Gulf Arab country to be the largest regional spender as it gears up for the 2022 FIFA World Cup
With Qatar expected to spend as much as $41.8bn on railway projects, the Gulf Arab country is expected to top spending amongst the GCC, creating significant country growth, investment and job opportunities for nationals.
According to data in a Zawya report, commissioned by the Big 5 2012, the GCC as a whole will see railway projects worth a total of $149bn being completed over the next decade.
With a number of projects at various stages of development as the country gears up for the FIFA 2022 World Cup, Qatar remains one of the most buoyant markets in the GCC, the report said.
These projects will include national and inner-city railway systems, some of which will ultimately become part of the regional-wide GCC Rail project. It is expected to generate significant employment for GCC nationals, promote social integration and economic development.
Furthermore, the report said that the GCC Rail would help advance the region’s initiatives on the common market and facilitate trade throughout the GCC. Also, through its development, the project is likely to fuel the growth of national railway industries amongst the member nations.
In turn, the countries will see an alleviation of congestion and a reduction of maintenance costs for roads and highways, the report concluded.