The entire globe is invited to Qatar for the World Cup by the Middle East. The world’s already opulently wealthy economy anticipates growth in the wake of Qatar’s World Cup decision. The business setup in Dubai is geared up to take advantage of prime time. The Middle East anticipates that five million passengers will fly to Qatar by the end of November. Qatar’s vision for the future is anticipated to take flight, thanks to the hope that money will flow into the country. The 2022 World Cup will be the first time the region has hosted the tournament. The infrastructure was built with the highest grandeur and care, and there were extensive preparations. The tourist industry and allied enterprises will expand to greater heights after the tournament.
The United Arab Emirates was a long-term oil economic paradise. However, the whole Middle East is currently making a significant effort to diversify its economy. The United Arab Emirates is moving forward with concentration and steadiness toward the future. The World Cup is the preeminent opportunity to take an active role in the development of business set up in the UAE.
The World Cup, the contest for supremacy, also promotes harmony and love among the nations. This international competition opens up the possibility of short-term economic advantages for Qatar, but it also draws attention to the logistical difficulties in organizing the event, which will probably have a good knock-on impact for the rest of the GCC. Owing to its vicinity to Qatar, established tourism industry, accessibility to major airports, and availability of multiple-entry tourist visas for World Cup ticket holders, Dubai will be among the countries that benefit most outside of Qatar.
Let’s check out some of the specific industries that will positively grow with the roots of the FIFA World Cup.
What impact would the hope-filled ball have on the business setup in Dubai?
Flydubai, a Dubai airline, said in May that it will provide up to 30 daily round-trip flights from Dubai World Central (DWC) to Doha during the competition. Air Arabia will be running 14 shuttle flights each day between Sharjah and Doha in the meantime. During the football season, flights from all over the world will be en route to the Middle East. The flow of travelers is unaffected by the World Cup’s record increase in airfare. However, the impact on the aviation industry will be brief, and money flows during this time will propel the entire Middle East into the air. The deserts of paradise are intertwined with expectations to capitalize on the global tournament.
Hospitality, food and Beverage Industry
A study released in Dubai claims that as a result of the extraordinary success of the Dubai Expo 2020, business setup in Dubai is already booming. Dubai Expo 2020 raised the city’s profile internationally. From January to August 2022, hotel room costs increased by 43 percent year over year as a result of the Expo, while occupancy rates increased. Through the end of this year, Dubai’s hospitality sector is anticipated to develop even more. The UAE’s top travel destination is widely regarded as Dubai. The World Cup in Qatar will undoubtedly benefit Dubai’s tourism industry and related businesses, and the entire Middle East will benefit from successful growth across all the business setup in UAE.
Dubai is renowned for its opulent lifestyle and travel experiences. The UAE expects that the majority of individuals will opt to remain in Dubai as a consequence. The development of new facilities for mega sports competitions will have an immediate effect on the local economy in Doha. Around eight air-cooled, carbon-neutral World Cup stadiums, fan zones, training grounds, and other outdoor tourism attractions have all been newly constructed. Still, there is a genuine accommodation deficit. The lack of lodging options in Doha will spur growth in the hotel sector in other parts of the UAE. Following the shortage of accommodations in Doha and Qatar, other emirates will become more popular. Although Doha has invested heavily in hotel accommodations and infrastructure for the world’s biggest sporting event, a shortfall remains, meaning many will stop for tournaments in neighboring Gulf countries. People in the UAE’s hospitality industry expect Dubai to be their preferred destination.
Similar to the hospitality sector, the food sector is anticipated to grow during the World Cup. Through the end of the year, the food and beverage sector are anticipated to maintain its excellent performance. The Middle East has always been a popular place for food in recent years. The concept of launching a restaurant in the Middle East, particularly in Dubai, has attracted the attention of renowned chefs from all over the world. Even after the World Cup extravaganza, the food business setup in Dubai will experience a growth in its revenue and services.
How has the World Cup contributed to changes in labour law?
After Qatar was chosen to host the FIFA World Cup in 2022, the country’s authorities made a lot of notable improvements. We must not forget about the labors and their problems, as they have always been the backbone of business setup in UAE. The main debate that erupted was around migrant labour. Several large nations and Western nations have questioned Qatar’s migrant labour program. As a result, their labor regulations have undergone revision.
The International Labour Organization (ILO) and Qatar established a technical cooperation program in 2017 and a Doha project office in 2018, respectively, as the first steps in their reform path. Since then, the nation has made various announcements on changes to its labour laws, including the elimination of the Kafala (sponsorship) system that is utilized throughout the Gulf area. Additionally, Qatar has established a minimum wage law and a pay protection mechanism to ensure compliance. The maximum daily work hours have also been established, and heat stress prevention measures have been implemented.
All these reformations have greatly affected the business setup in UAE. Qatar’s labour plan and related reformations have positively affected the entire United Arab Emirates. It could only make better changes to work policies and subsequently the growth of industries and companies in the middle East.
The world’s attention is on the deserts as the ball will eventually roll through Qatar. The whole UAE economy is likely to feel the heat from football. Arab nations’ overall reputation will improve because of their compassion and generosity. On the political level, the World Cup might help to improve troubled intra-Gulf relations in recent years. On this occasion, Saudi Arabia is also enabling World Cup supporters to make a little pilgrimage using their Hayya cards. The whole Middle East grants all of these benefits in order to boost its commercial and tourism infrastructure. In the annals of business setup in UAE and company setup in Dubai, November and December of 2022 will be etched with iconic titles.
The love of football is going to transform into business and wealth in the future. As we have seen, the World Cup has always served as a stepping stone for the nations who host it. UAE has shown its maximum effort in scheduling and managing all the necessary needs for the world cup. Now, let’s wait for the world to come and flourish the economy of gulf countries. Don’t forego the fantastic opportunity to establish a business setup in UAE. Give us a call right away.