Qatar, which will host the 2022 FIFA World Cup, has showcased opportunities worth $20bn before high profile global leaders in the sports industry at the recently held event in New York.
The Qatar Financial Center (QFC), Aspire Zone Foundation, and Qatar Development Bank jointly hosted a master-class sponsored by the Sport Accelerator – Qatar Sport Business District, where it discussed the investment opportunities available in the various sectors of Qatar’s sports market and the platforms accessible to businesses looking to tap into this robust industry through the new pioneering sports business hub, the Sport Accelerator.
The Sport Accelerator offers a comprehensive ecosystem for businesses looking to access the Qatari sports market by working with its network partners to provide best-in-class services including business incorporation, a transparent legal and regulatory framework, as well as access to experienced sports business experts.
“Qatar’s sports industry remains multi-faceted and offers investors ample opportunities in various sub-sectors ranging from sports marketing to event management and promotion, as well as many others. These diverse opportunities can be fully utilized and accessed through the QFC’s unique onshore business platform,” said Jassim al-Muftah, director, marketing and corporate communications, QFC.
Sports is one of the key focus industries of the QFC as outlined in our strategy, along with other important sectors, Laila al-Jefairi, manager, business development, QFC said at the Leaders Sport Business Summit 2019, which welcomed over 1,000 speakers and attendees from over 50 countries around the world, including global directors of FC Barcelona, CBS Sports as well as many others.
“Our strategic focus on sports is a result of Qatar’s established track record as a global sports hub, as well as the great potential for even more future growth that the industry is yet to achieve,” she said.
In the sports industry alone, Qatar has already established world-class infrastructure, thanks to robust investments, and has leveraged this by hosting international sporting events, which are set to bring even more economic impetus, with the sports industry estimated to be valued at $20bn by 2023.
The QFC is aiming to attract sports consultancy and advisory, sport legal advisory, sort financing and contracting sport event management and promotion, sport technology companies. Start-up Bootcamp is already a QFC client of sports marketing and commercialization and sports education.
“Investing in the sports sector is one of the pillars of our strategy at Aspire Zone Foundation. The QFC’s focus on sports and other important sectors underscores the growth potential of these industries in Qatar and internationally,” Ali al-Mutawaa, chief of enterprise and development officer, Aspire Zone Foundation, had said earlier this year.