Trove Highlights: How the hosting of the upcoming huge FIFA World Cup 2022 event may impact the economy of Qatar
This is a blog by Trove Associate Reema Maarouf.
Middle East’s first-ever FIFA World Cup is expected to offer Qatar an eccentric marketing potential to place the destination securely on the tourism map. Additionally, the Qatari government has previously predicted that up to 1.5 million new jobs might be created in Qatar by the 2022 World Cup, primarily in the tourist and hospitality industries both before and after the event.
“Given the reported limited space accommodations, this event has overall increased regional coordination efforts to accommodate such a large influx of tourists. It will also notably give a boost to the Qatari economy, with an estimated $17 billion in profits”, said Caroline Rose, head of the Power Vacuums Program at the Newlines Institute in Washington, to Al-Monitor.
This event is looking to highly impact surrounding GCC nations too. Commercial connections between Qatar and the UAE will progressively improve as a result of the flood of visitors and the reopening of their borders. Moreover, the reopening of the land, sea, and air corridors will make it possible for UAE football fans to travel to Qatar.
GCC nationals will also receive an on-arrival visa. The increased cash will benefit Qatar, while the UAE may provide supporters with a different location to base themselves in for the length of the event.
The GCC region will experience greater economic stability due to the two countries' renewed cooperation, according to Nazar Musa, CEO of PRO Partner Group, a renowned UAE business services provider.
Along with Dubai, the other Gulf States like Saudi Arabia and Oman are also making an effort to attract tourists. Both nations are organizing events to attract football enthusiasts and developing plans to streamline their travel arrangements for them. In fact, the Saudi Tourism Authority has made it quite clear that it expects to welcome close to 30,000 tourists for the World Cup in Qatar, and those who possess Qatar's Hayya fan card are welcome to apply for multiple-entry visas to the Kingdom.
IPA Qatar, the investment promotion agency of Qatar notes that Qatar’s GDP has grown at a steady rate of 4.5% since it awarded the tournament in 2010 and the Ministry of Commerce since then has identified 83 commercial investment opportunities for the private sector until 2023 that is related to preparing for the tournament.
Nasser Al Khater, the CEO of the FIFA tournament, has said that once the tournament is over he is expecting “the country’s focus to shift from infrastructure development to tourism.”
Below listed are key takeaways from a captivating conversation between the leading travel industry intelligence platform, Skift and the chief operating officer of Qatar Tourism, Berthold Trenkel:
Qatar Expects to bring in 1.5 million fans through FIFA World Cup 2022.
On infrastructural efforts and tourism asset building, in order to make the most of all lodging options, Qatar is currently building more hotels and tourism products. Fans will have novel options including camping in the desert and staying on a cruise ship that is temporarily anchored and offers views of Doha's skyline. Moreover, for the one million or more spectators anticipated throughout the duration of the 28-day tournament, Qatar will have up to 36,000+ keys. The Quest theme park, which has the tallest indoor shot and drops tower and an indoor rollercoaster in the world, is one of the most recent additions to the theme park industry. This is an opportunity for Qatar to showcase the world its spectacular hospitality
Development projects that are in progress in Doha during the FIFA World Cup include Qetaifan Island North, Katara Towers, Place Vendôme, Rosewood, Aljaber Twin Towers, Pullman Doha, Dream Doha, The St Regis Marsa Arabia Island, ME Doha and West Walk. Last but not least, the brand-new public transportation system - The Metro Rail - and feeder buses will be an important asset in building connectivity.
Qatar looks to both position itself as the destination for sporting events and meetings, incentives, conferences, and exhibitions and as a destination for family vacation, adventurous holidays, romantic getaways, and staycations
On sustainability, Qatar promises to hold a carbon-neutral FIFA World Cup and ensure that stadiums use sustainable approaches from the design stage all the way through construction and energy and water use. Sustainability is a fundamental theme of the stadiums. For instance, Stadium 974, made entirely of demolished ocean cargo containers, was constructed using recycled materials.
Hosting major events, festivals and fairs is crucial for boosting local economies. Trends show that sports and business events help build stronger and more diverse economies as they serve as a basis for attracting trade, foreign investment, talent, and global assets.
If you are looking to build a strategy focused on highlighting your destination’s potential or are looking to host a major event to attract tourists and build local partnerships, our destination advisors and investment consultants at Trove are eager to offer expert guidance and support.