HSBC officials during the roadshow.
Doha: More than 170 people gathered in Doha for the start of HSBC’s 16th Middle East Economics Roadshow. Over the next month, the event will travel to Saudi Arabia, Abu Dhabi, Dubai, Kuwait and Oman. The event, held at the Four Seasons, Doha, saw Stephen King, Group Chief Economist, David Bloom, Global Head of Foreign Exchange Strategy, and Simon Williams, Chief Middle East Economist, discuss the most important global and regional trends to watch in 2014.
Stephen King said: “During its golden age, the Middle East possessed enormous economic power, with commerce, communications and transport reaching across Europe, Africa, and Asia. Once again, the region — which consists of more than 20 countries with a population of more than 400 million people — has the potential to become an emerging market leader and engine of world growth.”
Simon Williams said: “Qatar is the fastest growing and richest country in the Middle East. It remains one of the strongest growth stories in the region, with the highest GDP per capita, some of the largest surpluses and the fastest growing non-oil sector. Looking forward, the recent upgrade to ‘Emerging Market’ status will capture the attention of institutional investors in 2014 and, longer-term, the World Cup will trigger $70bn of infrastructure spend. Transforming the country from a hydrocarbon economy to a knowledge economy in time for the post-oil afterlife is the longer-term challenge, but there is strong evidence good progress is being made.”
The Peninsula
