24 49 Qatar Economic & Commercial Activities Guide The World Travel and Tourism Council expects Qatar to receive 6.24 million tourists by 2028, with spending on the sector reaching 102.7 billion Qatari riyals, an increase of 9.1 percent annually until 2028. The data of the National Tourism Council indicate that the incentives for investment in tourism are represented in a package of facilities provided by the State to investors in addition to the great return achieved in the sector, especially since the State of Qatar enjoys a strategic geographical location that allows easy access to it from various countries of the world. This is in addition to the country’s rapid economic growth and the comprehensive tourism and cultural offers, as well as the government’s focus on supporting the tourism sector, hotels and high-level facilities that provide opportunities to host the best events in the world, such as the 2022 World Cup. The local high income that provides high purchasing power enhances the appetite for domestic tourism, in addition to exempting citizens of 88 countries from entry visas into Qatar as well as the global best performance of both Qatar Airways and Hamad International Airport. Tourism Sector... Qatar is the Land of Tourism Investment Opportunities Qatar Incentives and Investment Opportunities Qatar appears to be the land of investment opportunities in the tourism sector as a result of enjoying a rare competitive advantage availed to investors; to become among the first pioneers of a fast-growing market. In addition to supporting investment, the Qatari government intensifies its efforts to attract foreign investments. To that end, it offers incentives and new forms of facilities for foreign business owners, in addition to establishing a department to coordinate between local and international investors on the one hand and government agencies on the other hand. The authorities in charge are also working hard on developing a new licensing system that will speed up the licensing process for tourism companies. Qatar also provides foreign investors with a stable investment environment, especially with Qatar already investing nearly $200 billion in the infrastructure that supports the tourism sector, through projects including Hamad International Airport, Qatar Rail Project, Msheireb Downtown Doha Project, Qatar National Museum and Hamad International Airport. The leadership of the tourism sector in Qatar is also working with the competent authorities to develop data that will enhance Qatar’s openness to tourists and investors in the tourism industry. Among the incentives provided by the government to foreign investors under the Foreign Investment Law is the allocation of land for business activities under longterm lease contracts of up to 50 years, as well as exemption from income tax for up to 10 years in some sectors and permission to import necessary materials from for investment projects, in addition to many of the incentives that we discussed in the first chapter of this book, for further details. Tourism
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