Qatar’s retail sector forecasts steady growth in Q1 2023 – The Peninsula

Qatar’s retail sector forecasts steady growth in Q1 2023 – The Peninsula

The retail industry in Qatar is poised to augment steadily benefiting the economy of the country during Q1 of 2023.

A report by BFL group, a global retail store based in the UAE stated that Qatar’s retail market looks positive in the first quarter of the year with steady population growth, high net-worth expatriates and individuals, and the successfully concluded FIFA World Cup 2022. The report said that “The government’s assistance in easing travel restrictions, bolstering the investment landscape, and streamlining retail infrastructure also contributed to the industry’s revival and boosted recovery by promoting tourism.”

Last year the retail industry performed fairly well with the expansion of projects and foreign investments in Qatar.

The country has been achieving this remarkable foot as more expats are welcomed to the region and with significant growth in the vacant lands that were leased.

Qatar opened its door to more state-of-the-art projects including malls, stadiums, and other infrastructures that boosted the country’s economy with more retailers.

BFL Group’s CEO and Co-founder Toufic Kredieh said: “As part of our expansion plans for 2022, we have successfully opened a number of stores across the GCC, in countries like Saudi Arabia, Kuwait, Oman, and Qatar. Due to the growing retail market and