Expats in Qatar spend 40% on housing: MEC

Expatriates in Qatar spend about 40% of their expenditure on housing; while nationals spend more on food, transport and overseas travel, according to the Ministry of Economy and Commerce (MEC).

Consumer expenditures in Qatar are primarily driven by housing, food, transport and travel abroad, together which make up nearly three-quarter of overall expenditure in the country with housing alone representing over a quarter, MEC said in its new macroeconomic model, prepared in collaboration with the Ministry of Finance, the Ministry of Development Planning and Statistics, Qatar Central Bank and Qatar Petroleum.

The new model, which was unveiled by Prime Minister HE Sheikh Abdullah bin Nasser bin Khalifa al-Thani on Tuesday, presented four scenarios — True Diversification, Lost Advantage, Energy Plus and New Pocket — based on the outcome of global growth and domestic competitiveness.

The upside true diversification and energy plus scenarios assume the global economy and oil prices as relatively strong and the downside lost advantage and new pockets scenarios assume the global economy and oil prices as relatively soft.
 
 
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Source News: Gulf Times