Travel spending in Qatar hits $3.59bn in Q1

 RIYADH: Travel spending in Qatar surged 28

percent year-on-year to 13.1 billion Qatari

riyals ($3.59 billion) in the first quarter of

2023, driven by a boom in social, cultural and

other activities

According to the balance of payments data

issued by the Qatar Central Bank, Doha's

revenues from travel during the first three

months of the year amounted to 6.8 billion

riyals, up 52 percent when compared to the

corresponding period in 2022.

However, the spending on transportation saw

a drop of 12.3 percent to 9.7 billion riyals

during the first quarter of 2023, against 11

billion riyals recorded in the same period a

year ago.

Qatar's balance of payments data further

show that the gas-rich nation made direct

investments of 3.4 billion riyals abroad during

the first quarter of 2023, reflecting a growth of

29.6 percent when compared with the same

period last year.

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With regard to direct investments in Qatar

the amount fell 83.9 percent to 717 million

riyals in the first three months of 2023.

against the 4.47 billion riyals recorded in the

corresponding period a year ago.

As for exports, Qatar's value reached 95.8

bilion during the first quarter of the yeə

reflecting a 7 percent drop in compariso.. o

the same period a year earlier.

On the other hand, the value of imports

amounted to 25.5 billion riyals in the first

quarter of 2023, down 10.4 percent compared

to the first three months of 2022.

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