Like other Gulf countries, Qatar has been marching ahead with an ambitious plan to diversify its economy, planning for a life after oil.

And its efforts to build a more rounded and resilient economy have been showing results. 

The gas-rich country’s non-energy sector has been witnessing improved business conditions, higher output, and strong demand for goods and services, with the latest Purchasing Managers’ Index (PMI) survey data indicating an acceleration in growth. 

The latest Purchasing Managers’ Index (PMI) survey by Qatar Financial Centre and S&P Global registered 51 in February, up from 50.4 in January.  

The survey shows that the coming 12 months were the most positive since last September, owing to new business development plans, new clients, and marketing campaigns. 

The headline PMI showed total business activity increased in February at the fastest rate in three months. Output and employment increased while the rate of new business growth was maintained. Input prices also rose in February, influenced by wages and purchase costs.

“The PMI rose further in February, reflecting sharper gains in output and employment in the Qatari non-energy economy,” said Yousuf Mohamed Al-Jaida, chief executive of the Qatar Financial Centre. 

Companies are hiring talent faster in five months, with financial services registering as the strongest job creation. 

The Innovation By Design Summit is in Doha on April 24. Attendance at the summit is by invitation only. Delegates can register here to receive their exclusive invite.