Qatar Ranks High in GEM 2023/24 Report for Entrepreneurial Activity

According to the Global Entrepreneurship Monitor (GEM) 2023/24 report, Qatar has seen a significant increase in entrepreneurial activity. The country ranked third in the region and fifth in the National Entrepreneurial Environment Index (NECI).

Both the rate of established business ownership (EBO) and total early-stage entrepreneurial activity (TEA) have increased significantly, leading the consumer services industry, according to research.

TEA rose to 14.3% from 10.7% in the previous year, indicating a growing propensity for entrepreneurship in Qatari society.

Notably, 82.2% of Qatari individuals said they would choose an entrepreneurial career, the highest number in the previous five years.

In partnership with Global Entrepreneurship Monitor (GEM), Qatar Development Bank (QDB) released the GEM – Qatar National Report 2023/24.

Produced in collaboration with a global consortium of global entrepreneurship watchdogs led by Babson College in the US and London Business School, the annual survey 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 Qatar’s entrepreneurship dynamics, including its strengths and challenges. QDB CEO Abdulrahman Hesham Al Zawaidi said the data and analysis provided in this report will help formulate policies and strategies to support the local entrepreneurial ecosystem..

Qatar ranks third regionally in terms of the importance of social and environmental values, and the report indicates that Qatari entrepreneurs consider these values ​​prominently in their decision-making processes.

In addition, the report predicts significant growth in the entrepreneurship sector in terms of employment and international market exports, indicating a bright future for entrepreneurship in Qatar.

“This year, we saw Qatar achieve a score of 5.9 on the National Entrepreneurship Environment Index, beating the global average of 4.7 to rank fifth globally and third in the Middle East and North Africa (MENA). This progress encourages us to develop our initiatives and programs in line with the outcomes of the Third Qatar National Development Strategy and to rank Qatar’s entrepreneurial environment both locally and globally, said Al-Sawaidi.

QDB provides access to this report to provide accurate data and detailed analysis and improve their understanding of the challenges and opportunities in the Qatari and international markets.

The report provides a comprehensive analysis of entrepreneurial activities, attitudes and aspirations, serving as an important resource for researchers and entrepreneurs who aim to deepen their understanding of entrepreneurship globally.