Qatar's stock market to suprass Dubai's in 2014?
Dubai has emerged as a cosmopolitan metrapolis that has grown on an international level becoming a major global city and a business and cultural hub of the Middle East and the GCC. All of these factors have enabled Dubai to be labeled as the region's best stock performer in 2013.
While things are looking steady for Dubai, Qatar is gearing up to take the spot as the region's top stock performer.
Historically, Qatar's economy was dependant on the oil industry, however over the past years Qatar has venturedd off into other sectors such as education, business, helath, and toruism.
According to an article on the Wall Street Journal, "Dubai’s benchmark DFM index is already up some 13% this year, after piling on a whopping 108% in 2013. Qatar, its Persian Gulf neighbour, isn’t far behind with its main stocks gauge up 9% in January following a relatively modest 24% gain last year."
After the global economic crisis a few years ago, Dubai has made a comeback by reviving its tourism sector, and witnessing a positive interest in real estate- a major factor of its economy. In addition, last year it was announced that Dubai will be hosting the World Expo 2020.
Nevertheless, Qatar's economy was not hit as hard as Dubai during the crisis and as Qatar experiences hydrocarbon sales worth billions of dollars it is also prepping for the one the world's largest sporting tournamments- the 2022 FIFA World Cup.
So what do you think? Will Qatar take over in 2014?
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Photo: MFEYE in the QL Flickr Group
