I think its doing ok.
the biggest worry in the middle east is inflation eroding the values of the liquid assests.
There are some indirect effects since Qatar has invested around the world with the petro dollars they accumulated. so some investments have devalued, but not a big deal since they are in it for the long term.
Now qatar is investing again all over in the firesale that is going on in europe and America and they are doing it as active investors rather than passive.
Tallg. you should have a spot check rate in your contract to cover the big changes in the exchange rate. however if you are like some expats who are paid in Uk and seconded, then it should mean the majority of living expenses are covered by employer.
Recruitment wise, yes there are cutback in jobs, but it seems that plenty of west expats are coming here for the finanace jobs. all the big investors (banks) are trying to move their capital into islamic finance here in gulf. but there is a dire shortage of the experienced bankers and lawyers(estimated 30k experienced staff required here in middle east over next 10 years), which means great news for my wife. She also tells me that commercial real estate here in qatar will go up
Qatar is not in denial about the problems, just that they are a little more cushioned for the impact.the dubai property market was in overhang and was just waiting to happen like US and UK.i have been told that Qatar went through a mild recession in 2005/2006, but this was not felt by most people here.
with regards to the rents. i have seen some here go up! but i suspect that is because the owners have lost money again on the markets( like they did 2 years ago) and jack up the rents to cover their losses.
Basically if you are here from the US or the UK you have had some advantages with those currencies, but you are generally better of weathering the storm here.
Before anyone thinks I'm gloating, I'm not. I am worried about my family and friends in the UK and Malaysia( to a lesser degree) who I know will suffer. I also feel concern for those on low incomes who were already having a hard time. The pressure on them is going to get worse and I expect there to be some sort of disruptive situation ocuring in response.
I think its doing ok.
the biggest worry in the middle east is inflation eroding the values of the liquid assests.
There are some indirect effects since Qatar has invested around the world with the petro dollars they accumulated. so some investments have devalued, but not a big deal since they are in it for the long term.
Now qatar is investing again all over in the firesale that is going on in europe and America and they are doing it as active investors rather than passive.
Tallg. you should have a spot check rate in your contract to cover the big changes in the exchange rate. however if you are like some expats who are paid in Uk and seconded, then it should mean the majority of living expenses are covered by employer.
Recruitment wise, yes there are cutback in jobs, but it seems that plenty of west expats are coming here for the finanace jobs. all the big investors (banks) are trying to move their capital into islamic finance here in gulf. but there is a dire shortage of the experienced bankers and lawyers(estimated 30k experienced staff required here in middle east over next 10 years), which means great news for my wife. She also tells me that commercial real estate here in qatar will go up
Qatar is not in denial about the problems, just that they are a little more cushioned for the impact.the dubai property market was in overhang and was just waiting to happen like US and UK.i have been told that Qatar went through a mild recession in 2005/2006, but this was not felt by most people here.
with regards to the rents. i have seen some here go up! but i suspect that is because the owners have lost money again on the markets( like they did 2 years ago) and jack up the rents to cover their losses.
Basically if you are here from the US or the UK you have had some advantages with those currencies, but you are generally better of weathering the storm here.
Before anyone thinks I'm gloating, I'm not. I am worried about my family and friends in the UK and Malaysia( to a lesser degree) who I know will suffer. I also feel concern for those on low incomes who were already having a hard time. The pressure on them is going to get worse and I expect there to be some sort of disruptive situation ocuring in response.