Qatar poised to lead Gulf growth in 2026: HSBC economist

Doha: The 2025 HSBC Global Economist Roadshow, brought together almost 100 clients, partners, and senior executives to discuss global economic trends and Qatar’s strengthening role as a driver of growth and innovation across the Gulf.

Opening the event, Arhab Ghandour, HSBC Qatar Chief Risk & Compliance Officer, said: “Built on strong fundamentals and a clear national vision, Qatar’s economy continues to navigate change with purpose. Our commitment to Qatar’s future is long-term and strategic, and our relocation to Msheireb underscores our belief in innovation, sustainability, and progress. Together with our partners and clients, we are helping shape what comes next.”

Held amid a complex global environment marked by geopolitical shifts, evolving trade corridors, and technological disruption, this year Roadshow provided insights into the opportunities and challenges shaping the world economy and their implications for Qatar and the wider region.

Sharing insights on global and regional trends, Janet Henry, HSBC Global Chief Economist, said: “The Fed should be able to cut rates by another 50bps as the softening labour market tips the balance back to easing, but with sticky inflation and a relatively resilient economy supported by fiscal stimulus, the markets seem to be pricing in too many rate cuts in 2026.”

Paul Mackel, HSBC Global Head of FX Research, added that “The US Dollar has had a volatile year so far, initially riding on a wave of optimism before suffering one of its largest defeats. The outlook still points to a soft USD in the months ahead.”

Meanwhile, Simon Williams, HSBC Chief Economist for CEEMEA, commented, “Rising gas production will see already high levels of wealth rise further in the coming two years, and should position Qatar as the fastest-growing economy in the Gulf next year. Momentum in the non-gas sector will depend on the strategic choices policymakers take to give Qatar an edge in what has become a highly competitive region.”