Analysis of the anticipated and potential economic impacts of mega sporting events on developing countries: a case of FIFA 2020 World Cup in Qatar
DOI:
https://doi.org/10.25255/2306.8043.2020.8.3.156.176Keywords:
Economic Impacts, FIFA World Cup, Keynesian Economic Theory, Descriptive Research, Operating Costs, Businesses, Infrastructure, Developing CountriesAbstract
Mega sporting events have been hailed for resulting in economic growth, evident in high investments, growth of businesses, and development of infrastructure because of the increased number of investors, tourists, and fans visiting host countries during such events. Even though host countries may experience non-economic benefits, such as a good legacy from the mega sporting events, there are also significant economic benefits realised by host countries. The study intended to assess the anticipated economic impacts of the 2022 FIFA World Cup in Qatar as a developing country. The study engaged in descriptive research design. Primary data was collected from research participants comprising Hotel Managers, Sports managers, Economic consultants, Project managers in the construction industry, and bank managers. Further, the study selected a sample of 50 respondents in data analysis. The researcher adopted inferential statistics to analyse data from the respondents, who were all from Qatar. The results of the study indicated that 2022 FIFA World Cup is likely to raise the employment level, especially for construction workers involved in the construction of stadia, growth of income level expansion of business, especially in hospitality industries are likely to attract many foreign visitors. Also, findings suggest that Qatar will experience an increase in the price of commodities and development of infrastructure. The findings depicted that the 2022 FIFA World Cup in Qatar will result in increased operating costs in the short-term and the long-term. Besides, the study found out that the event will lead to a high level of capital cost and a state of resource deficiency. The study concluded that the 2022 FIFA World Cup in Qatar as a developing country would have significant economic effects on the country. The researcher recommended that Qatar should focus on investing in projects that will help boost income levels for employees, boost business growth, attract more foreigners as tourist and fans, reduce the prices of goods and services as well as accommodation and activities that will reduce the long-term.
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