DOHA, QATAR
Qatari firms’ hospitality boost: 16 public companies are now top enterprises in the region, per Forbes Middle East. They show resilience despite inflation and global instability. These firms have improved net income and profits from last year. The list predominantly features entities from the banking and financial services sectors.
Qatar National Bank ranks third regionally, per Forbes. It is the highest-ranking Qatari firm. QNB is also Qatar’s only entry in the top 20.
Other prominent Qatari organizations making it to the list include the Industries Qatar (IQ), Qatar Islamic Bank (QIB), Ooredoo Group, Commercial Bank, Masraf Al Rayan, Dukhan Bank, Qatar Fuel (WOQOD), Nakilat, Qatar Electricity & Water Company (QEWC), Qatar International Islamic Bank (QIIB), Barwa Real Estate Group, Doha Bank, Ahlibank, Mesaieed Petrochemical Holding Company (MPHC), and Qatar Navigation (Milaha).
Recognition of Qatari companies
This recognition of Qatari companies by Forbes Middle East bears testimony to the strong business environment and continued economic growth in Qatar. The steady profitability and business expansion demonstrated by these companies reflect the resilience and robustness of Qatar’s economy.
In terms of implications for the hospitality industry, the success of these businesses indicates a thriving economic environment that is conducive to tourism and business travel. Successful businesses attract international conferences, meetings, and industry gatherings, all of which contribute to a flourishing hospitality sector. The robust performance of these Qatari businesses also implies potential opportunities for partnerships, sponsorships, and collaborations for companies operating in the hospitality sector.
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