Mega events to stimulate GCC tourism

Tuesday, November 29, 2022

On global tourism map, Gulf Cooperation Council will come out even stronger after successful Expo 2020 Dubai and conclusion of the continuing FIFA World Cup in Qatar in December 2022, as per the analyst and expert prediction.

Recently, S&P Global Ratings said that GCC economies from this month’s Fifa 2022 World Cup, are all prepared to get an added boost up as over 1.2 million fans are hoped to take part in the mega event, increasing the population of Qatar by almost 1.5x.

As per the rating agency, this paves the way for Qatar to take pleasure in the possible near-term financial growth but also emphasizes the challenges related to logistics in terms of managing the event, which will ultimately show the way to positive overflow effects for the rest of the region.

The senior director at Doha-based Al Rayan Investment, Akber Khan, said that mega events like Fifa World Cup and Expo 2020 Dubai will help in the expansion of regional economies by encouraging tourism in GCC.

Economic experts explained that continuous mega international events along with important sporting events will not only encourage regional financial activities but also help the region to expand from oil-based income to tourism.

For hydrocarbon-rich Abu Dhabi, Saudi Arabia, and Qatar, organizing world cultural, sporting and entertainment events strengthen their non-oil economies.

The main target is to perk up the support of tourism and hospitality, travel and retail, Khan told Khaleej Times.

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