Qatar Aims To Build $20 Billion Sports Sector Ahead Of World Cup

www.oann.com | 10/16/2018 | Staff
DOHA (Reuters) – Qatar wants to attract more sports companies to the Gulf state, aiming to develop a $20 billion sports sector ahead of the 2022 World Cup, a senior official said on Sunday.

Qatar Financial Center (QFC) – which licenses foreign companies, mostly in the finance sector, to exempt them from local ownership laws – aims to license about 150 sports companies by 2022, including around 25 this year, QFC’s CEO Yousuf Al-Jaida said at an event to announce the strategy. He did not give any names.

Drive - Multinationals - Commercialization - Services - State

The drive to attract sports-related multinationals and facilitate the commercialization of sports-related services in the state is part of plans to become a regional hub for sporting events in the run-up to Qatar’s hosting of the 2022 soccer World Cup, he said.

This month FIFA established a joint venture in Qatar to help run the tournament.

Lot - Value - Chain - Qatar - World

“A lot of the value chain is moving to Qatar as we speak for the World Cup 2022,” Jaida said.

Qatar will this year stage the World Championships in Athletics, a biennial even organized by the International Association of Athletics Federations.

Sports - Service - Companies - Companies - Education

“We’re looking at sports service companies, legal companies, education and training, sportswear and...
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