Effect of FIFA world cup 2022 on Qatar's Economy

Effect of FIFA world cup 2022 on Qatar's Economy

Introduction

This paper intends to discuss the possible expected affects of FIFA world cup 2022 on the economy of Qatar. Further, it will also highlight the various opportunities that shall be created due to world cup match in the country.

Located on the coast of the Arabian peninsula and surrounded by the Persian Gulf, Qatar is an oil-rich country with one of the fastest growing economies in the world.

Discussion

Hosting World Cup

Expenses on Infra Structure

Being a host of World Cup in 2022, Qatar has already made a financial plan and has allocated to spend approximately 100 billion dollar on various infra structure projects, which accounts for 87 percent of the Gross Domestic Product of Qatar.

Further, one of the main projects is to build a new airport worth $10 billion, which has already been started and is in full swing. Moreover, the other high profile projects are mainly related to tourism, transportation, education, housing sectors and health. To facilitate the tourists in future, establishment of rail and metro network worth $25 billion is also included in the plan.

Implications

Qatar can easily take advantage substantially from the current set of organized investing in common, which is all because of the effect of the World Cup. Ongoing financial development would be the main outcome, just when the fast-paced development, caused by the huge accumulate in potential in the hydrocarbon industry nowadays, was set to come to an end. This wide investing system will also help broaden the financial climate away from hydrocarbons. In addition to this, the private industry will have a higher part to perform, as the participation of non-hydro as well as relevant actions to the financial climate that will rise.

Spending and investing, particularly in the infra structure ...