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Q2 net profit fell by 18% to $637 million.

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Qatar could make $20 billion from hosting soccer World Cup next year

By TRENDS Desk
June 19, 2021 1:26 pm

     

    • The figure of $20 billion represented 11 percent of the country’s gross domestic product in 2019

    • The construction and tourism industries are expected to benefit the most from the event

     

    Qatar hopes to gain $20 billion from hosting the World Cup in 2022. “We anticipate the contribution to the economy essentially would be around about $20 billion,” said Hassan Al-Thawadi, secretary-general of the committee for delivery and legacy, citing a “high-level study.”

    That represents 11 percent of the country’s gross domestic product in 2019. But a more detailed projection is yet to be declared, he added, as the event will take place in November and December next year. Al-Thawadi said the construction and tourism industries are expected to benefit the most from the event.

    Qatar has developed massive infrastructure ahead of the cup, which could be the first widely attended sporting event since the outbreak of the COVID-19 pandemic. It is building a new metro system, an airport expansion and an entirely new city, which Bloomberg estimates to be worth $300 billion.

     

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