KPMG launches 2024 Qatar CEO Outlook: Business leaders embrace transformation amid uncertainty
As organizations respond to global uncertainties, Qatar's CEOs remain optimistic about long-term growth, with many prioritizing resilience, technology adoption, and regulatory adaptability. The report reveals that 64% of Qatar's CEOs expect to see returns on their investments in generative AI within the next three to five years, underscoring a strong commitment to innovation. Additionally, 80% recognize AI as both a disruptor and a competitive advantage, reinforcing its transformative role across industries. However, leaders also acknowledge the challenges ahead, including ethical considerations, regulatory complexities, and evolving workforce dynamics.
Ahmed Abu Sharkh, Managing Partner at KPMG in Qatar, emphasized the resilience of the country's business landscape, stating 'CEOs in Qatar are exhibiting innovation, endurance and agility as they navigate a constantly changing global landscape. They are preparing their businesses for long-term success by embracing generative AI and disruptive technologies, prioritizing inclusive talent strategies, and reinventing ESG as a value creation engine.'
Economic sentiment among CEOs remains cautiously optimistic, with a strong emphasis on regulatory compliance and financial resilience. The report indicates that while leaders see opportunities for expansion, they are also preparing for potential risks posed by global economic fluctuations and evolving tax regulations.
Venkat, Partner and Head of Advisory at KPMG in Qatar, noted the increasing role of strategic agility in corporate decision-making, explaining that 'Qatar's CEOs remain confident in their growth potential and the strength of the national economy, yet today's challenges highlight the critical need for resilience, adaptability, and forward-thinking strategies to navigate an evolving landscape."
The report highlights sustainability as a critical focus for businesses, with growing demands for transparency and accountability from stakeholders. CEOs are enhancing ESG disclosures and integrating sustainability into their corporate strategies. Talent and workforce transformation remain key priorities, with business leaders emphasizing the importance of upskilling and leadership development to attract and retain top talent.
The KPMG 2024 Qatar CEO Outlook provides actionable insights for businesses to navigate the shifting landscape. As organizations prepare for the future, understanding these key trends will be critical for sustainable growth and competitive advantage.
To access the full report, visit: kpmg.com/qa
About KPMG in Qatar
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited ('KPMG International') operate and provide professional services. 'KPMG' is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 142 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
For more detail about our structure, please visit kpmg.com/governance.
For media inquiries, please contact:
Huda Ibrahim
hudai@kpmg.com
KPMG in Qatar
Bassel Abou Ayash
babouayash@kpmg.com
KPMG in Qatar
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