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    DATA   GB00B87ZTG26

GLOBALDATA PLC

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Delayed London Stock Exchange  -  05:35:41 2023-02-02 am EST
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FIFA World Cup, rising fossil fuel exports to drive Qatar economy at 4.6% in 2022, says GlobalData

11/25/2022 | 10:28am EST

FIFA World Cup, rising fossil fuel exports to drive Qatar economy at 4.6% in 2022, says GlobalData.

The much awaited 22nd FIFA men's World Cup is taking place in Qatar from 20 November to 18 December 2022. The small and oil and natural gas-rich Arabian Gulf nation has reportedly spent $200 billion so far on infrastructure to accommodate over one million visitors during the month-long sports extravaganza. Against this backdrop, the Qatar economy is expected to grow at a faster pace of 4.6% in 2022 compared to 1.5% in 2021, forecasts GlobalData, a leading data and analytics company.

The much-awaited football tournament is expected to not only put Qatar on the global map as the epicenter of international tourism and business activities but also provide a major boost to the economy. The country has spent enormous amounts of money to upgrade infrastructure in hospitality, power generation, 5G telecommunications and transport.

Bindi Patel, Economic Research Analyst at GlobalData

'Qatar's economy will not only be driven by the investments and rising tourist inflows during the World Cup but also from higher exports of fossil fuels amid the rising demand from European nations.'

GlobalData projects the number of international arrivals in the country to rise by 162% over last year to 2.2 million in 2022. With a surge in tourist inflows and an increase in tourism spending during the World Cup, the wholesale and retail sector are forecast to record a growth rate of 7.6%, whereas investments to upgrade road, railways, and airports are expected to boost the construction sector by 7.3% in 2022.

In terms of potential ticket revenue, GlobalData forecasts an estimated $360.3 million for Qatar across 64 games due to be played during the World Cup. There are 27 active partnerships held by FIFA and the Qatar World Cup, out of which seven hold an estimated value more than $100 million for the current rights cycle alone. The total sponsorship revenue from these 27 deals alone comes out at an estimated value of $1.7 billion.

Huge infrastructure investments have also opened millions of job opportunities in key sectors including construction, real estate, and hospitality. GlobalData forecasts the unemployment rate in Qatar to decline to 0.7% in 2022 from 1.8% in 2021. Rising employment opportunities is also expected to boost domestic demand and real household consumption expenditure is projected to rise by 6.3% in 2022 compared to 3.7% in 2021.

Patel concludes: Although Qatar is the first Arab nation to host the world's biggest sporting event, which has demonstrated the region's capability in hosting international events, several concerns including corruption scandals, terror financing, and human rights violation continue to remain a cause of concern towards the overall development of the economy.

About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

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Financials
Sales 2022 242 M 298 M 298 M
Net income 2022 40,8 M 50,2 M 50,2 M
Net Debt 2022 271 M 334 M 334 M
P/E ratio 2022 41,4x
Yield 2022 1,79%
Capitalization 1 439 M 1 771 M 1 771 M
EV / Sales 2022 7,06x
EV / Sales 2023 6,05x
Nbr of Employees 3 624
Free-Float 29,3%
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Last Close Price 1 280,00 GBX
Average target price 1 825,00 GBX
Spread / Average Target 42,6%
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Michael Thomas Danson Chief Executive Officer & Director
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Murray Legg Independent Non-Executive Chairman
Peter Martin Harkness Independent Non-Executive Director
Catherine Birkett Independent Non-Executive Director
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