The recent release by the Government Communications Office (GCO) sheds light on the significant impact of Web Summit Qatar 2024, held in February, emphasizing its role in bolstering startups, enhancing entrepreneurship, and solidifying Qatar’s position in the global tech arena.

Held at the Doha Exhibition and Convention Center (DECC) from February 26th to 29th, the event showcased Qatar’s prowess on the world stage, attracting investments, entrepreneurs, and attention from across the globe.

According to Sheikh Jassim bin Mansour bin Jabor Al-Thani, Director of the Government Communications Office and Chairman of the Web Summit Qatar 2024 Organising Committee, hosting this prominent tech conference aligns with Qatar’s efforts to diversify its economy. The inaugural edition of Web Summit in Qatar demonstrated promising economic returns, with expectations for further growth in subsequent years.

The report highlights the event’s impressive statistics: 15,453 attendees from 118 countries, resulting in over 19,000 flight segments and 38,000 hotel nights booked. Moreover, more than 200 companies registered under the Qatar Financial Centre, showcasing the summit’s role in positioning Qatar as a regional tech hub.

Attendees spent an average of QR 11,000 during their stay, contributing to the local economy. The significant influx of companies into the Qatar Financial Centre was a direct outcome of Invest Qatar’s Startup Qatar initiative, aimed at supporting startups with funding, incentives, and logistical aid.

During the summit’s opening night, HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani announced a $1 billion investment to support entrepreneurs not only in Qatar but also globally.

Web Summit Qatar 2024 also served as a platform to exhibit Qatar’s technological innovations and hospitality, attracting interest as a business and tourism destination. With the majority of attendees visiting Qatar for the first time, an overwhelming 95 percent expressed intent to revisit for business or leisure purposes.

Moreover, the event fostered potential business collaborations, with 85 percent of attendees considering doing business in Qatar and 70 percent contemplating working in the country.

Occupying all five exhibition halls at the DECC and utilizing 29,035 square meters of space, the summit showcased over 145 partners and facilitated collaborations between international and Qatari companies.

The event witnessed the signing of 24 Memoranda of Understanding between Qatar-based entities and leading tech firms worldwide. Notably, an agreement with TikTok was signed to establish its first creative studio in the region, supporting content creators.

With plans to leverage the Web Summit platform until 2028, Qatar aims to continue driving its tech economy, fostering an entrepreneurial ecosystem, nurturing talent, and solidifying its position as a key player in the global tech landscape.

(Source: QNA)