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Qatar’s CEOs 'remain optimistic' about long-term growth: KPMG

Qatar’s CEOs “remain optimistic” about long-term growth, with many prioritising resilience, technology adoption, and regulatory adaptability, according to KPMG in Qatar.

In its ‘2024 Qatar CEO Outlook’, KPMG in Qatar reveals that 64% of Qatar’s CEOs expect to see returns on their investments in generative AI within the next three to five years, underscoring a strong commitment to innovation.

Additionally, 80% recognise AI as both a disruptor and a competitive advantage, reinforcing its transformative role across industries. However, leaders also acknowledge the challenges ahead, including ethical considerations, regulatory complexities, and evolving workforce dynamics.

The outlook offers a comprehensive analysis of the key trends shaping the business landscape. Based on insights from Qatar’s top executives, the report explores how CEOs are navigating economic shifts, embracing digital transformation, and addressing sustainability and talent challenges in an era of rapid change.

Ahmed Abu Sharkh, managing partner at KPMG in Qatar, emphasised the resilience of the country’s business landscape, stating: “CEOs in Qatar are exhibiting innovation, endurance and agility as they navigate a constantly changing global landscape. They are preparing their businesses for long-term success by embracing generative AI and disruptive technologies, prioritising inclusive talent strategies, and reinventing ESG as a value creation engine.”

Economic sentiment among CEOs remains cautiously optimistic, with a strong emphasis on regulatory compliance and financial resilience.

The report indicates that while leaders see opportunities for expansion, they are also preparing for potential risks posed by global economic fluctuations and evolving tax regulations. 

Venkat, partner and head of Advisory at KPMG in Qatar, noted the increasing role of strategic agility in corporate decision-making, explaining that “Qatar's CEOs remain confident in their growth potential and the strength of the national economy, yet today's challenges highlight the critical need for resilience, adaptability, and forward-thinking strategies to navigate an evolving landscape."

The report highlights sustainability as a critical focus for businesses, with growing demands for transparency and accountability from stakeholders. CEOs are enhancing ESG disclosures and integrating sustainability into their corporate strategies.

Talent and workforce transformation remain key priorities, with business leaders emphasising the importance of upskilling and leadership development to attract and retain top talent.