The city of dreams, Dubai, is all set to welcome the FIFA World Cup kicking in by November along with millions of dirhams. It’s a bumper winter for UAE with 5 million people tuning into the tournament, resulting in an overwhelming tourism sector.
Although the World Cup is about to take place in Qatar, a huge global audience is expected to spread across the UAE. An air of optimism is hovering throughout UAE, as Qatar’s host city- Doha, deals with an accomodation crunch. A report states that more than one million football fanatics are responsible for a boost in the tourism sector. It is concluded that Doha’s World Cup hosting is most likely to benefit Dubai the most, given its geographical proximity, strong flight connections, multiple-entry tourist visa and widespread tourism offerings.
According to the World Trade Organization, ‘UAE is the world’s fastest-growing economy and sports tourism destination. As on date, it is valued at an estimated $600 billion (Dh 2.2 trillion), with an expectation of 25% increase.
Dubai gains from FIFA World Cup 2022:
- Luxury hotel prices have spiraled up remarkably with an increase in demand.
- An exorbitant tariff charge has led to tourists opting for vacation homes, resulting in a high demand for short-term rentals. Because of which, landlords have switched from a one-year rental to a one-month rental.
- An entry of HNWIs and millionaires for the tournament will give them first-hand experience of luxury, lifestyle and real estate development in the city. This exposure is most likely to attract them towards investing in Dubai.
- The highly-anticipated event is set to cause a crowded Dubai airport and play the role of a ‘major gateway’. About 54 flights are expected to operate between Dubai and Qatar, allowing fans to watch the match and fly back to Dubai the same day.
- Dubai Expo 2020 amplified the international visibility and the FIFA World Cup 2022 is expected to augment the real estate market in a similar fashion.
- Looking at the real estate standpoint, a ‘spillover’ tourism has led to packed short-term rental options. A scarcity in property supply has accelerated the prices further.
- The tournament gains are not restricted to the real estate and hotel industry. An influx of visitors is about to have a promising effect on B2B and B2C businesses.
- The mega sports event is certain to depict benefits beyond real estate. An upscale in sectors like- food and beverages, retail, logistics or any ancillary industry will have a cumulative effect on the economy.
- Some of the Dubai property management firms have unveiled exclusive packages for football fans including a five-star luxury stay, limousine ride and a private plane. On the other hand, there are multiple options for those looking out for budget packages as well.
- Dubai has arranged live-streaming sessions across multifold venues with an-inclusive football ambience for those unable to travel to Qatar. An incredible experience is indeed promised.
CEO FIFA World Cup Qatar 2022 Nasser Al Khater states that FIFA estimates that the World Cup returns can reach $6 billion.