Denis Foynes – The soccer-world was shocked when Qatar beat out established soccer nations such as England and Spain, winning the right to host the 2022 World Cup.
Despite the controversy (i.e. allegations of bribery) surrounding the decision, it is not going to change, and this means there is an opportunity for current and potential expats in Qatar.
The 2022 World Cup is projected to create nearly one million new jobs in the country; driven mainly by the necessary increase in infrastructure-related spending.
Nine new stadiums and various transport services are set to be constructed. A recent report on the predicted impact of the world cup on the local economy states, “The large public sector infrastructure projects envisaged to the lead up to the 2022 World Cup will require a significant expansion in Qatar’s labor force. This is leading to a new population growth, which is expected to push the overall population to more than 2.2 million by 2014. This will produce higher economic growth, moderate inflation, and significantly higher traffic congestion in the years ahead.”
Additionally, there is the expected tourism boost. “The importance is to [Qatar’s] advertising, becoming a tourist destination. It’ll help the stature of the country and raise its profile,” Brahim Razgallah, chief economist for the MENA region at JP Morgan explained. “It could also have some impact on its attractiveness as a business hub in the region to compete with Bahrain and the UAE,” he claimed.