Growth of the sports industry in Qatar and the GCC to be faster than elsewhere

21/02/21

It is expected that the sports industry in Qatar and the GCC will grow faster than elsewhere. A recent survey conducted by PwC painted a picture of the industry in Qatar, United Arab Emirates, Saudi Arabia and Bahrain.

The sports industry in the Middle East is expected to grow by 8.7% over the next three to five years while the global sports industry is expected to grow by 3% in the same time. The growth is related to the strong support by the governments in the region in a bid to diversify economies and can be attributed to the maturity of the countries.

The sports industry in the Middle East is expected to fully recover from the impact of the pandemic by 2022 with Qatar alone due to host 63 international sporting events in 2021.

There are many world-class events in the region including the 2022 FIFA World Cup and the 2030 Asian Games in Qatar. Bahrain and Abu Dhabi are the hosts of annual Formula One Grand Prix while Saudi Arabia has hosted high profile events including heavyweight boxing and professional golf more recently.

The very popular e-sports industry is a natural fit for the Middle East with a young, internet confident population. It complements or supplements the more traditional sports. The climate in the summer is too hot for (outdoor) sports while e-sports are video games played competitively.

The popularity of e-sports has significantly increased in the pandemic, where most people had to spend extended periods of time indoors, and the industry has capitalised on this interest of the mainstream.

The lockdowns have required the sports industry to find other revenue streams as income from ticket sales declined. It has motivated organizations, institutions and entities to prioritise innovation and a digital agenda to attract more diversified audiences and to apply new methods of participation.

Please click on the link and reach out to learn more about opportunities and possibilities in the sports and e-sports industries in the State of Qatar as well as Business Start Up Qatar.

Other News

BSUQ News 54 - Thumb

Qatar welcomes over 2 million visitors in first quarter 2024

Qatars Ministry of Tourism announced the State attracted over 2 million tourists in the first four months of 2024 during the recent Qatar Economic Forum.

The impressive figures were revealed during...

Read more
BSUQ News 53 - Thumb

Qatar continues to focus on economic diversification

Qatar is successfully progressing with its economic diversification plans by targetting four key sectors, namely logistics, Information and Communications Technology (ICT), manufacturing and tourism.

The...

Read more
BSUQ News 52 - Thumb

Qatar's New Real Estate Law Boosts Investment Climate

Qatar's real estate sector is undergoing a transformative phase with the recent issuance of Law No. 5 of 2024 related to real estate registration.

This landmark legislation aims to regulate the sector...

Read more
BSUQ News 51 - Thumb

Qatar Foundation funds over 4,800 projects since 2007

Qatar Foundation (QF) has been leading Qatar’s efforts to diversify the economy and transform the nation into a knowledge based society.

Across the fields of IT, energy, environment and healthcare,...

Read more
BSUQ News 50 - Thumb

Qatar focused on developing the healthcare sector

Qatar`s healthcare sector is expected to increase at a compound annual growth rate (CAGR) of 5.2 percent by 2028 according to data by Fitch Solutions.

Analysts predict such figures based on recently...

Read more
BSUQ News 49 - Thumb

Qatar's gateway for global talent: The Mustaqel Visa

Qatar is set to revolutionise its labour market with the launch of the Mustaqel Visa, a groundbreaking five-year renewable residency permit designed for international entrepreneurs, exceptional talents...

Read more
BSUQ News 48 - Thumb

Qatars 'Young Entrepreneurs Initiative’ empowers students

Qatars ‘Young Entrepreneurs Initiative’ aims to educate its students about leadership skills with the goal of chanelling energies and ideas to serve the society.

The initiative is a combined programme...

Read more
BSUQ News 47 - Thumb

Qatar Scholarship Programme to accept 100 new recipients

Qatar Scholarship Programme recently introduced 100 new scholarships at an event attended by The Education Above All Foundation (EAA) and the General Directorate of Endowments (Awqaf).

The event also...

Read more

Page Break