RIYADH: According to a forecast by the world football governing body, Saudi Arabia is expected to host a FIFA World Cup in 2034 that outperforms income trends while saving $450 million in expenses. According to the bid evaluation document, ticket and hotel revenue will exceed baseline estimates by 32 percent, or $240 million. FIFA used data from past World Cups to estimate organizing expenses, adjusting for inflation, local economic conditions, the extended 104-match schedule, and the idea of a 14-stadium.
FIFA emphasized Saudi Arabia’s competitive price, omitting items like prize money and team participation fees. Important cost sectors like technical services and security are predicted to be $133 million and $58.9 million below baseline, respectively. In contrast, Qatar paid an estimated $220 billion to host the most costly World Cup in history in 2022. A large portion of that money was spent on roads, stadiums, and public transportation.
Saudi Arabia’s efforts to diversify its economy and lessen its reliance on crude oil have been in line with hosting major athletic events like the FIFA World Cup. Experts told Arab News in November that Saudi Arabia may anticipate a $9 billion to $14 billion increase in GDP from the event, along with the creation of 1.5 million new jobs and 230,000 hotel rooms spread over five host cities.
According to the bid report, Saudi Arabia’s major cost drivers are $378.4 million for television operations, $273.8 million for workforce management, $124 million for transportation, $111.1 million for team services, and $99.5 million for IT and telecommunications. FIFA stated that some cost elements, including staffing costs, event transportation, team housing, and competition administration, are usually projected to stay within baseline levels, while nearly all cost drivers are now predicted to be below the baseline.
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