Monday, 10 March 2014

IMF: Negative media attention could make Qatar a tough sell for expats - Doha News

IMF: Negative media attention could make Qatar a tough sell for expats - Doha News:



"The Qatar government’s efforts to diversify the country’s already booming economy is causing headaches for businesses grappling with rising costs, the International Monetary Fund has said. 




Additionally, the IMF said a slew of negative news stories about the living and working conditions of low-income laborers in this country may make some high-skilled expats think twice before moving to Qatar, especially as neighboring Dubai embarks on a building boom of its own ahead of the 2020 World Expo. 




That would affect the availability and cost of foreign labor, an essential component in this country’s recent economic growth.



In a recent report that paints an otherwise positive economic outlook for Qatar, the IMF said massive public initiatives – including the infrastructure building boom ahead of the 2022 World Cup – to wean the country’s economic dependence off of non-renewable oil and gas resources may be unsustainable."



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