2022 will be FIFA’s 22nd running of the World Cup competition to be taken place from November 20 to December 18 in Qatar. FIFA is a well-known name around the world even among people who do not follow football. This is the most prestigious football tournament in the world which takes place in a quadrennial period where 32 nations compete. It hosted its flag in 1930 with a total of 21 till 2018. On Thursday, 11 August 2022, FIFA 2022 was officially confirmed by its global governing body also called the FIFA Council Bureau. After the massive strike of COVID-19 around the world, the council outlines player well-being and health strategy at the World Cup (Borga, 2020). The pandemic has affected the professions and lives of every individual and thus, sanctioned a new norm to be fostered in Qatar. The federation has approved the bigger 26-man squads. The selection of a host is followed by an extensive process considering variegated conditions. The selection of the host is done through a vote where no illegal terms are considered. Qatar was chosen among Australia, South Korea, Japan, and the United States although graded as a high operational risk by the media.
The foremost arena of concentration when it comes to benefits from the hosting of the FIFA World Cup is Tourism. This condition enhances due to a flock of people traveling to the host country boosting the economic condition of the place (Rookwood, 2019). Previous hosts showed to have flourished in a massive condition in their capital performance and profile (Burch, 2020). Indeed, Germany have had experienced a constant increase in the GDP from $590 million to $800 million from 2003 to 2006 thanks to the hosting of the FIFA World Cup among all other factors involved. That is why in 2003, the GDP was negative and in 2006 it ranged from 2.6% to 5% and prove to have the greatest growth by hosting the event. But this condition is not always positive for all countries, a big example is Brazil which witnessed a decline in the Gross Domestic Product standing from $2 trillion in the year 2011 to the finishing of 2016 with only $1 approximately. It was indeed negatively impacted for the post world cup event as many projects remained unfinished (Rookwood, 2019). This is just due to the expenses which were countless and the misallocation of capital.
Therefore, the sectors where there are plenty of pros in hosting the international event lie in the improvement in the infrastructure, enhancement in the revenue through the selling of tickets, TV ads, merchandise, etc. along with tourism. In fact, the ticket price can range from 100 US dollars to 1,000 for the final matches (Borga, 2020). This will just not contribute in the flourishment of the country’s reserve but also in the showcase of the host all over the world and trigger outside investor in the buying stock for other sectors. However, there have been controversies on the hosting of the World Cup by an Islamic country as the LGBTQ+ are in denial although the country allowed the consumption and distribution of alcohol in private centers.
When it comes to commenting on the host for the 2022 FIFA World Cup, it can be said that Qatar has a very competitive and stable economy that is growing at a fast rate compared with the peer countries’ economies (Abdallah, 2019). Its profile with strong credit is sustained by the high per capita income, strong economic fundamentals, and vast hydrocarbon reserves. In fact, the country has a reliance on natural gas and oil reserving more than 27 trillion cubic meters which are 14% of the world’s total making it 3rd in position. There is no percentage of the population that is under the poverty line. The country has shown to be in really good condition although surrounded by powerful rich states like the United Arab Emirates and Saudi Arabia.
Reference
Abdallah, A., & Al-Bakry, R. (2019). ADVANCING TOWARDS SUSTAINABLE ECONOMIES: EXAMINING RESIDENT ATTITUDES & PERCEPTIONS TOWARDS SUSTAINABLE TOURISM DEVELOPMENT IN QATAR. Economic and Social Development: Book of Proceedings, 602-611.
Borga, J. (2020). Hosting the FIFA World Cup: An Economic Analysis of how the World Cup has Impacted the Economy of a Developed and a Developing Nation.
Rookwood, J. (2019). Access, security and diplomacy: Perceptions of soft power, nation branding and the organisational challenges facing Qatar’s 2022 FIFA World Cup. Sport, Business and Management: An International Journal.
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