Doha: Economic observers, research centers and international agencies say that the first FIFA World Cup football tournament in the Middle East and the Arab world will have a big impact on Qatar’s economic sector in the short and long term. At a time when the world is facing a severe financial crisis and inflation, Qatar’s financial sector is predicted to have a bright future.
While the global financial system has a bleak future, Qatar is moving in the opposite direction. According to International Monetary Fund (IMF) reports, Qatar’s GDP will increase by 4.9 percent. The IMF points out that the major factors behind this are the huge increase in natural gas prices and the hosting of the FIFA World Cup.
According to a recently published report, direct revenue from the World Cup to the Qatari economy is estimated at 8 billion riyals ($2.2 billion). According to the report, the long-term revenue for the period from 2022 to 2035 will be 990 billion riyals ($2.7 billion).
Qatari Businessmen Association Chairman Sheikh Faisal bin Qasim Al Thani told Qatar News Agency that since Qatar hosted the World Cup, the government and the private sector have been working tirelessly to complete infrastructure development works and other service projects. Sheikh Faisal Binqasim Althani explained that the World Cup football tournament is a golden opportunity to achieve the goals of Qatar National Vision 2030 and that Qatar has already spent 200 billion dollars on roads, bridges, airport, metro, housing, tourism, free zone, etc., and after the tournament, all of these will benefit Qatar’s economic sector.
Sheikh Faisal Althani stated that World Cup football is a big factor in attracting foreign investment and the country is taking measures to promote foreign investment as a part of this and indicated that all this will reflect as a big investment and tourist destination for the future of the country.
According to the reports prepared in the light of the previous World Cup experience, it is predicted that the brands of the big Qatari companies will come to the fore at the global level.
Reports also point out that German brands, which were seventh globally, reached the first rank after the 2006 World Cup. It is expected that the World Cup will be a great asset to the tourism sector as it will provide a great tourism experience to the 15 lakh game lovers who will come to the World Cup.