Worldwide Medical Insurance News: Qatar 'emerging expat destination' -
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Worldwide Medical Insurance News: Qatar 'emerging expat destination'

Many people are relocating abroad to Qatar, an organisation has claimed.

Guardian Wealth Management (GWM) told the Telegraph that the country's large, expanding economy and appetite for industries other than oil has resulted in a high number of expatriates.

Changes to regulation in the United Arab Emirates (UAE) are supporting this, it added.

The financial planning company recommended anyone moving to this country should cover themselves with expatriate health insurance, which enables them to take advantage of its employment opportunities, while preventing any long-term diseases from scuppering their plans.

Chief executive officer of GWM Qatar David Russell told the publication the nation has a "lucid and uncomplicated" tax system, while changes to rules in the UAE have made corporations nervous about investing in that country.

Qatar has one of the Middle East's lowest unemployment rates and had the highest per capita income in the world during 2011, he pointed out.

Furthermore, while its gas and oil sector is "massive", the country is enthusiastically expanding into other industries such as manufacturing and infrastructure upgrades, the specialist noted.

Financial institutions are trying to demonstrate their skills to regional competitors and it is becoming a banking hotspot, he remarked.

Mr Russell called Qatar's employment market "very fertile", arguing the country's economic growth is based upon "sound fundamentals" and is therefore not expected to change in the immediate future.

The country also recently secured the World Cup, which provided it with money to spend on public works.

It has therefore developed a range of transportation routes, including train and road networks, as well as air and sea ports.

Furthermore, a range of new residential areas have been created and expats may be able to secure jobs in engineering or construction, the Telegraph stated.

However, expat blogger for the publication Ulrike Lemmin-Woolfrey told the newspaper that while employment opportunities are being generated, the cost of living and rent is rising.

She pointed out expatriates may find life difficult due to prohibitions relating to alcohol and pork.

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