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Rahul Preeth
Doha
Qatar wants to develop a $20 billion sports sector ahead of the 2022 FIFA World Cup, a senior official has said.
Yousuf Mohamed al Jaida, chief executive of Qatar Financial Centre (QFC), said on Sunday that around 25 foreign companies in the sports sector are expected to set up shop in Qatar this year through the Qatar Financial Centre (QFC) platform.
By 2022, the number will go up to 150, he said, which would account for “70 to 80 percent” of the investment volume in Qatar’s sports sector. The total investment in sports is expected to reach $20 billion (QR72 billion) after the FIFA World Cup.
Jaida said QFC was already in talks with a Chinese major called “Nanjing” that has experience in catering to Olympics.
“A lot of (sports) value chain is actually moving to Qatar for the World Cup,” he said on the sidelines of an event to launch QFC’s strategic vision for 2022.
QFC’s 2022 vision lays out a multi-pronged strategy to achieve its goal of having 1,000 firms in various sectors under its fold in four years. The sports sector is one of the potential growth areas for QFC, besides digital, media and financial services.
“From a QFC perspective, we believe the platform is well positioned to house most of the value chain that is going to cater to the World Cup,” Jaida said.
So, how does QFC keep the world interested in Qatar’s sports sector after the World Cup?
With a well-established world-class sports infrastructure, Qatar has a long history of successfully hosting international sporting tournaments such as the 2018 FIG Artistic Gymnastics World Championships, 2015 World Men’s Handball Championship, 2015 AIBA World Boxing Championships, as well as the 2006 Asian Games among many others.
“World Cup is the initial point of attraction. It is not the only point of attraction,” Jaida said, adding that once QFC makes its 2022 vision into reality, it would have an ecosystem that caters to not just one but multiple events.
To further develop the sports industry in Qatar, the QFC signed an MoU with Aspire Zone Foundation in 2018 to establish the Qatar Sports Business District.
The initiative is a first of its kind and aims to attract large sports-related multinationals.
Doha
Qatar wants to develop a $20 billion sports sector ahead of the 2022 FIFA World Cup, a senior official has said.
Yousuf Mohamed al Jaida, chief executive of Qatar Financial Centre (QFC), said on Sunday that around 25 foreign companies in the sports sector are expected to set up shop in Qatar this year through the Qatar Financial Centre (QFC) platform.
By 2022, the number will go up to 150, he said, which would account for “70 to 80 percent” of the investment volume in Qatar’s sports sector. The total investment in sports is expected to reach $20 billion (QR72 billion) after the FIFA World Cup.
Jaida said QFC was already in talks with a Chinese major called “Nanjing” that has experience in catering to Olympics.
“A lot of (sports) value chain is actually moving to Qatar for the World Cup,” he said on the sidelines of an event to launch QFC’s strategic vision for 2022.
QFC’s 2022 vision lays out a multi-pronged strategy to achieve its goal of having 1,000 firms in various sectors under its fold in four years. The sports sector is one of the potential growth areas for QFC, besides digital, media and financial services.
“From a QFC perspective, we believe the platform is well positioned to house most of the value chain that is going to cater to the World Cup,” Jaida said.
So, how does QFC keep the world interested in Qatar’s sports sector after the World Cup?
With a well-established world-class sports infrastructure, Qatar has a long history of successfully hosting international sporting tournaments such as the 2018 FIG Artistic Gymnastics World Championships, 2015 World Men’s Handball Championship, 2015 AIBA World Boxing Championships, as well as the 2006 Asian Games among many others.
“World Cup is the initial point of attraction. It is not the only point of attraction,” Jaida said, adding that once QFC makes its 2022 vision into reality, it would have an ecosystem that caters to not just one but multiple events.
To further develop the sports industry in Qatar, the QFC signed an MoU with Aspire Zone Foundation in 2018 to establish the Qatar Sports Business District.
The initiative is a first of its kind and aims to attract large sports-related multinationals.
