Qatar to build $20 billion sports sector ahead of soccer World Cup 2022


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Qatar to build $20 billion sports sector ahead of soccer World Cup 2022

On Sunday, the 17th of February, a Senior Qatari official told that Qatar had been on the lookout for more sports companies in the Gulf nations to develop as little as a $20 billion sports sector ahead of World Cup, 2022, widely viewed as the greatest show on the earth.

The Chief Executive Officer of Qatar Financial Center (QFC), a governing body which licenses foreign companies in the nation’s financial sectors, Yousuf Al-Jaida announced at an event on Sunday (February 17th), the QFC had been looking forward to licensing about 150 gulf sports companies by 2022.

According to the CEO of QFC, the recently injected drive to boost up commercialization of the sports-related services and to attract sports-related multinational had been a part of a plan of Qatar government, to become a regional hub of sports events ahead of 2022 soccer World Cup.

Earlier this month, the FIFA had also announced a joint venture with Qatar to help boost the Qatari regional sports hub. In fact, Qatar would also host World Athletics Championship this year, a biannual event organized by the International Association of Athletic Federation.

Citing a basket of sports companies addressing soccer World Cup 2022, Jaida said, “A lot of the value chain is moving to Qatar as we speak for the World Cup 2022. We’re looking at sports service companies, legal companies, education and training, sportswear and equipment... it’s a detailed cluster of sports companies catering to 2022.