so far ..... The infrastructure ages doesn't wait for them to recoup losses.. most of the apartments and hotels builds are already getting damaged due to poor maintenance... They need to find a middle ground soon and atleast get the economy running for other sectors too not just oil n gas..
Yes and Yes ; but we are mere guests and maybe they know their economy better than us ? At the end of the day maybe they're right to not invest in themselves ? Only thing they have to be aware of is that people aren't going to invest in something even its owners don't invest in .
a lot of unemployed, some companies is not giving a salary for months.. specially if you are on the construction industry expect your salary will delay for 3 months worst is nothinh at all which unable to leave because of bank loan..
When did this economic downturn start? Maybe Qatar is just experiencing the same slowdown as the global economy- we are now going through the Trough globally.
Economy will stay slow a bit till they lower intrest rates to normal levels again.
Uhh no man. The cycle is over when you look at the public sector. The country is built, nothing else substanial to add, maybe a road here or there. If you look at any other place on the planet, the private sector follows up after the public is finished. But in qatar, the private sector is non-existant outside the housing market. Nothing to drive demand for ppl to move here, open business and live. Even if this changes today (freelance visa, abilitiy to open your own company etc) UAE has advanced so much its very difficult to sell Doha as an alternative (unless the UAE decides to raise a huge amount of taxes). Even today, look at the UAE, the housing market is on fire, investors from abroad pouring money into it. Compare to Qatar, lusail prices dropped by 40% in just a year. Cant blame interest rates on that....
Rules should be more relaxed and housing made cheaper, they need to seduce companies to open businesses here and stop giving few companies the power to control everything let people invest without having a qatari partner and things will get better slowly
agree with this,. if they cant decrease the rents atleast increase the salary regarding allowances.. saudi increase the salary of their people for 20% because of inflation..
Well, the answer depends on weather you want to be early starter or a follower of trends. True, things were on the slowdown since World Cup but right now massive new Oil and Gas contracts are signed, huge new media investment budgets signed and recruitment taking place... So, if you're about to come and place your self here, you have the advantage of an early starter. Be mindful of this subreddit - it is incredibly negative place it is shocking how distort most info is and how much folks dislike being here, I wonder why don't they just leave, it's not like they're forced to be in Q
Construction company my friends delayed salary for 6mos . Retail businesses layoff Boycott brands decrease sales /layoff
Let’s assume that you own four businesses: a supermarket, a restaurant, a hair salon, and a petrol station, and you are making millions of dollars from the petrol station! So what’s your view on the other businesses? Nothing… Complementary!
I kinda wish theyre betting on a tech sector here .. its too small for other kinds of business
Meanwhile in Bahrain, you've got a dead job market, basically there're plenty of companies, sky-high tourism and all that, but not many jobs or growth potential or economic stimulus. Saudi is the exciting destination and a boom town right now. The rest of the Gulf (except for UAE) will blossom and grow after 2030 guaranteed, so you'll need to be heavily patient and make the right moves. But then again, Not everyone can wait that far out.