Qatar will spend $220 billion to host the 2022 world cup which is $208 billion higher than what was spent in 2018.
As the 2022 FIFA World Cup draws nearer, investigations have revealed that the host country, Qatar is expending a whopping sum of $220 billion to host the most watched sporting event in the world
Investors King understands that this was $208 billion higher than what was used to host the last edition of the FIFA World Cup in Russia.
It could be recalled that Russia spent $11.6 billion to host the 2018 FIFA World Cup.
The 2022 FIFA World Cup is scheduled to hold between the 20th of November and the 18th of December 2022. The opening ceremony will take place at the 60,000-capacity Al Bayt Stadium.
This is the first time that the FIFA World Cup is being held in the Middle East and the second time it will be hosted by an Asian Nation.
In preparation for the much-anticipated sporting event, the government of Qatar has built a new city ‘Lusail’ where the final will be conducted at the iconic Lusail Stadium.
It was reported that the oil-rich nation ‘Qatar’ is spending $500 million every week on construction, infrastructure, hospitals, hotels, airports, and several new stadiums.
About 1.5 million people are expected to arrive in Qatar for the FIFA World Cup. Out of the eight stadiums prepared for the world cup, seven of them are newly built with world-class facilities.
Financial Analysts have estimated that the world cup will create more than one million jobs for the country across key sectors like construction, real estate, hospitality and tourism.
Besides, analysts opined that activities surrounding 2022 world cup will increase Qatar’s Gross Domestic Product (GDP) by 4.1 percent while it will contribute about $20 billion to the economy in the near time.