Qatar ranks third in Mena, fifth globally in National Entrepreneurship Context Index
The report reflects a substantial jump in Total Early-Stage Entrepreneurial Activity (TEA) and a rise in the Established Business Ownership Rate (EBO), particularly in the consumer services sector.
The TEA increased to 14.3% against 10.7% the previous year, reflecting a growing interest in entrepreneurship within Qatari society, it said.
Notably, 82.2% of the adults participating in the study in Qatar, view entrepreneurship as desirable career choice, the highest percentage recorded in the past five years.
In collaboration with the Global Entrepreneurship Monitor (GEM), Qatar Development Bank (QDB) launched the GEM – Qatar National Report 2023/24.
This annual study, produced in collaboration with the Global Consortium of Global Entrepreneurship Monitor, led by Babson College in the US and London Business School, provides valuable insights and comparative data with other countries in the region and around the world.
“The GEM report is an essential resource for understanding the dynamics of entrepreneurship in Qatar, including its achievements and challenges. The data and analyses provided in this report assist in formulating policies and strategies that support the local entrepreneurial ecosystem,” said QDB chief executive officer Abdulrahman Hesham al-Sowaidi.
Qatar also ranked third regionally in terms of Importance of social and environmental values, with the report noting that Qatari entrepreneurs consider these values particularly important in decision-making processes.
Additionally, the report predicts substantial jump in the field of entrepreneurship in employment and international market exports, signalling a promising future for entrepreneurship in Qatar.
“This year, we have seen Qatar achieve a score of 5.9 in the National Entrepreneurship Context Index, surpassing the global average of 4.7, placing it fifth globally and third in the Middle East and North Africa (Mena). This progress motivates us to further develop our initiatives and programmes in line with the outcomes of the Third Qatar National Development Strategy and improving Qatar’s entrepreneurial environment ranking regionally and globally,” al-Sowaidi said.
QDB provides access to this report to deliver accurate data and detailed analyses to support entrepreneurs and enhance their understanding of the challenges and opportunities in the Qatari and international markets.
The report offers a comprehensive analysis of entrepreneurial activities, attitudes, and aspirations, serving as a vital resource for researchers and entrepreneurs aiming to deepen their understanding of entrepreneurship on a global scale.
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