The FIFA World Cup boosts tourism and the economy of Dubai

The FIFA World Cup boosts tourism and the economy of Dubai.

As the Qatar FIFA World Cup begins, with an expected 1.2 million visitors from around the world, some GCC countries and the UAE can expect an economic boost.

Given its status as the leading regional tourism hub, which provides easy access for tourists to Qatar, Qatar's limited capacity to accommodate football fans implies a massive surge in visitors to neighboring cities such as Dubai. Following the Expo 2020 event, the Emirate anticipates a similar increase in tourists visiting the country in the winter of 2022. Real estate, Food and beverage (F&B), tourism, and hospitality are the main business sectors that stand to benefit from this mega sporting event. Dubai has already established shuttle flights from Dubai to Doha for passengers flying to the tournament between November 20 and December 18, 2022, which will undoubtedly increase traffic to the country. The UAE government also announced its intention to issue multi-entry tourist visas to Hayya Card holders for them to travel more easily to the FIFA World Cup 2022 mega event.

Apart from real estate, the FIFA World Cup 2022 is expected to attract investors and high net-worth individuals (HNWIs) who want to experience Dubai at its peak and take advantage of the UAE's progressive changes in business and residency laws. The real estate market has witnessed record-breaking transactions this year. In addition to the World Cup, the UAE will attract visitors during winter from October to March, with various events, such as the Dubai Shopping Festival, Expo City, Global Village and so much more. Despite the otherwise bleak global economy, businesses can capitalize on the booming local economy. Entrepreneurs will take advantage of the current favorable conditions to invest in new ventures and establish businesses in the UAE.