Posted on May 21, 2016

The Ministry of Economy and Commerce has identified 83 commercial and investment opportunities in sports for the private sector in Qatar. Market size of the sports sector in the country is expected to reach QR72bn by 2023.

The ministry has also prepared action plans for 30 investment opportunities, with a market requirement worth QR22bn to QR30bn to be presented to participants at the Sport Business Opportunities Forum, being held here on May 22. The investment opportunities, that will go directly from the government to the private sector, have been classified into seven sectors: Management and promotion of sporting events; sport development; establishment and construction of sports facilities; merchandise and sports equipment; sports marketing; sport tourism; and operation and maintenance of sports facilitates.

“With the emergence of the role of the sports sector as a key driver of development in Qatar, the Ministry of Economy and Commerce is keen to capture and make the best use of available investment opportunities in the sports sector. Opportunities include the management and operation of current and future sports facilities in order to achieve economic diversification and position Qatar as a global sports hub, in line with Qatar National Vision 2030,” the ministry said in a statement yesterday.

The ministry, in collaboration with the Ministry of Culture and Sports, the Supreme Committee for Delivery and Legacy, Qatar Olympic Committee and Aspire Zone Foundation has conducted an in-depth study on available investment opportunities in the sports sector. Under the patronage of the Prime Minister and Interior Minister of Interior H E Sheikh Abdullah Bin Nasser bin Khalifa Al Thani, the ministry is organizing the Sport Business Opportunities Forum, in partnership with the said bodies, in line with recent developments in sports sector in the Qatar.

These developments include plans to host various international sporting events over the next seven years, including the 2018 Gymnastics World Championships, the 2019 World Championships in Athletics and the 2022 FIFA World Cup, in addition to more than 30 local, regional and international sporting events, hosted in Qatar each year. A series of workshops will be held during the forum with the private sector to shed light on relevant and key investment opportunities that are available in sports sector.

source: The Peninsula