Qatar leads the contract logistics market
Qatar's contract logistics market sees unprecedented growth
Qatar is the fastest expanding market for contract logistics in the GCC, according to a recent report in the Saudi Gazette.
Recording and expansion of 23.1 percent during the fiscal year of 2011, Qatar’s contract logistics market is estimated to be worth $118 million and climbing.
It hasn’t just been good news for Qatar. Other countries such as Saudi Arabia and the UAE have also seen extraordinary growth and the expectation is that it will continue.
With a current market value of $3 billion, a report produced by Transport Intelligence said that the Middle East will sustain a compound annual growth rate of 6.9% up until 2015, representing an increase of $700 million over the period of four years.
Speaking on behalf of South African based Barloworld Logistics, Frank Courtney who is chief executive for the EMEA region, said: "Business enterprises in the region are increasingly appreciating the real value of outsourced logistics services, particularly in terms of reduced overhead costs, stronger focus on core competencies, enhanced operational efficiency, superior health and safety standards and improved customer satisfaction through the implementation of world-class methodologies and best practices."