• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

World Cup excitement and tourism to add billions to GCC economies

3 years ago
in Features, highlights, Home, home-news, latest News, Lifestyle, Sports
1 min read
0 0
0
59
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Cup excitement and tourism to add billions to GCC economies

This Sunday, the world’s biggest sporting event kicks off when hosts Qatar meet Ecuador. Alongside the excitement on sporting grounds, the FIFA World Cup 2022 will also provide a major boost to GCC economies through fan excitement and tourist spending.

Football’s premiere event is expected to draw more than 1.2 million visitors to the Gulf nation over the course of the 5-week World Cup period, as fans (and football-savvy residents) gear up for the first World Cup ever to be hosted in the Middle East.

According to a new report by RedSeer Strategy Consultants, the influx of tourists – and increased spending by local populations keen on joining in on the excitement – will provide a massive $4 billion uplift to GCC spending levels.

The hotels and hospitality sector will be the top beneficiary, with hotels in Qatar expected to see 95% occupancy through the period.

But with tourist inflow into Qatar at >50% of the annual inflow that the country sees in a typical year, under-capacity means that a serious share of tourists will turn to neighbouring countries in Gulf Cooperation Council.

The UAE, Kuwait, Bahrain, Saudi Arabia and Oman have welcomed this opportunity, with attractive accommodation options being rolled out along with daily shuttle flights to Doha.

RelatedPosts

Value of Mobile Money Transactions Hit GHS 323.2bn in June

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

Hotels have tapped into the opportunity with special World Cup packages, in sync with transportations support. Dubai will be the main neighbouring hotspot, with 30 daily flights to Doha during the event.

The tourist inflow will also provide a strong boost to the retail and e-commerce scene. Analysis by RedSeer Strategy Consultants predicts that a number of direct and indirect spending avenues will lift total sales in the October-November months to $70 billion, up from $61 billion last year.

“Retail spending from tourists is expected to be over $400 million,” said Sandeep Ganediwalla, managing partner of RedSeer Strategy Consultants in the Middle East.

“This year, two third of local consumers who will engage with the mega football tournament expressed their intention to spend more, across retail sectors, during the tournament. This is expected to lift retail sales by $2.8 billion.”

Combined with organic growth (due to growing popularity of major discount events such as Black Friday and a maturing e-commerce landscape), the Middle East’s retail sector will in the coming months face its largest opportunity ever.

“A significant portion of the spending will happen through online channels. which will also heavily influence offline purchases. Brands and retailers should double their focus on digital media during this period to maximize value creation for themselves and their target consumers,” recommended Ganediwalla.

Other sectors that will benefit from the World Cup and tourist include grocery retail, advertising, entertainment, media, and culture.

Tags: GCC economiesWorld CupWorld Cup excitement and tourism to add billions to GCC economies
No Result
View All Result

Highlights

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Trending

Business

Value of Mobile Money Transactions Hit GHS 323.2bn in June

August 4, 2025

Value of Mobile Money Transactions Hit GHS 323.2bn in June The total value of mobile money transactions...

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

August 4, 2025

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

August 4, 2025

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

August 4, 2025

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.