~ By Vibhat Chabra and Riju Tyagi
Without a doubt, Qatar's hosting of the 2022 World Cup will have a lasting impact on the small Middle Eastern country. Qatar had many logistical difficulties before hosting the famous international football tournament as the first Arab nation. However, the government took advantage of the chance to spend heavily on the infrastructure, tourism, and sports sectors, which will have a long-lasting effect on Qatar and the surrounding area. The substantial infrastructure improvement that Qatar underwent in advance of the tournament and in keeping with the 2030 national vision will be one of the World Cup's most lasting legacies.
Qatar Tourism before WC
In terms of overall visitors in 2020, Qatar received 582,000, placing it 121st in the world.
Qatar ranks 89th in the world with 0.22 tourists per citizen. Around 14.32 billion US dollars were produced by Qatar's tourism industry alone in 2020. Tourists who came to the country in 2020 spent, on average, $20,801 each. This amount is significantly higher than in past years. Therefore, the figure should be used with care.
Tourism generated 122 million USD in revenue in 1999 or roughly 0.98% of the GDP. At the time, this amounted to approximately 357,000 tourists or 342 USD per person. Sales were $15.65 billion in the year before the COVID-19 pandemic broke out or 8.9% of the GDP. As a result, each visitor to Qatar spent an average of $7,324 on their trip. Tourism revenue fell precipitously in 2020 as a result of the COVID-19 pandemic. Only $14.32 billion of the $15.65 billion was left. In Qatar, this represents a decline of 8%.
Developments in Qatar Tourism
The World Cup will be a powerful boost for Qatar's long-term tourism objectives. According to Qatar Tourism's Trenkel, "we have an ambitious ambition to increase the number of incoming tourists to Qatar to more than six million a year by 2030, making Qatar the fastest-growing destination in the Middle East."
The World Cup will help Qatar improve its underdeveloped and growing international tourism industry, raise much-needed foreign interest in the nation, and establish the state as a tourist attraction. The Hamad International Airport, the Qatar Rail Project, Msheireb Downtown Doha, and cultural sites like museums are all included in investments made in infrastructure that encourages tourism.
Qatar's National Tourism Sector Strategy 2030 was introduced in 2014. Officials in Qatar believed that the tourist sector would evolve into the nation's "main engine for development" to boost the number of small and medium-sized businesses, promote entrepreneurship, and fortify the private sector.
Qatar Tourism in 2023
Foreign visitors to Qatar, which recently finished hosting the FIFA World Cup, increased by 31% in Q1 2023 compared to Q1 2019, or several months before the COVID-19 pandemic started. Based on recent reservations, the US will have a 257% increase in inbound travel to Qatar, while the UK will experience a 29% increase.
In 2023, it is anticipated that the travel and tourism industry would generate US $1,129 million. An estimated market volume of US $1,722 million by 2027 is the result of revenue growing at a projected annual rate of 11.13% (CAGR 2023–2027). With a predicted market volume of US $512.10m in 2023, hotels will be the market's largest category. By 2027, 1.6 million people are projected to be using vacation rentals. In 2023, there will be 62.2% of users, and by 2027, there should be 76.1% of users. It is anticipated that the average revenue per user (ARPU) will be $ 599.80 USD. By 2027, internet sales will account for 85% of all revenue in the travel and tourism sector.
Economy post Fifa WC 22
Financial analysts predict that the World Cup will cause Qatar's GDP to increase by 4.1% by the end of this year, according to multiple publications. The region's GDP will also grow by 3.2% on average between 2022 and 2030. According to reports, the 2022 FIFA World Cup will boost Qatar's economy by more than $20 billion. In comparison to the previous World Cup, the region's football enthusiasts will spend more on socializing and going out, according to a press report by the news agency Zawya.
Bull Run for a while -
$4 billion worth of foreign investment has already entered the nation in the first ten months of the year. In reality, the Qatar Stock Exchange (QSE) has outperformed its competitors in the run-up to the major athletic event. And even a year after the competition, this is anticipated to persist.
Startup Growth -
The World Cup is also drawing a lot of interest from the local startups. Arvex, a software business with a Doha presence, provides virtual reality 360-degree tours of the Khalifa International Stadium. The region has invested heavily in the Qatari startup sKora in an effort to provide the most advanced technologies to the World Cup.
Conclusion
With more than 729,000 foreign tourists in the first half of 2022—a 19% rise over the whole year of 2021—Qatar's tourism industry is still seeing a robust comeback. And by 2030, they want tourism to account for 12% of the GDP.
Thus, after a period of hardship, hope has returned to the hotel industry. Growth is taking place. Businesses are bustling. Uncertainty in the global economy is still present, but this industry is robust and its workforce is dedicated to finding solutions with vigor, inventiveness, and ambition.
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