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Fifa World Cup brings tourism, economic boost for Dubai
Qatar's limited capacity to accommodate football fans implies a massive surge in visitors to neighbouring cities such as Dubai, given its status as the leading regional tourism hub
The main business sectors that stand to benefit from this mega sporting event are food and beverage (F&B), real estate, tourism and hospitality.
As the Qatar Fifa World Cup kicks off, expecting approximately 1.2 million visitors from all over the world, some GCC countries and the UAE can expect to experience a boost to their economies.
Qatar's limited capacity to accommodate football fans implies a massive surge in visitors to neighbouring cities such as Dubai, given its status as the leading regional tourism hub, which offers easy access for tourists to Qatar. After the Expo 2020 event, the Emirate can foresee a similar boom in the tourists visiting the country in the winter of 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 introduced shuttle flights from Dubai to Doha for passengers flying to attend the tournament between November 20 to December 18, 2022, which will indeed drive traffic to the country.
The UAE government also announced its decision to issue multi-entry tourist visa to Hayya Card holders to travel conveniently to attend the Fifa World Cup 2022 mega event.
Apart from real estate, Fifa World Cup 2022 is expected to attract investors and high net-worth individuals (HNWIs) to experience Dubai at its height and take advantage of the progressive change in the UAE laws about business and residency.
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.
Businesses can take advantage of the booming market in the local economy despite the otherwise gloomy global economy. Entrepreneurs will leap to invest in new ventures and establish businesses in the UAE while the conditions are still conducive to growth and prosperity.
Ravi Krishnan is general manager at business consultancy Ascent Partners. Views expressed are his own and do not reflect the newspaper's policy.
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