The World Cup Brings Great Gains to Qatari Economy

  • Publish date: Monday، 11 July 2022
The World Cup Brings Great Gains to Qatari Economy
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As the countdown to the start of the FIFA World Cup Qatar 2022 begins, economists are raising a number of questions about the extent to which the tournament will reflect on Qatar's economic performance in the medium and long term, in light of what many research centers and international institutions expect from the good performance of the Qatari economy, despite the successive crises that the world is currently going through, and what may result from a slowdown in economic growth and an unprecedented rise in inflation rates.

Despite the pessimistic expectations of the global economy, the Qatari economy is tweeting outside the fray, and according to the testimony of the International Monetary Fund, which recently expected that the economic growth rate of Qatar would reach 4.9 percent, supported and driven by many basic factors, foremost of which is the continuous rise in gas prices, and the country’s hosting of a championship FIFA World Cup Qatar 2022.

According to recently announced official figures, the direct financial returns from organizing the FIFA World Cup Qatar 2022 are estimated at about 8 billion riyals ($2.2 billion), while the long-term economic returns, during the period from 2022 to 2035, are estimated at 9.9 billion riyals ($2.7 billion), amid expectations that tourism revenues will rise, which is expected to flourish during the World Cup and beyond.

In this context, His Excellency Sheikh Faisal bin Qassim Al Thani, President of the Qatari Businessmen Association, confirms, in a statement to Qatar News Agency (QNA), that since the announcement of Qatar’s victory in organizing the World Cup, the government has been working in partnership with the private sector to complete infrastructure in addition to the service projects.

His Excellency explained that the World Cup is an appropriate opportunity to achieve the goals of Qatar Vision 2030 and said: "More than $200 billion has been spent on basic utilities such as roads, bridges, ports, airports, subways, housing, tourism, and free zones, and this infrastructure will turn into gains after completion. of organizing the upcoming tournament.

His Excellency added: "The World Cup will be a strong point for attracting foreign investment, which is what we are currently working on in our external presence and promotion of Qatar, and it will reflect positively on the country's future as an investment and tourism destination capable of raising competition challenges."

Reports confirm that such benefits to the economy are evident by extrapolating the results of the past World Cup tournaments, especially those held in 2006 in Germany, which contributed to raising the ranking of its brand on the global scale from No. 7 to No. 1.

Hence, the World Cup FIFA Qatar 2022 will, according to reports, play the same role that the World Cup played in Germany by raising the brands of major Qatari companies.

Reports indicate that the effective management and good marketing of the country's brands will contribute to creating long-term commercial value, in addition to its role in driving the growth of the total output for more than 25 years to come.