A professional financial planning service dealing with international workers and expatriate clients across the UK and mainland Europe is trying to challenge the wisdom of Dubai expats. But no matter what someone says, keeping a mind of your own is always, even if not the most profitable, at least a signature approach to life.
Qatar is fast becoming the jewel in the Gulf crown as its high growth prospects lure expats, according to Guardian Wealth Management.
Once the reserve of oil and gas riches, Qatar’s booming economy and appetite for developing non-oil sectors has attracted the international spotlight, especially in light of looming regulatory changes in the United Arab Emirates.
David Russell, chief executive officer of GWM Qatar LLC, said: “Upcoming regulatory changes to the investment fund sector in the UAE have understandably made businesses nervous. Those expats seeking to make the most of more tax-efficient financial hubs expect to benefit from a lucid and uncomplicated system, which Qatar currently offers.
“Since its victory in securing the World Cup in 2022, Qatar has been making a concerted effort to boost its financial services industry and prove itself among Middle Eastern counterparts.
“As well as its colossal oil and gas industry, Qatar’s enthusiasm for growing its infrastructure and manufacturing sectors means it has one of the lowest unemployment rates in the Middle East and enjoyed the highest per capital income in the world last year.”
The infrastructure as a result of the World Cup will see enormous changes take place, including the development of new residential areas, new ports and airports, as well as a new railway system and the continuous development of road networks, the financial advisory company said.
“All industries are booming in Qatar and unlike many other areas around the world, there are no expectations for this to change. The growth of the country is based on sound fundamentals and thus the job market is very fertile,” explained David. “With the added benefit of tax-free earnings, increasing numbers of expats are moving to Qatar as it becomes the Middle Eastern flagship for social, financial and cultural development.”
