Rise in investments and tourists from Qatar likely


28-March-2012

President Michel receiving ambassador Abdulla at Sate House yesterday

Qatari ambassador Abdulla al Mahmood said this yesterday after he paid a courtesy call on President James Michel at State House.

He said business people in his country are interested in real estate investment and the tourism industry, adding his talks with Mr Michel also touched on the need for more flights in view of the expected boost in Qatari visitor arrivals here.

“We discussed bilateral relations between the two countries and possible ways of pushing the ties forward. We also talked about possible investment by Qataris in Seychelles.”

Noting his country will host the 2022 Fifa World Cup, he said his country is investing a lot in its hotel industry, a development which could have a positive spillover effect for Seychelles as we are connected by Qatar Airways – which covers destinations around the world carrying people who pass through Doha.

“Qataris are looking for travel destinations and Seychelles is quite suitable being only four hours away by air,” he said.
Qatar is a sovereign Arab state sharing its southern border with Saudi Arabia, with the rest of its territory being surrounded by the Persian Gulf.

It became independent in 1971, and has become one of the region's wealthiest states due to its enormous oil and natural gas revenues.

Qatar tops the list of the world's richest countries and in 2010 had the world's highest GDP per capita, while the economy grew by 19.4% –  the fastest in the world. The main drivers for this rapid growth are increased production and exports of liquefied natural gas, oil, petrochemicals and related industries. The country has the second-highest human development in the Arab world after the United Arab Emirates. Its workforce comprises expatriates from other Arab nations, Indian, Nepal, Pakistan, Sri Lanka and the Philippines.

It attracts an annual US $100 billion in investment, with approximately US $60–70 billion coming from the US’ energy sector. It is estimated that Qatar will invest over US $120 billion in the energy sector in the next 10 years.

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