Latest news with #QR2.6bn
Zawya
08-04-2025
- Business
- Zawya
Burgeoning demand for travel enhances Qatar's aviation sector
Doha, Qatar: Qatar's aviation and tourism sectors are poised for remarkable growth, driven by the expansion of Qatar Airways and the burgeoning demand for travel in the region by the year-end. According to a report by Statista, the flight market in Qatar is expected to reach revenue of $727.64m (QR2.6bn), with an annual growth rate of 5.42 percent. This growth trajectory is forecast to continue, bringing the market's volume to $898.75m (QR3.2bn) by 2029. This surge is a testament to Qatar's strategic positioning as a global hub for aviation. Qatar Airways, with its expanding route network and strategic partnerships, plays a central role in this growth. As the airline continues to add new destinations and improve its services, it solidifies its place as a dominant player in the competitive Middle Eastern flight market. The airline's commitment to offering unparalleled service and connectivity has attracted millions of passengers, not only boosting the country's aviation industry but also elevating Qatar's status on the global stage. The report also notes that by 2029, the flight market in Qatar is projected to have more than 927,000 users, with a penetration rate increasing from 27.7 percent in 2025 to 32.7 percent by 2029. This growth in users reflects Qatar's increasing appeal as a destination for both business and leisure travellers. The country's infrastructure, combined with its strategic location between Asia, Europe, and Africa, has made it an attractive hub for international travel, further fuelling the rise in air traffic. An exciting trend in the industry is the shift towards online sales, with projections indicating that 84 percent of the total revenue in the flight market will be generated through online channels by 2029. As digital platforms become the primary method of booking flights, airlines, including Qatar Airways, are investing heavily in improving their online presence and user experience. This transition to digital sales not only makes travel more accessible but also aligns with global trends in e-commerce and convenience. Statista said that the United States is expected to lead the global flight market, generating a staggering $146bn (QR531.59bn) in 2025. However, analysts at the global research platform stress that Qatar's aviation market is not far behind, showing resilience and optimism as it expands. As the country builds on its strengths in aviation, the tourism sector is also benefiting, with the influx of international visitors further boosting the economy. With the given data, Qatar's aviation and tourism industries are expected to thrive by 2029, as Qatar Airways is at the helm, steering the nation toward becoming a world-class travel destination. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
25-03-2025
- Business
- Zawya
Qatar: Mekdam Holding to shore up presence in high-growth sectors
Qatar - Mekdam Holding is 'aggressively' pursuing opportunities within the QR3bn pipeline under negotiation as it seeks to strengthen its presence in high-growth sectors such as technology and engineering. 'As Mekdam Holding Group looks ahead to 2025 and beyond, the focus remains on accelerating profitability, expanding market reach, and enhancing financial sustainability,' the Qatar Stock Exchange listed entity said in its board report, placed before shareholders at the annual general assembly meeting, which approved 2024 results and the bonus shares. On strengthening the presence in high-growth sectors, Mekdam said it included technology services, engineering solutions, and security systems so as to ensure steady revenue growth and diversification. 'As we look to the future, we are motivated by the remarkable strength and resilience of the Qatari economy, which continues to evolve and unlock vast opportunities across a wide range of sectors,' said Sheikh Mohamed bin Nawaf bin Nasser bin Khalid al-Thani, Mekdam Holding chairman. The company, which is leveraging strong backlog of secured contracts (QR2.6bn), said its subsidiaries possess several key advantages that position them to capitalise on local, regional, and international trends within the information, communication and technology or ICT sector. Some of these opportunities arise from the macroeconomic factors, while others are directly tied to the subsidiaries' unique competitive strengths, the report said. In 2024, Mekdam signed new contracts totalling QR861mn, with ongoing projects valued at QR2.6bn. The remaining value of works to be completed is QR1.5bn. The company has submitted proposals for projects amounting to approximately QR3bn, with an expected success rate of 20% to 30%, based on historical data. The subsidiaries – Mekdam Technology Solutions, Mekdam Software, and Mekdam CAMS – have established strong relationships with government agencies, with government contracts accounting for 58.6% of their revenue in 2024. 'Given their size, the quality and diversity of their services, and their strategic positioning, the subsidiaries are well-placed to take full advantage of the growing demand and evolving requirements in the ICT sector,' it said. The perceived market opportunities for the subsidiaries are growth of the Qatari economy, alignment with Qatar Vision 2030 and its emphasis on ICT development, increasing awareness of cybercrime and the need for enhanced security, demand for businesses to stay aligned with cutting-edge technologies, such as automation, robotics, cloud computing, and shortage of qualified personnel in the ICT sector. The company is aiming not only to further optimise capital structure and reduce financial liabilities, reinforce self-sustaining operational capabilities but also to maximise cash flow generation through efficient receivables management and project execution. Mekdam Holding is strengthening its financial flexibility to ensure that the group is well-positioned for strategic investments and shareholder returns. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Santhosh V. Perumal
Zawya
10-02-2025
- Business
- Zawya
Qatar Chamber explores trade ties with Australian state of Victoria
Qatar Chamber board member Mohammed bin Ahmed al-Obaidli and Gonul Serbest, Commissioner for Victoria to Europe, the Middle East, Turkiye, and Africa, discussing trade and investment in the presence of Shane Flanagan, Australia's ambassador to Qatar. Qatar Chamber has discussed trade and economic co-operation with the Australian state of Victoria during a meeting between board member Mohammed bin Ahmed al-Obaidli and Gonul Serbest, Commissioner for Victoria to Europe, the Middle East, Turkiye, and Africa. The meeting, which was also attended by Shane Flanagan, Australia's ambassador to Qatar, focused on the economic sectors in which both sides aim to enhance co-operation, the potential for forming business alliances between Qatari and Australian companies, as well as the investment climate and available opportunities in both countries. Serbest lauded the strong trade and economic relations between Australia and Qatar, highlighting the mutual interest in strengthening these ties, particularly between the private sectors of both countries. She also referred to the Memorandum of Understanding signed between the Qatar and Australia chambers of commerce in May, which opens up wide avenues for co-operation. Al-Obaidli commended the strong bilateral relations between Qatar and Australia, emphasising Qatar Chamber's interest in fostering genuine business partnerships between the two countries. He said Qatar imports a variety of food products from Australia amounting to approximately QR1.9bn in 2024, while the total trade exchange between the two countries reached QR2.6bn, underscoring Australia's significance as a key trade partner for Qatar. Al-Obaidli reaffirmed Qatar Chamber's readiness to assist Australian companies seeking to enter the Qatari market by providing information on the investment climate, incentives offered to foreign investors, and key target sectors such as technology, food security, and services. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
