Qatar not expected to profit from World Cup 2022
According to Citibank’s chief economist for the Middle East, Qatar is unlikely to reap any economic benefit from hosting the 2022 World Cup. After beating out much larger countries like the US, South Korea, and Australia to win the games, Qatar will have to add an estimated 80,000 hotel rooms to meet demand in a country with the average occupancy hovering at 60%.
Airports, roads, and hotels will have to be shored up to meet the expectations of spectators and competitors, and Qatar has pledged $88 billion for the effort. They will have to build 9 new stadiums and refurbish 3. After the games, some of the unneeded stadiums will be sent to countries that could not otherwise afford them. Qatar will also attempt to offset the extreme (50 degrees Celsius) summer heat with artificially-cooled stadiums. Despite these imposing obstacles, Qatar is expected to post the world’s highest growing GDP this year, and seems to eagerly anticipate the challenge of hosting the World Cup 2022.
According to Citibank’s chief economist for the Middle East, Qatar is unlikely to reap any economic benefit from hosting the 2022 World Cup. After beating out much larger countries like the US, South Korea, and Australia to win the games, Qatar will have to add an estimated 80,000 hotel rooms to meet demand in a country with the average occupancy hovering at 60%. Airports, roads, and hotels will have to be shored up to meet the expectations of spectators and competitors, and Qatar has pledged $88 billion for the effort. They will have to build 9 new stadiums and refurbish...
According to Citibank’s chief economist for the Middle East, Qatar is unlikely to reap any economic benefit from hosting the 2022 World Cup. After beating out much larger countries like the US, South Korea, and Australia to win the games, Qatar will have to add an estimated 80,000 hotel rooms to meet demand in a country with the average occupancy hovering at 60%.
Airports, roads, and hotels will have to be shored up to meet the expectations of spectators and competitors, and Qatar has pledged $88 billion for the effort. They will have to build 9 new stadiums and refurbish 3. After the games, some of the unneeded stadiums will be sent to countries that could not otherwise afford them. Qatar will also attempt to offset the extreme (50 degrees Celsius) summer heat with artificially-cooled stadiums. Despite these imposing obstacles, Qatar is expected to post the world’s highest growing GDP this year, and seems to eagerly anticipate the challenge of hosting the World Cup 2022.
