The panel discussion highlighted how Qatar is well equipped to navigate the global economic downturn and advised businesses and business owners on how they continue to thrive in these conditions
Doha, 4 April 2023 - Curia Business Group recently hosted an insightful panel discussion titled ‘Thriving in a Global Downturn’. Attendees had the opportunity to hear from distinguished speakers about how businesses in Qatar can leverage the current global economic situation and continue to thrive. The event was held in collaboration with Workinton, and hosted speakers from prominent organizations and institutes in Qatar.
The panelists included David Ford, CEO at Bin Yousef and Partner at Curia Business Group; Dr. Allan Villegas-Mateos, Senior Research Fellow of Entrepreneurship and Innovation at HEC Paris in Qatar and the Founder of the Observatory of Entrepreneurship & Innovation; and Nick Ashley, Co-Founder and Managing Director of Red Rock International. The panel was moderated by Joumana Elnaggar, Program Manager at Curia Business Group.
The speakers highlighted that Qatar had a distinct advantage at managing the current global economic slowdown, given the country’s experience in crisis management and its resilience. Qatar successfully navigated back-to-back economic turbulences in the past 6 years – the blockade and the COVID-19 pandemic.
Speaking about Qatar’s current standing, David Ford stated, “At the moment, Qatar is still enjoying the post-World Cup high, but a lot of businesses are wondering ‘What’s next?’. Qatar was able to dispel a lot of bad PR in recent months and has changed the perspective of people around the world on what Qatar has to offer. This has put Qatar in a stronger position to attract foreign investments as well as grow its local entrepreneurial ecosystem. Entrepreneurship is part of the culture here. Qatar was built on trading so it’s natural for locals to have a strong appetite for entrepreneurship.”
Qatar’s market, much like the rest of the world, is constantly and rapidly changing. The panelists emphasized the importance for businesses to get better at forecasting changes as well as continuously reevaluate their strategy. They also reiterated how valuable it is for businesses to leverage this economic downturn to explore new markets and segments that they can tap into. The speakers stressed that a slow market does not mean a lack of growth but rather it serves as an opportunity for businesses to innovate and set up for success once the slowdown has passed.
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