The decision of the Fédération Internationale de Football Association (FIFA) to choose the State of Qatar to host the 2022 World Cup finals is not only a historic precedent for the organization to choose an Arab country for the first time for one of the largest competitions and sports events in the world, but also carries with it enormous economic aspects.
While Qatar's economy recorded a growth rate of 16% during the current year, and is expected to grow 19% next year, it seems that Qatar's stock market will be the big winner.
Ahead of the decision, the Qatar stock exchange's primary index stood at about 8500 points. Nuqudy.com experts expect a positive effect of the decision on the market, estimating that a year from now it will reach 11,000 points, based on increased investor confidence and higher liquidity. There is no doubt that this market provides investors with promising opportunities to achieve significant gains, putting the Doha Stock Exchange at the forefront of the global financial markets during the coming years.
FIFA's decision will be clearly displayed on the local stock market. Record breaking highs supported by liquidity running wild doubling foreign investors, reflecting positively on the levels of trading and prices.
Qatar's winning bid for the 2022 World Cup did not come from a vacuum. The state has pledged to push huge investments worth 75 billion dollars into infrastructure, public facilities, sports facilities, tourism, communications, and transportation to cope with the importance of this massive global sporting event.
There is no doubt that the above resolution will enhance investor confidence in the economy of the State of Qatar, one of the largest exporters of liquid natural gas in the world. It is worth mentioning that there is a belief among the international community from almost two years ago, that Qatar, with the highest rate of per capita income, has become more attractive for business and foreign investment than even Dubai.
The economic benefits arising from Qatar hosting the World Cup are not confined to construction companies, but extend to public relations firms, where Qatar has announced recently that it would invest large sums of money to promote the country as a premier tourist location in the eyes of the world, positively reflecting on service companies, tourism, and related industries.
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