World Cup set to boost Qatar’s economy significantly

Published on July 27, 2011 by David Turner · No Comments

The World Cup is set to give Qatar a real shot in the arm

A successful bid to host the 2022 World Cup looks set to give Qatar’s economy an unprecedented boost in the years ahead, according to a senior technical recruitment agency.

Steve Tallant, Regional Manager for CBSbutler, carried out some projections on the Nation’s immediate future and came up with some very interesting conclusions.

“Over the next ten years you’re looking at over $100 billion worth of projects, mainly in construction and infrastructure. That’s $10-$15 billion a year, and that’s the reason we (CBSbutler) have put ourselves here,” enthused Tallant.

Gas and oil remain the country’s biggest recruitment sector and the main driving force behind the economy, however analysts believe the World Cup will change this.

Tallant also alludes to “the infrastructure that needs to be built to support” the responsibility of hosting the World Cup.

It is a global event which will attract visitors from every corner of the planet to the Middle East.

The size of the event means that the building project will create countless jobs, and when the tournament is under way the economy will receive a further boost from the amount of football fans that will descend upon Qatar.

Brazil is experiencing a similar boost to their economy as a result of hosting the 2014 World Cup.

Qatar are only at the beginning of their journey but if the early intentions of firms such as CBSbutler are anything to go by, the nation can expect interest from several other major global companies in the near future.

Transferring money to Qatar

Are you looking to invest in Qatar? If you are, it is advisable to think carefully about how you will be transferring money to Qatar. Foreign currency exchange rates quoted by banks are usually worse than the exchange rates available through specialist currency dealers.

So, if you are sending money to Qatar – which you will inevitably have to do if you are looking to make a property investment – be sure to compare the market before you buy your overseas currency.