Qatar's economy is ruled by the Petrol and natural gas industry, giving the maximum revenue to the country. Qatar is one of the wealthiest places in the world and is known for its cultural attractions and luxurious lifestyle. The unemployment rate is very low at 0.08%, which is appreciable in a country with a population of 2.8 million people. Qatar offers innovative and high-paying jobs in various sectors. It opens the doors of opportunities for its citizens as well as foreign workers.
In the last decade, Qatar has recorded immense growth in the oil, aviation, retail, tourism, and construction sectors. Its multicultural and welcoming society is perfect for young and qualified professionals and graduates. Foreign skilled workers have a wide range of job opportunities in several multinational companies. Qatar stands higher in economy compared to its neighboring countries like UAE and Saudi Arabia.
Overview of Qatar
As of 2021, Qatar is the country that ranks second in exporting natural gas and has the third-largest natural gas reserve. Qatar is ranked as the 54th economy in the world by nominal GDP (Gross Domestic Product). 70% of the revenue of the country comes from the petrol and gas industry, which helps the country to grab a position in the top ten rich countries in the world. The other major industries include the finance sector, Islamic finance sector, and capital market. Tourism is also a popular industry.
Population - 2.8 million
GDP- 166.031 billion USD (2021)
Based on the GDP per capita in the world, Qatar is one of the richest and prosperous countries in the world. The GDP of Qatar has been growing with an increase of 0.4 % in 2020 and 1.5% percent in 2021 and has reached a valuation of US $166.031 billion. The unemployment rate of Qatar is 0.08% in 2020, which is very low compared to other countries.
The impact of COVID-19 in the employment sector was observed significantly in the fields of food and accommodation sector, manufacturing sector, hospitality sector, aviation and travel, tourism, and business sectors. The construction and infrastructure sectors, energy, rail, and telecommunication industry are the emerging sectors in the market.
A brief glimpse of the industries
- Qatar is a country which has abundant oil and gas deposits. The major industry which contributes to 70% of the country’s revenue and 60% of the Gross Domestic Product of the country is the Petrol and natural gas industry. Qatar is ranked second in exporting natural gas and has the third-largest natural gas reserve. Oil production helped the country to move out of the poor country list to the richest countries list.
- The finance industry is another important industry that includes the Islamic Finance sector, Capital Markets, Real Estate, Banking, and Insurance sectors. The finance industry is the fastest growing industry that was able to overcome many financial crises. The liquidity problem is one of the challenges faced by the industry.
- Hospitality and tourism is another emerging industry where the Qatar Government has invested pretty heavily in an alternative source of income. The development of hotel facilities and infrastructural projects by the government is a measure taken for the growth of this industry.
- The petrochemical industry in Qatar produces polythene, ethylene, and gasoline, and this industry is expected to grow at 6% per annum in the next decade. The country also faces challenges and competition from neighboring countries like Iran and Saudi Arabia. The industry generates an income of $8 billion annually.
Cost of living in Qatar
Qatar has the 34th highest cost of living in the world and is one of the liveliest countries with cosmopolitan sophistication with rich culture. Al Hilal, Al Najma, and Al Thumama are some of the most affordable cities in the country.
Cost of Renting
The cost of living on rent in Qatar depends on the location and the size of the house. A one-bedroom apartment may cost you about $1460.55 (5350 QR), depending upon the area. The rent can increase or decrease based on the location of the property.
The top sectors that are expected to hire in 2021 in Qatar are: -
Top skills in Qatar
Qatar has a rich and prosperous economy heavily dominated by the Petrol and natural gas industry. The other major industries include Petrochemical Industry, Financial Industry, Tourism, and Energy sectors. There are many job openings for these skills.
- Advertising and Media
- Human Resource
Top skills city-wise occupation-wise
Every city in Qatar has its features, making them unique and suitable for certain industries/sectors. Qatar is a country with a desert landscape with a deposit of oil and gas, which provides a wide range of job opportunities for expats and immigrants.
- Doha - Doha is the most popular city and the capital of Qatar. Doha is the fastest-growing city and the economic center of Qatar. The tourism and real estate sectors are the important industries flourishing in the city. It is one of the most expensive cities to live in. It is also known for the Education and Training industry.
- Al Rayyan- Al Rayyan is another major city in Qatar known for its Education and Healthcare Industry. It is the third-largest municipality in Qatar. The other industries include Media and Advertising, Tourism and Marketing sector. Sports industry is also thriving in this city.
The cost of hiring is an extremely important facet for employers while conducting a recruitment process. You need to think about several factors before deciding to hire new personnel, such as: -
- Onboarding and training
- Opportunity costs
- Interviews and hiring processes
- Time invested
Salary structure for various roles
The table below highlights the average salaries that are offered to employees in Qatar according to different sectors: -
Employment Laws in Qatar
Qatar has a well-defined employment system with well-organized federal and state laws. Factors such as work hours, penalty rates, and overtime payment vary according to the industries. The Qatar Labor Law regulates the following employment aspects –
- Maximum 8 hours of work a day
- Paid and Unpaid leave
- Termination of Employment
- Workplace Surveillance
- Employee Contract
The laws and regulations that govern the employment relationships in Qatar are based upon
- Legislation (federal, state, and territory laws)
- Contractual agreements
- Employee contract
- Social security laws
How Can Skuad Help You with Hiring in Qatar?
Acquiring the best talent in Qatar requires you to follow all the rules and guidelines specified by the government. You must also have an understanding of the industry norms as well as labor laws. Instead of investing your time and resources in this time-consuming exercise, you must utilize it for other productive channels. With Skuad, all your recruitment-related requirements are taken care of. Connect with Skuad to know more.