Virtual Event on Smarter Countries and Investment Opportunities in Qatar

12 Dec 2020

The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has launched its economic impact assessment report entitled, ‘The Economic Impact of Qatar Financial Centre,’ which estimates the economic contribution of the QFC to Qatar, primarily with regard to the gross value added or total GDP contributions and employment across its licensed sectors.

 

The report takes a comprehensive approach to measuring QFC’s economic impact, estimated across three distinct types of contributions, including: impacts created directly by the QFC; indirectly through its local supply chain; and the induced impact, mainly achieved through employee spending such as on children’s quality education, upmarket housing as well as other domestic personal expenditures. 

 

The report highlights that QFC contributed 1.0 per cent to Qatar’s total GDP, meaning that 1.0 per cent of Qatar’s total economic activity was created by QFC’s activities. Looking at non-oil GDP only, QFC’s contribution rises to 1.5 per cent, demonstrating the platform’s vital role in helping to diversify the Qatari economy.