There has been a rapid growth in the construction, natural resource and financial sectors in the Middle East, especially in Qatar. As as result of this boom in its economy, Qatar is investing heavily in foreign countries. Government supported Qatar Investment Authority has also invested in Europe, especially in the banking, real estate and finance industries.
Unsurprisingly, Qatar has been named the host nation for the World Cup to be held in 2022. This growth seen in the economy of Qatar can only be supported by a simultaneous growth in its information technology capabilities. The expanding industries in Qatar need to be able to secure and store their data to remain viable.
Since Qatar is in need of effective IT solutions for its data security and web hosting problems, it is increasingly looking to Swiss-based IT solutions providers for answers. Qatar has already invested a lot of money in Swiss companies such as Credit Suisse and Xstrata with recent headlines showing that it owns a six percent stake in the former. Not only has it bought shares from Credit Suisse, it has also acquired the bank-s premium Canary Wharf property. Qatari companies are also investing in well-known, high-end hotel chains in Switzerland such as Hotel Schweizerhof based in Zurich. Since they have already established a stable economic relationship with Switzerland, the companies in this Arabian country are relying on IT companies in the country, to meet their growing IT needs.
Growing Need for Data Security and Storage
Crucial customer information acquired by companies, especially in the financial and banking sector, needs to be stored with maximum security. Firms dealing with such information rely on foreign technology firms to strengthen their technological capabilities, usually by outsourcing the storage and hosting needs. Large scale financial and banking firms in Qatar need to provide round the clock service to their clients via their websites and also need to prevent malicious hackers and spammers from accessing vital company information. Swiss data centres provide ideal and cost effective solutions to such companies. As customers expect online business transactions to be safe, secure and very fast, companies in Qatar are prompted to invest heavily in effective IT solutions.
Why Switzerland?
The Swiss Government has historically been neutral in the global political scenario and the nation has been a global leader in banking. Years of solid private banking and financial practices has made it an expert in this sector. Needless to say, Switzerland-s unbreakable stance on neutrality prevents it from being easily swayed by the whims of global politics. The widely known discreteness of the Swiss banking system, coupled with its stable economy, has made it the top choice of Qatari companies looking for secure data centres.
Clever financial practices have also made the Swiss currency inflation-proof, as Switzerland is one of the few countries that back a substantial percentage of its currency in gold. Also, Switzerland is largely immune to natural disasters, as a result of which it is home to large, secure, underground data bunkers. The political and financial scenario of Switzerland, the enormous data storage capacity of its data centres and lightening fast internet speeds will only continue to attract Middle Eastern companies looking for world class hosting solutions offered by the top companies in the country.
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