Having begun the countdown to the FIFA World Cup Qatar 2022, economists are wondering how the tournament will affect Qatar's economy over medium and long terms, given the very positive performance that many research centers and international institutions are expecting from Qatar's economy, despite successive crises in the world, slow economic growth, and atrocious inflation rates.
Global economic forecasts are gloomy, but Qatar's economy appears to be on a different trajectory according to the International Monetary Fund, which predicts Qatar's economic growth rate at 4.9 percent – driven by a variety of fundamental factors, namely gas price increases and hosting of FIFA World Cup Qatar 2022.
In line with recent official statistics, the FIFA World Cup Qatar 2022 is expected to generate direct financial revenues of QR8bn ($2.2bn), and long-term economic revenues of QR9.9bn ($2.7bn) from 2022 to 2035. In addition to the expected boom in tourism revenue during the World Cup and beyond.
According to Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatari Businessmen Association, Qatar's government and private sector have been working hard to get infrastructure and other services completed since Qatar won hosting rights.
The World Cup is an ideal opportunity to accomplish the initiatives of Qatar National Vision 2030, since more than $200 billion has been spent on roads, bridges, ports, airports, metros, housing, tourism, and free zones, and these investments will yield returns after the tournament, he added.
The infrastructure built for the World Cup won't be limited to the tournament period but will extend beyond, especially with the launch of huge liquified gas projects that will provide financial resources for diversifying the state's economy.
Source: Qatar Living
