MICHAEL FISHER
SINCE QATAR won the bid in 2010 to host the FIFA 2022 World Cup, the country has been busy preparing for the prestigious event that kicked off on 20 November 2022. The World Cup, which will see 32 national teams compete (starting with a match between Qatar and Ecuador), will attract some 1.5 million visitors to the tiny desert country.
The tournament is expected to bring $4.5 billion in revenue (for FIFA)-which, however, is dwarfed by the estimated investment of $220 billion Qatar has had to make to prepare for the World Cup.
This mammoth amount includes the cost of constructing seven new stadiums and the renovation of another one, as well as the building of roads, hotels, a metro system, and other infrastructure necessary to accommodate such a huge number of visitors to a country which is practically a desert.
However, it is unclear how much Qatar itself will profit from hosting the event or indeed if it will make a profit at all.
World Cup 2022 economics: Who pays for what According to FIFA, the organisation will cover all operating costs associated with the hosting of the World Cup, including $440 million in prize money. This is an increase of $40 million on the previous tournament held in Russia in 2018, and up $82 million from the prize money that was allocated for the 2014 World Cup in Brazil.
World Cup 2022 economics: Who pays for what
According to FIFA, the organisation will cover all operating costs associated with the hosting of the World Cup, including $440 million in prize money. This is an increase of $40 million on the previous tournament held in Russia in 2018, and up $82 million from the prize money that was allocated for the 2014 World Cup in Brazil.
FIFA has also made payments of $1.5 million covering preparation costs, guaranteeing that every participating country will return home with at least $10.5 million.
Esta historia es de la edición December 2022 de Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 2022 de Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
'Hack' your money psychology
Spending too much money? Tempted by sales? These money psychology hacks’ can help
Accounting tips for small businesses
It's important to properly manage your business finances
KIDS AND MONEY: FIVE WAYS TO START THE CONVERSATION
WHEN IT comes to teaching young children about the world, parents may feel that some topics—like politics and religion—are too tough to broach.
REDUCE THE PAIN OF DOWNSCALING
Investing in a holiday home as a retiree
THE RISKS INVOLVED IN INVESTING
Finding the balance between eating well and sleeping well
TESLA: WHY IT MIGHT BE TIME FOR MUSK TO GO
What 2023 holds for the electric vehicle company
FINDING SOMEONE TO STEP INTO YOUR SHOES
The Eskom crisis demonstrates again the importance of proper succession planning—loDSA
BORROWING MONEY ISN' ALWAYS A BAD THING
On the contrary, debt can be a sensible way to build wealth
WILL SOLAR POWER INCREASE THE VALUE OF YOUR HOME?
The upfront investment is high, which you'll want to recover when you sell
WHERE NEXT FOR THE GLOBAL ECONOMY?
Why central banks face an epic battle against inflation in 2023