The tourism industry in Qatar has started to attract visitors to such an extent that the hotel rooms are forced to add nearly 5000 more rooms to accommodate the tourists. The figures, released by regional consulting firm ValuStrat, attest to the success of the government’s robust measures to boost the tourism revenue.
The government had earlier approved visa-free entries to the citizens of more than 80 nations to encourage tourism sector.
The detailed analysis from ValuStrat revealed that the highest number of rooms will be added by the Minor Hotel Group, which is building two properties in Doha and one in Al Wakrah. The projects will be completed this year and add 350 more rooms.
Similarly, more rooms will be added in the Salwa Resort (next to Aqua Park), Grand Mercure Hotel, Zulal Wellness Resort, Ezdan Palace, M Gallary Boutique Hotel, Panaroma Residences and Suites and Dusit Hotel and Suites.
The luxury waterpark and four-star hotel launched by Katara Hospitality in Qetaifan Island Lusail will be complete by 2020. On the residential market, the report said the supply projections for 2018 have been adjusted upwards to 8,800 units due to delayed deliveries from 2017.
“Rents in Doha are expected to witness further corrections due to increasing number of project handovers,” the report added.
Coming to the office space, the report observed the increased availability in Lusail will continue to depress rental rates, unless there is an uptick in demand or a large number of users in secondary locations move to occupy offices in Lusail.
The report, quoting a World Bank projection, said the country’s population would grow to 2.69 million in 2018 and real GDP will grow by 3.1 percent.
“Inflation rate is estimated to remain modest and current account deficit is expected to reduce on the back of increased hydrocarbon revenues, while oil prices are expected to increase to $56 per barrel,” the report said.
The 2018 budget has dedicated enough amounts to projects related to the 2022 FIFA World Cup along with areas like food security, infrastructure, SMEs, tourism and free zones.