Although not yet in the top 20 world ranking in terms of subscribers, Qatar Telecom (Qtel) is well on its way to reaching its vision. If it can maintain growth and diversify its portfolio further, it should have the ability to reach the top 20 before 2020.

The backing of the immensely wealthy Qatari state, which is investing heavily in diversifying its economy and technological advancements, is likely to strengthen Qtel’s position, both domestically and internationally. But the company is still constricted by wider industry trends, including increased competition and a shift away from voice to data services.

Unlike other regional operators, Qtel is not dependent on its home market, which given the size of the Gulf state is a benefit. To further drive growth, it will need to focus on emerging markets and monetising data.