Photo for illustrative purposes only.
PHOTO BY ARCHIVE
The Qatar Fifa World Cup, expected to draw 1.2 million people, can significantly improve the economies of some GCC countries and the UAE.
Given Dubai’s reputation as the region’s central tourism hub, Qatar’s limited capacity to handle football fans suggests a significant increase in visitors to neighboring cities like Dubai. After the successful Expo 2022 event, the Emirate anticipates a similar surge of tourists in winter 2022.
The main business sectors that stand to benefit from this mega sporting event are food and beverage (F&B), real estate, tourism, and hospitality.
Dubai has already started shuttle flights from Dubai to Doha for tournament attendees between November 20 to December 18, 2022, which will increase traffic to the country.
The UAE also granted Hayya Card holders multi-entry tourist visas for the Fifa World Cup 2022.
Apart from real estate, Fifa World Cup 2022 is projected to draw investors and high net-worth people (HNWIs) to Dubai to experience its peak and take advantage of the UAE’s innovative business and residence policies.
The real estate market has witnessed record-breaking transactions this year.
In addition to the World Cup, the UAE will attract visitors during winter from October to March, with various events, such as the Dubai Shopping Festival, Expo City, Global Village, and so much more.
Despite the crashing global economy, businesses can take advantage of the booming market in the local economy. Entrepreneurs are expected to rush to start new companies in the UAE while favorable conditions remain. BKM/ Expat Media
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