Qatar's $300 Billion Trophy
Bloomberg Businessweek US|November 21 - 28, 2022 (Double Issue)
It's not just the World Cup. Middle Eastern countries are spending heavily to snag F1 races and other marquee events By Simone Foxman, Ben Bartenstein and Janet Paskin
Qatar's $300 Billion Trophy

Qatar’s bid to host this year’s FIFA World Cup was controversial from the start. Beyond objections to the country’s history of human-rights abuses, there were also the searing temperatures and the sheer logistical challenges to consider: one outdated stadium, few hotels and zero experience with mass tourism.

Nothing, it turns out, that immense sums of money couldn’t address. Twelve years after winning the rights to host the tournament and $300 billion later, the tiny gas-rich nation is ready to host the best players in men’s soccer and about a million of their biggest fans. There are seven new stadiums, 20,000 new hotel rooms, a new metro and more than 1,100 miles of new roads, the culmination of a decade of nonstop construction and investment.

Qatar’s spending on sports isn’t confined to the World Cup. Since being awarded the event by FIFA, soccer’s international governing body, the country has been on a spree, buying a majority stake in Paris Saint-Germain—one of France’s top soccer clubs—and a 22% interest in Portuguese team SC Braga. It held a Formula One race in 2021, then secured a decade long hosting contract that starts next year.

The nation’s wealthiest neighbors have matched the spending on sports blow for blow. The region will host four F1 races in 2023, while Saudi Arabia and Abu Dhabi each own an English Premier League soccer team. There’s also LIV Golf, growing investments in e-sports and major boxing and mixed martial arts events. In October two teams from the National Basketball Association played a preseason game in the Middle East, a first for the US league.

هذه القصة مأخوذة من طبعة November 21 - 28, 2022 (Double Issue) من Bloomberg Businessweek US.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة November 21 - 28, 2022 (Double Issue) من Bloomberg Businessweek US.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BLOOMBERG BUSINESSWEEK US مشاهدة الكل
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023