Qatar's sports industry is poised for further growth and the FIFA World Cup is likely to add billions of dollars to the domestic economy, which has grown steadily over the years since it was awarded the right to host the World Cup, a research note from the Investment Promotion Agency Qatar (IPA Qatar) said.
Interest around development of sports in Qatar has soared globally in the run-up to FIFA World Cup, for which $6.5bn has been budgeted, it said, adding the sector has become the focus of international investors.
The Ministry of Commerce and Industry has identified 83 commercial and investment opportunities for the private sector until 2023, spanning event management and promotion, sport development, venue construction, sporting goods and equipment, sports commercialisation, sports tourism, and venue operations.
"With an average growth of 4.5% over 11 years, between 2010 to 2020, Qatar’s GDP or gross domestic product has grown steadily since it was awarded the right to host the World Cup in 2010," IPA Qatar said, quoting the International Monetary Fund.
Highlighting that the global Esports market is expected to grow with a compounded annual growth rate or CAGR (2019 to 2024) of 8.7% to $218.7bn in 2024; it said Qatar has a strong starting point with advanced ICT (information, communication and technology) and adaptability, ranked eighth in the Global Competitiveness Index’s “ICT Adoption” pillar.
With the world’s first commercially available 5G network and with 99% Internet penetration, the country continues to support investors to unfold opportunities through its licensing platforms such as Qatar Financial Centre and Qatar Sports Tech.
The global sports medicine and physiotherapy market was estimated at $8.2bn in 2020 and is projected to grow at a CAGR of 8.83% to $14.9bn by 2027.
Qatar has futuristic sports medicine facilities. It is home to Aspetar – Qatar Orthopaedic and Sports Medicine Hospital – the first such facility in the Middle East region and is accredited by FIFA as a sports medicine centre of excellence.
Hosting some of the world’s finest sports infrastructure, "Qatar has cemented its position as a global sports destination," it said.
Hosting the FIFA World Cup has helped Qatar draw investment. The country has introduced measures that will not only deliver an unparalleled World Cup experience but create opportunities.
The mega projects — from a railway and airport expansion to construction projects worth $200bn will boost business and draw investment in 2022 and beyond.
With over a million fans travelling to the country, tourism and hospitality will benefit immensely from preparation for sporting events.
Describing Qatar’s economy post-World Cup 2022, Nasser al-Khater, chief executive of FIFA World Cup Qatar 2022, said "the country’s focus will shift from infrastructure development to tourism and will likely go in the direction of Russia post-World Cup 2018”.
The tournament added $14bn to the Russian economy, and the benefits are still being felt.
Qatar is poised to spur development. The country’s vision and futuristic infrastructure have not only accelerated the development of sports industry, but also bolstered growth potential of different sectors, IPA Qatar said.
The Ministry of Commerce and Industry has identified 83 commercial and investment opportunities for the private sector until 2023, spanning event management and promotion, sport development, venue construction, sporting goods and equipment, sports commercialisation, sports tourism, and venue operations.
"With an average growth of 4.5% over 11 years, between 2010 to 2020, Qatar’s GDP or gross domestic product has grown steadily since it was awarded the right to host the World Cup in 2010," IPA Qatar said, quoting the International Monetary Fund.
Highlighting that the global Esports market is expected to grow with a compounded annual growth rate or CAGR (2019 to 2024) of 8.7% to $218.7bn in 2024; it said Qatar has a strong starting point with advanced ICT (information, communication and technology) and adaptability, ranked eighth in the Global Competitiveness Index’s “ICT Adoption” pillar.
With the world’s first commercially available 5G network and with 99% Internet penetration, the country continues to support investors to unfold opportunities through its licensing platforms such as Qatar Financial Centre and Qatar Sports Tech.
The global sports medicine and physiotherapy market was estimated at $8.2bn in 2020 and is projected to grow at a CAGR of 8.83% to $14.9bn by 2027.
Qatar has futuristic sports medicine facilities. It is home to Aspetar – Qatar Orthopaedic and Sports Medicine Hospital – the first such facility in the Middle East region and is accredited by FIFA as a sports medicine centre of excellence.
Hosting some of the world’s finest sports infrastructure, "Qatar has cemented its position as a global sports destination," it said.
Hosting the FIFA World Cup has helped Qatar draw investment. The country has introduced measures that will not only deliver an unparalleled World Cup experience but create opportunities.
The mega projects — from a railway and airport expansion to construction projects worth $200bn will boost business and draw investment in 2022 and beyond.
With over a million fans travelling to the country, tourism and hospitality will benefit immensely from preparation for sporting events.
Describing Qatar’s economy post-World Cup 2022, Nasser al-Khater, chief executive of FIFA World Cup Qatar 2022, said "the country’s focus will shift from infrastructure development to tourism and will likely go in the direction of Russia post-World Cup 2018”.
The tournament added $14bn to the Russian economy, and the benefits are still being felt.
Qatar is poised to spur development. The country’s vision and futuristic infrastructure have not only accelerated the development of sports industry, but also bolstered growth potential of different sectors, IPA Qatar said.