How will Qatar benefit as a host?
It is questionable whether the World Cup will improve Qatar’s standing internationally or bring significant economic benefits.
The FIFA World Cup, the most-watched sporting event in the world, will be held in Qatar in 2022. It is hardly surprising that Qatar may get multiple advantages from hosting an event of this magnitude that goes well beyond the sports industry.
The development of infrastructure for receiving and accommodating visitors will positively impact the nation’s economy. The event is expected to be advantageous for the tourism sector as well. Over a million people are expected to come to Qatar during the World Cup, bringing in an estimated QAR 66 billion by 2025. In addition to boosting Qatar’s economy in the immediate term, a rise in tourists in 2022 will also have a positive long-term impact on the country’s economy by raising its international profile as a tourist destination.
This is how Qatar will benefit as a host country:
Significant Economic Benefits
The construction of the necessary infrastructure and the arrival of crowds of football fans will undoubtedly boost the nation’s economy significantly. In the past, Qatar had admitted that hosting the FIFA World Cup would lead to the creation of approximately 1.5 million new employees in important industries including hotels, Real Estate, and hospitality. It can undoubtedly increase its overall wealth if this proves to be true.
The event will also directly boost the tourism sector and greatly aid the country in increasing its earnings. One million visitors are expected for the World Cup, which will undoubtedly invest billions of Qatari Riyals into the nation’s economy. Therefore, it appears to be a win-win situation for the energy of the country.
Obtain a large amount of Foreign Investments
Foreign investment in the country will undoubtedly rise as a result of hosting such a large and well-attended sporting event. As soon as they realize how lucrative hosting the World Cup may be, several major businesses are expected to rush to the tiny Gulf nation. Qatar can benefit greatly from foreign investments since it can significantly diversify the economy of the country away from its reliance on oil and natural gas. This may even help to strengthen other industries, genuine estate, allowing them to become more competitive and compete on a global scale.
The 2022 World Cup, in the opinion of the Qatari agency for promoting investment, IPA Qatar, has a number of potential benefits for FDI. The Ministry of Commerce and Industry has “identified 83 commercial and investment opportunities for the private sector until 2023” related to planning for and managing the tournament, according to the report, which also notes that Qatar’s GDP has increased steadily at a rate of 4.5% since it was given the tournament in 2010.
Turn into a Sports Hub
There is no denying that a nation may quickly achieve an international reputation by hosting high-profile sporting events frequently, and a competition like the FIFA World Cup can push Qatar to new heights. The tiny Gulf state has been working hard to make this a memorable occasion for a long time and hasn’t spared any expense so far in this!
As a result, Qatar may become one of the most sought-after nations in the world to host numerous sporting events if the football World Cup is a success this year.
It should go without saying that Qatar has a lot to gain from the FIFA event, and the country is presently working furiously to secure the event’s smooth progress. This is the perfect chance for the Gulf Nation to demonstrate that it can host any event, regardless of its size or popularity, with flair. As a result, it is widely expected that Qatar will demonstrate its strength by presenting the sporting event’s Oscar equivalent with flair.
We have discussed how Qatar will benefit as a host country. Know more about how World Cup 2022 will impact Dubai’s Rental Market. If you need any assistance with buying the tickets for the matches and multiple-entry visas to Dubai that will allow you to go for the matches in Qatar, while you are enjoying your stay in Dubai, contact Masar Al Ameen Group! And don’t forget to share your experience with us!