Effect of the FIFA world cup on Qatar's economy

Iroh

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Quote from: inthelongrun on January 08, 2023, 12:43:13 PM

I would not call Qatar's ambitious hosting of the World Cup a losing one. The moment they bid and commit to spending hundreds of billions of dollars means they do not care about financial profit in the specific event. Qatar has the vision to modernize and tries to balance its economy from oil and gas dependence. It wanted to become a tourist attraction like Dubai and a financial hub like Singapore. Tiny Qatar also wanted to play a role in the world, be it in politics, sports, or anything under the sun. Government-owned Qatar Airways is always at the top as the best airline in the world. The new Qatar railway is also one of the best in the world. Al Jazeera is becoming a mainstream channel in many parts of the world.

Qatar has gotten what they had wanted from hosting the World Cup. And in my opinion, that’s the limelight hosting the world cup brings. After now, Qatar, already a tech and business hub, would greatly see an increase in new businesses and investment from foreign entities.
Qatar is already a super rich country, with a good economy. Now that they’re in the limelight, they’ve now gotten some added influence in the world stage as well.
Qatar has great plans and they’re well on their way towards achieving it.

Theones

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Quote from: Anonylz on December 30, 2022, 04:27:59 PM

Quote from: adaseb on December 30, 2022, 12:08:46 AM

Most countries that host these events know they are doing it for a huge loss. The country doesn’t really depend on any revenue generated from this. It’s already fairly well off.

This was pretty much discussed a month ago. And most people were surprised by it. However that is just the way these events are done. They are done at a loss.

Qatar is a rich country, I doubt they are waiting on any ROI from the world cup to finance their economy or boost infrastructure, neither were they hoping to win the cup because they as a country are already very aware of the capacity of their players and the position they hold by world ranking.
They wanted to host the world cup to showcase Qatar to the world differently from the media, and I believe that is their greatest achievement. Not everything is all about money.

correct they are rich people and they have been on giving end all the time. I have seen kids standing at the road side and giving local food to the guests.
the buses are going to Somalia and the stadium are also going to the other underdeveloped countries

n0ne

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Quote from: bitgov on January 08, 2023, 06:40:16 PM

Quote from: AmoreJaz on January 08, 2023, 12:46:38 PM

Quote from: Frankolala on January 08, 2023, 08:36:36 AM

Qatar has achieved something great by hosting the world cup and this has brought firm and good relationship with other countries because it will bring private investors to Qatar in the nearest future and this will boost their economy.

I don't think they are bothered about the funds they used to make Qatar meet to the demand of FIFA for them to host the world cup,the country is an oil rich country with small population and the world cup has brought great development to their country in terms of infrastructures and good roads

they can recover those billions of dollars spent in some other ways. now, that they got the attention of the world, that's already their reward from this extravagant event. they will attract more investors and maybe even boost their tourism after this big event. many people are still hesitant going to the arab world because of some horror stories, i guess, in some way, some people will change how they perceive an arabic country like qatar.

The good thing Qatari government did - is taking care of their society and not compromising on those rules.
They have planned to send the stadiums to the underdeveloped countries and buses too.

Qatar being oil rich and had good revenue out of the oil industry doesn't want things to be connected with the FIFA football event. Doing the service to the countries in need is really appreciable. By the time Qatar should also consider about helping the families who lost their beloved ones during the construction of the stadiums.

bitgov

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Quote from: AmoreJaz on January 08, 2023, 12:46:38 PM

Quote from: Frankolala on January 08, 2023, 08:36:36 AM

Qatar has achieved something great by hosting the world cup and this has brought firm and good relationship with other countries because it will bring private investors to Qatar in the nearest future and this will boost their economy.

I don't think they are bothered about the funds they used to make Qatar meet to the demand of FIFA for them to host the world cup,the country is an oil rich country with small population and the world cup has brought great development to their country in terms of infrastructures and good roads

they can recover those billions of dollars spent in some other ways. now, that they got the attention of the world, that's already their reward from this extravagant event. they will attract more investors and maybe even boost their tourism after this big event. many people are still hesitant going to the arab world because of some horror stories, i guess, in some way, some people will change how they perceive an arabic country like qatar.

The good thing Qatari government did - is taking care of their society and not compromising on those rules.
They have planned to send the stadiums to the underdeveloped countries and buses too.

teosanru

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A really excellent post showing implications of such highly spent events on a country's economy. Obviously we all know how much has Qatar spent on the world cup how insanely this amount exceeds the amount spend in the previous cups which is absurd. But I think Fifa world cup is still an event which garners a lot of viewership both in stadiums and on Television. Events like Olympics which garner really less viewership when compared to Fifa are an even bigger threat to economies. Especially the fact that stadiums are made for so many sports which are never held again in that very country. Football stadiums can still easily be reused for further tournaments considering it's popularity. I think atleast these events should be hosted at a single place every time by creating an Olympic Village in one country it would save tons of wasteful expenditure.

STT

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Direct benefits are hard to justify the cost but to change the context and how people view Qatar could be something that pays dividends for twenty or more years afterwards. The tourism trade changing would be the most obvious 'echo' to the influx of people this year and I think its easily arguable that tourism figures rise far more then they would have done without all the publicity. Qatar arguing their right to maintain their own laws and religion within their country is quite different to western countries, thats a conversation worth having and tries to raise common ground despite fairly large differences in culture.
Ultimately I consider these large events, Olympics also as a kind of QE program for a country to spend money on infrastructure and probably superior to QE as it at least gives usable assets afterwards where as QE is just a subsidy to finance sectors really.

AmoreJaz

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Quote from: Frankolala on January 08, 2023, 08:36:36 AM

Qatar has achieved something great by hosting the world cup and this has brought firm and good relationship with other countries because it will bring private investors to Qatar in the nearest future and this will boost their economy.

I don't think they are bothered about the funds they used to make Qatar meet to the demand of FIFA for them to host the world cup,the country is an oil rich country with small population and the world cup has brought great development to their country in terms of infrastructures and good roads

they can recover those billions of dollars spent in some other ways. now, that they got the attention of the world, that's already their reward from this extravagant event. they will attract more investors and maybe even boost their tourism after this big event. many people are still hesitant going to the arab world because of some horror stories, i guess, in some way, some people will change how they perceive an arabic country like qatar.

inthelongrun

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I would not call Qatar's ambitious hosting of the World Cup a losing one. The moment they bid and commit to spending hundreds of billions of dollars means they do not care about financial profit in the specific event. Qatar has the vision to modernize and tries to balance its economy from oil and gas dependence. It wanted to become a tourist attraction like Dubai and a financial hub like Singapore. Tiny Qatar also wanted to play a role in the world, be it in politics, sports, or anything under the sun. Government-owned Qatar Airways is always at the top as the best airline in the world. The new Qatar railway is also one of the best in the world. Al Jazeera is becoming a mainstream channel in many parts of the world.

mvdheuvel1983

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Qatar hosted the world cup for more than just their economy because they are a very rich nation.
They did it for their image, national pride and pride of the Arab world.
I would like to think that they were like what other nations can do we can do it better. And they sure did.
Granted hosting the world cup may have positively reflected on their economy, but we can agree that they did it to make a statement and write their names in history books. This was the best world ever.

zaki12

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Quote from: ringgo96 on January 01, 2023, 10:35:30 AM

Qatar's economic influence during the world cup was very large, especially in the infrastructure sector, even though the funds spent were so large, the benefits they got were very large and most importantly they were able to finish well, and they could also promote interfaith harmony which was previously widely thought negative towards Islam but when tourism attacks the country all the notions of terrorism are not what they think.

As an Asian, I must be proud of Qatar, which has successfully held WC 2022, which other countries must follow as an example, be consistent in applying rules to local wisdom. lots of positive sides.

behind the controversy (Alcohol Prohibition and LGBT Prohibition) which is so emotionally draining, apart from that this year's Qatar world cup is the grandest and most expensive world cup in history.

Qatar is not just after profit. they are already rich, their people are prosperous, the government pays close attention to them, what Qatar wants is a positive view of Islam from people in various parts of the world, this proves that not all Islamic countries have a negative image as often reported in the western media.

Frankolala

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Qatar has achieved something great by hosting the world cup and this has brought firm and good relationship with other countries because it will bring private investors to Qatar in the nearest future and this will boost their economy.

I don't think they are bothered about the funds they used to make Qatar meet to the demand of FIFA for them to host the world cup,the country is an oil rich country with small population and the world cup has brought great development to their country in terms of infrastructures and good roads

BigBos

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I think they do this not only about tourism, but more precisely they show the peace of their religion, we know that the religion of Islam has always been world propaganda so that some western countries have a negative view of Islam. We know that the opening ceremony there was carried out dialogue by Ghonim Al-Muftah and Morgan Freeman which shows the values of peace.
As well as prohibitions made by FIFA regulations such as the prohibition of sex outside of marriage, drinking alcohol, homosexuality and others which are prohibited in Islam. And we can see that it runs smoothly even though there are some frictions.
I think Qatar prioritized religious values in yesterday's world cup without any profit orientation in terms of material-based business or financial progress.

albon

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Qatar is one of the largest oil exporting countries and has the third largest natural gas reserves in the world, so it is a country rich in natural resources and non-renewable energy it is a small Arab country, and it is certain that Qatar benefited economically from the FIFA world cup, as the financial revenues were huge and will continue in the long term And tourism received a strong boost in transportation and facilities at the start of the FIFA world cup and after the tournament, which increased the potential gains from behind the World Cup, as this global event added billions of dollars to its economy, in addition to the fact that this event is a good way to display its culture on a global scale.

tabas

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It's not about the quick return or ROI for Qatar but it's about attracting more people into them that have seen the beauty of Qatar. It'll be a long term effect on them and at the same time, the historical value of hosting FIFA is already an achievement. A lot of countries are bidding for it to host the competition and yet, there has to be standards that they're factoring for the organization to approve a country to host it.
It's more than that and Qatar did just the right thing of hosting an event that will be forever part and pride of their country and people.

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Quote from: mindrust on December 29, 2022, 11:55:50 PM

Qatar is already a very rich country. They didn't host WC to make more money because they don't need money. Actually they lost money because of this event. If I remember right this was the most expensive world cup ever hosted. ($200 billion) There is no way Qatar can generate more than $200 billion to make up for the losses.

They might have lost money but they gained something else, they become more visible in the world. Now more people know about this small rich country. That was the biggest reason why they spent so much money on an organisation which they don't even like.

Just like what he said, Qatar didn't expect to make profit from this. Qatar is one of the richest country in the world so I don't think what they spent may have a negative effect on their economy.

Ndabagi01

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Qatar had truly astounded the world with the spectacular grand stadiums built to host World Cup matches. They really spent a lot of money to make it look so large and welcoming to all visitors. Even though they may have done so for other reasons, which are arguably the primary goal of hosting the World Cup, it has also aided the country's economic growth in some ways. It was fantastic and a boon for the country after hosting the World Cup in 2022.

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Quote from: bitgov on January 01, 2023, 04:24:54 PM

Quote from: Leviathan.007 on January 01, 2023, 02:17:01 PM

I'm not sure about according to what we can see there are many people who go to Qatar to watch the games and during this time they surely bought some food and other stuff like that which can bring more demand to the Qatar markets also they used many services like hotels and restaurants and some of these services are provided by the government the profits will go directly into the pocket of their government, so I'm sure if Qatar investing money to build stadiums they also got good profits from the world cup.

I dont think profit was one of the main aims of Qatar ... They are now going to dismantle the stadiums and will dispatch it to the underdeveloped countries. They are donating buses to the poor countries and so on an so forth. They are rich people and they don't care for the profits. Have they had cared for the profit they would not have banned alcohol and would have earned so much money form the alcohol manufacturers

I am having the feeling that Qatar spent much more than what they gained during the World Cup. As you said their target wasn't for profit making but for name making and other entitlements.
Even the alleged money that was paid to fifa president to enable them host the world cup and many more expenses as fixing ACs inside stadium.
They spent over $200b to host the world cup which is very high amount that cannot be easily recovered.

dothebeats

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Overall that's an L for Qatar short-term, but given that they have already created a lot of infrastructures in order to facilitate the World Cup, they can now use these amenities as a leverage for future events for them to host it and take some profit off of it. That $200 B may be too much of an investment for a one-time event that is not really profitable, but in the long run they can easily use what they built for tourism and a lot of other things. Plus, it puts them in the map for millions of people around the world. That alone is, IMO, worth the money they have invested in the said event.

Quote from: pooya87 on January 04, 2023, 06:58:55 AM

So they need things like FIFA world cup or selling LNG to Europe so that they can ensure their long term survival by increasing their relations with the outside world in a place where they are still surrounded like before.
Even if the FIFA thing weren't profitable for them on paper, it had tremendous amount of benefits for Qatar for sure.

Qatar has played its cards well by hosting FIFA, and it might just as well opened a lot of curious minds about the country. They used FIFA as a leverage for their long-term plans, and that is what's matters for that tiny country that has been receiving a lot of negativities in the past decade due to their alleged involvement with terrorist groups.

barbara44

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I think it is not the economy but more like how it impacted the outlook of the world towards Qatar and I think it's not that much worse, but not that much great neither. Some people liked it, and saw it for the first time and enjoyed it, some people know thousands died during building stage of this world cup, and basically it is a break even thing.

Maybe it will help them a bit, after all they didn't just built stadiums, the whole 200+ billion thing was for everything else, from hotels to hospitals to roads to even schools, just to look prettier and that does help a ton, stadiums were like a few billion only, all the other parts for longer term things.

These days, sport events are being used as marketing tool for tourism and tourism is capable of recursively supporting economy. Simply, if Qatar keep caring on developing their tourism, it will boost their economy significantly.

pooya87

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When we talk about Qatar we should not forget that it is a tiny country that is surrounded on all sides (ie ground access) by Arab nations that have bad relationship with Qatar and it was not so long ago that they basically sanctioned Qatar and this country was seeing its end and would not have existed if it weren't for the only non-Arab country in their vicinity north of Persian Gulf called Iran.
So they need things like FIFA world cup or selling LNG to Europe so that they can ensure their long term survival by increasing their relations with the outside world in a place where they are still surrounded like before.
Even if the FIFA thing weren't profitable for them on paper, it had tremendous amount of benefits for Qatar for sure.

Topic: Effect of the FIFA world cup on Qatar's economy (Read 755 times)