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Saturday, October 23, 2021

Qatar to expect multi-billion dollar economic boost from World Cup 2022


According to Bloomberg, the FIFA 2022 World Cup will provide a major economic boost for host country Qatar.

Qatar’s hosting of the 2022 World Cup, one of the next biggest global sporting events since the start of the Covid-19 pandemic, will bring the host country a major economic boost.

“We anticipate the contribution to the economy essentially would be around about $20 billion,” said Secretary-General of the Supreme Committee for Delivery and Legacy Hassan Al Thawadi.

This sum is equivalent to almost 11% of the Qatar’s gross domestic product in the year 2019, though Al Thawadi added that more detailed projections won’t be known until after the event takes place at the end of 2022.

In an interview that is set to air during Qatar Economic Forum on Monday, Al Thawadi said that the construction and tourism sectors are expected to benefit the most.

Qatar has undertaken many infrastructure and construction projects ahead of the event, such as the building of multiple World Cup stadiums and other projects, including the metro system and the an expansion of the Hamad International Airport.

Bloomberg data estimates the total value of these projects at $300 billion.

Al Thawadi has also said the World Cup is “meant to serve as an engine to push forward and accelerate a lot of the initiatives that the government has already committed to, and already had planned, whether that’s in terms of urban development or economic diversification.”

Read also: Qatar to provide one million Covid-19 vaccines for World Cup fans

“We will be hosting a safe event, and we’re optimistic that it will be the first major tournament where everybody who wants to attend will be able to attend, said Al Thawadi.

Qatar has repeatedly said it is planning to host a Covid-free World Cup, and this week said it will provide one million shots of the vaccine to international spectators flocking to the country.Authorities have stressed that fans will not be allowed to enter stadiums without receiving the full doses of the vaccine.

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