The State of Qatar was named host of the 2022 FIFA World Cup, beating out a number of other contestants including the United States. This is the first time a major international athletic competition of this magnitude will be held in the Middle East. How will business be affected by this decision?
The World Cup by itself is only a one-month affair. However, the event can be seen as a public relations boon to Qatar and more broadly the Persian Gulf region and the Middle East, and it will put this region even more on the map. Construction in the Gulf has booming in the past decade and this event will only help it continue. Further, the ability to host such an event will only help boost investors’ confidence in the Middle East, be they local or foreign. All in all, while the World Cup is not a long-lasting event, it will have a huge impact on the region in the years preceding it and the decades following it. Expect the region to receive more attention from around the world as a business destination.