- The 2022 Fifa World Cup's revenue will increase significantly from those of the 2018 event.
- That increase is despite the controversies dogging its hosting in Qatar.
The Qatar World Cup is a global phenomenon. A spectacle that brings together people from all walks of life to celebrate the beautiful game. It's also a business and a lucrative one at that. The 2022 World Cup is set to be a record-breaker. Not only is it set to be the first World Cup in the Middle East, but it’s also on track to generate the most revenue.
BanklessTimes.com reports that the Qatar World Cup is expected to bring in over $6.4B in revenue from the 2019-2022 cycle. This amount is a huge jump from the 2018 World Cup in Russia, which brought in about $5.4B. The figure accounts for ticket sales, sponsorships, and broadcasting rights.
The Fifa World Cup is a massive event, not just for the athletes and fans who participate, but for the organizations that run it as well. The tournament is now broadcast in over 200 countries, and viewership continues to grow. Its global appeal draws in sponsors eager to partner with Fifa for their commercial ends.BanklessTimes CEO Jonathan Merry
The $6.4B projection is unsurprising, as Qatar is set to become the most expensive World Cup ever. Analysts estimate that the nation will spend nearly $200B on WC-related infrastructure. That is a whopping 1609% increase from Russia's $11.7B outlay in the 2018 event.
What’s Behind This Huge Jump?
For starters, there's an increase in global interest in football. New markets are opening up worldwide, and football is becoming more popular. It’s no surprise; therefore, that viewership for the World Cup is increasing too. Fifa projects that 5B people will watch the Qatar Showpiece, a 1.5B rise from the 3.5B that watched the event four years ago.
That’s a staggering number, and it expands sponsorship opportunities. As indicated earlier, billions watch the WC globally, making it an extremely powerful marketing tool. Companies can potentially reach millions of new customers by associating their brands with the tournament. Fifa has used this reality to secure lucrative sponsorship deals with companies looking to partner with the event.
Finally, Fifa has since 2014 seen a significant increase in its earnings from the sale of WC broadcasting rights. The World Cup is a heavily covered sporting event in the world. Reporters from all over the globe descend on the host country to document every minute of the action. That has seen media outlets outbid each other for the right to air matches and highlights from the event.
Concerns About Qatar Hosting WC 2022
Soccer fans worldwide are gearing up for what promises to be an exciting tournament, but some are less than thrilled. While Fifa is raking in the dough, there have been concerns about how Qatar won the right to host the 2022 World Cup.
Some have accused Fifa, the governing body of world soccer, of corruption, alleging that Qatar used its vast wealth to buy votes. Others have raised concerns about the country's human rights record, pointing to the plight of migrant workers who are building the stadiums and infrastructure needed to host the event.
Qatar has promised to improve conditions for migrant workers in the run-up to the World Cup, but many remain skeptical about these promises. Critics argue that Qatar is only making these changes because of international pressure and that the country's kafala system makes it very difficult for them to speak out about abuse or exploitation.
However, Fifa has stood by Qatar and defended the country's right to host the World Cup. Fifa president Gianni Infantino has said that Qatar will host "the best World Cup ever," and that the country is on track to deliver a "fantastic event."
Contributors
