The 2022 FIFA World Cup, which featured 32 teams from five confederations competing in 64 matches over the course of 29 days, is expected to bring in $35 billion (Pakistani Rs8.75 trillion) in betting revenue for bookmakers around the world.
The CEO of Qatar World Cup 2022, Nasser al-Khater, predicted that the FIFA event would boost Qatar’s economy by $17 billion while it was taking place.
In this article, one US dollar was converted to 250 Pakistani rupees, which is more than the interbank greenback-to-Pak Rupee parity but less than the underground market value of US currency.
The amount of money that could have been wagered is thus more than double the profits realized by Qatar after Argentina trampled all over France in Sunday’s hotly contested final.
According to Barclays analysts, internet gambling increased during the terrible pandemic, and $35 billion will be bet on the 2022 FIFA World Cup, a 65% increase over the previous edition, according to a story published on November 28 by eminent US media outlet The Bloomberg.
Although Brazil was the overwhelming favorite to win the World Cup, numerous online betting services correctly predicted Argentina would win and take home the trophy — even though the majority had predicted the game would be a draw for the entire 90 minutes. To put it another way, the odds were stacked against France from the start. However, in extra time, betting patterns shifted dramatically in favor of both teams.
In the 11 years since winning the bid to host the World Cup, Qatar has reportedly spent at least $229 billion (Pakistani Rs57.25 trillion) on infrastructure. According to a May 5 article in “Reuters,” Qatar has reportedly spent at least $229 billion (Pakistani Rs57.25 trillion) on infrastructure in the 11 years since winning the World Cup bid.
Following are some additional financial aspects of this World Cup as reported by dozens of international media outlets over the last few months or so:
In order to host the World Cup, Qatar spent $6.5 billion (Pak Rs1.625 trillion) to build seven new stadiums and renovate another.
The 2022 FIFA World Cup in Qatar is expected to generate $7.58 billion (Pak Rs1.895 trillion) in revenue, breaking the previous record of $5.4 billion (Pak Rs1.35 trillion) set by the 2018 World Cup in Russia.
The four-year event is expected to boost Qatar’s GDP by 4.1% in 2022. Qatar hopes to boost its tourist industry’s contribution to GDP to 12% by 2030 as it recovers from the effects of Covid.
There is no denying that the Qatar World Cup has had a significant economic impact on the hotel industry. Over 150 new hotels have been built specifically for the tournament, which is expected to attract 1.5 million tourists to Qatar.
According to international real estate advisor Knight Frank, Qatar’s hotel sector could grow by 89% to more than 56,000 rooms by 2025, at a cost of more than $7 billion (Pak Rs1.75 trillion).
More than three billion football fans will be glued to their television screens during the FIFA World Cup in Qatar.
In addition to TV networks paying top dollar for broadcast rights, sponsors were expected to spend a record amount of money—up to $1.72 billion (Pak Rs430 billion)—on advertising during the event.
According to data, Chinese companies were the event’s largest sponsors, spending $1.4 billion (Pak Rs350 billion).
Most notably, Argentina striker Lionel Messi, widely regarded as one of the greatest footballers of all time, is expected to compete in his final World Cup. Cristiano Ronaldo, 37, is also expected to wear the Portuguese jersey for the final time.
Stadium cooling systems and accommodation purchases such as private islands, villas, apartments, and hotels are just a few examples of such exorbitant costs. Looking only at Doha, The Pearl, a hotel complex, cost more than $15 billion (Pak Rs3.75 trillion), while the Doha Metro cost $36 billion (Pak Rs9 trillion).
Furthermore, investments in brand-new communities such as Lusail City, which is centered on Lusail Stadium, include 22 hotels, 200,000 homes, a theme park, two marinas, and two golf courses.
“FIFA has increased its World Cup revenue by more than $1 billion (Pak Rs250 billion),” The Guardian reported on November 21, 2022.
The four-year cycle of the Qatar World Cup will bring in $7.5 billion (Pak Rs1,875 billion), an increase from the previous cycle in Russia’s $6.4 billion (Rs1.6 trillion) (which included an additional five months due to the winter scheduling).
FIFA officials estimate that the windfall will generate an additional $700,000 in game investment, with $300,000 set aside for emergency Covid funding.
The prize money for the 2022 World Cup has increased by $440 million (Pak Rs110 billion) since 2014, when it was $358 million (Rs89.5 billion) and $400 million (Rs100 billion).
FIFA announced in April 2022 that the Champions will receive a purse of $42 million (Pak Rs10.5 billion), an increase of $4 million (Rs1 billion) over the 2018 prize money. Prior to 2006, championship teams received more than $10 million (Rs2.5 billion).
The prize money for the 2022 World Cup has increased by $440 million (Pak Rs110 billion) since 2014, when it was $358 million (Rs89.5 billion) and $400 million (Rs100 billion).
Winners In 1982, Italy earned an estimated $2.2 million. (Rs550 million in today’s money). Only making it to the competition would earn each team a $1.5 million (Rs375 million) participation fee. However, winning the knockout rounds resulted in far larger payouts for teams.
According to FIFA’s prize money breakdown, reaching the semi-finals ensured that the four top teams received more than the amount given to the 2006 World Cup winners.
