Journals
Online ISSN: 2519-9730 | Print ISSN: 2523-0565
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Volume 7 Number 4 December 2022
FIFA World Cup 2022: Does it push the Economic Growth of Qatar and Argentina toward Better? Preliminary Review
Pages: 71-76Authors: Omer Allagabo Omer Mustafa*
Abstract
The twenty-second edition of the FIFA World Cup was held in the State of Qatar (from November 20 to December 18, 2022). The paper aims to answer the question of whether the FIFA World Cup (2010-2018) had a strong positive impact on the economies of the host countries (South Africa 2010, Brazil 2014, Russia 2018). Moreover, the World Cup-winning countries (Spain 2010, Germany 2014, and France 2018). Then explore the primary effects on Qatar’s economy as the country hosting the 2022 World Cup, as well as on Argentina as the winning country of the 2022 World Cup. The results show that there is no consistent pattern of the World Cup’s impact on the economies of those countries. Some countries’ GDP growth increased slightly after the World Cup while others were in a better position before the Cup. Qatar’s GDP growth in quarter 2 of 2022 increased to 6.3% compared to 3.6% in quarter 1. When comparing the GDP growth in quarter 1 and quarter 2, we find that the average increase is approximately 57%. Therefore, we can estimate GDP growth in quarter 3 and quarter 4 is 9.8% and 15.3% respectively. This means that Qatar’s economy is expected to grow by 8.7% in 2022, 9% in 2023, and 5% in 2024. The Argentine economy grew significantly in the year preceding the victory, reaching 10.4% in 2021 compared to (9.9) % in 2019. The Argentine GDP growth increased from 6.0% in quarter 1 to 6.9% in quarter 2 and declined to 5.9% in quarter 3. Consequently, expecting that quarter 4 of 2022, 2022, 2023, and 2024 will achieve 6.5%, 7.0%, 7.3, and 7.5 respectively. Hence, it is not expected that Argentina will be in a better economic situation than it was before winning the Cup, as its GDP achieved a high growth of 10.9% in 2021.
