Selected Issues Papers

From HydroCarbon to Hightech: Mapping the Economic Transformation of Qatar

Author/Editor:

Chandana Kularatne ; Ken Miyajima ; Dirk V Muir

Publication Date:

February 21, 2024

Electronic Access:

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Summary:

Qatar’s state-led, hydrocarbon intensive growth model has delivered rapid growth and substantial improvements in living standards over the past several decades. Guided by the National Vision 2030, an economic transformation is underway toward a more dynamic, diversified, knowledge-based, sustainable, and private sector-led growth model. As Qatar is finalizing its Third National Development Strategy to make the final leap toward Vision 2030, this paper aims to identify key structural reforms needed, quantify their potential impact on the economy, and shed light on the design of a comprehensive reform agenda ahead. The paper finds that labor market reforms could bring substantial benefits, particularly reforms related to increasing the share of skilled foreign workers. Certain reforms to further improve the business environment, such as improving access to finance, could also have large growth impact. A comprehensive, well-integrated, and properly sequenced reform package to exploit complementarities across reforms could boost Qatar’s potential growth significantly.

Series:

Selected Issues Paper No. 2024/010

Subject:

Climate finance Education Environment Gender International organization Labor Labor force participation Labor market reforms Monetary policy Women

Frequency:

Regular