Qatar is one of the most active business hubs in the Middle East.
Not only that, it is one of the richest countries in the world as well. Now, very interestingly Qatar has become the first country in the Middle East to hold a football World Cup too. This most prestigious FIFA event will be held for almost a month (From 20 Nov 2022 to 18 December 2022). Undoubtedly, this will affect a lot of things that are directly or indirectly associated with this country.
To continue, there is no doubt that the country’s economy will boost immensely due to this FIFA event. This will also make FIFA World Cup betting sites like 10CRIC more active than ever. Lacs of people will bet on their favorite teams and players through these websites. Moreover, a lot of other businesses will do well too. Let us discuss more on how businesses will do during this popular event.
How does the Qatar World Cup 2022 will affect the business?
1. Online betting will increase
As mentioned earlier, FIFA World Cup would be more active while this event continues. People will try to make more money as they bet on wins or defeats of football teams, max goals scored by a player, penalty misses, and so on.
2. Boost travel businesses
Football is one of the most loved sporting events. Fans around the world will visit this place to support their favorite teams and players. This will increase the airline’s business. Besides, there will be an increase in demand for cabs and other internal transport systems for traveling through the cities and sightseeing. Needless to say, there is a hundred percent possibility that Qatar will experience a boom in the travel and tourism sector.
3. Growth in hotel businesses
Now, with the increasing number of tourists, the hotel business will also see a hike during FIFA World Cup as the tourists would be looking for accommodations, food, and drinks. Fans can also be seen celebrating their country’s wins in local restaurants and pubs. The profits made here will impact the overall economy of Qatar.
4. Benefits the street food vendors
When there will be gatherings based on such a great event, it is obvious that the street food vendors will be benefited as well. Fans and other tourists will heavily depend on street food vendors to fill their tummies. This will also perk up the overall revenue of the country.
5. Increase in online food delivery business
Even local people will be ordering food and beverages online while they enjoy football matches from the comfort of their homes. This will increase the business of local food vendors as well as food delivery franchises.
6. Increased Shopping
Naturally, the local shops and malls will have record-breaking buyers. People will be shopping, either out of their needs or to make the trip a memorable one. This will surely add to the country’s business and economy.
7. Boom in the advertising industry
Hundreds of companies will promote their services and businesses through this mega event. This will impact the advertising sector also. Qatar can enjoy an increased GDF through social media businesses, tax from bill-board advertising, and businesses generated via other major media platforms like televisions and OTT.
8. Construction of sports villages
Legal authorities and private construction agencies will build sports villages near the venues. Tourists and fans can stay there in temporary accommodations and enjoy the food hubs and other paid facilities during the World Cup. These will also help the Govt. in generating revenues.
9. Increase in sales of football accessories
No one can deny the fact that kids and even adults can be found buying World Cup-special footballs, national flags, and team jerseys. Several local sports gear manufacturers and sellers will remain active in making and selling such products during the FIFA event. This will do well for the country’s GDP.
There is no doubt that businesses can build up in any area where a major event takes place. Similarly, FIFA World Cup 2022 will surely affect the overall business of Qatar.
Culled from europeanbusinessreview.com