The Kingdom of Saudi Arabia has secured the prestigious opportunity to host the FIFA World Cup 2034. The decision brings the world’s largest sporting event back to the Gulf region for a second time in less than ten years. And this also demonstrates Saudi Arabia’s rising global presence and influence.
The Kingdom of Saudi Arabia is all set to host the FIFA World Cup 2034. The decision brings the world’s largest sporting event back to the Gulf region for a second time in less than ten years. And this also demonstrates Saudi Arabia’s rising global presence and influence.
This opportunity perfectly supports Vision 2030, Saudi Arabia’s visionary plan to transform the economy beyond its dependence on oil. During the past eight years as a part of this vision, the Kingdom dedicated trillions of dollars to modernizing infrastructure, developing new industries, and welcoming international tourism.
The hosting of FIFA World Cup 2034 is beyond an athletic achievement. It serves as a tactical move to promote tourism and draw international business investments along with showing the kingdom’s potential worldwide. This is the perfect time for international businesses to invest in Saudi Arabia and explore some amazing business opportunities offered by the kingdom.
The upcoming FIFA World Cup 2034 is expected to motivate the young population of Saudi Arabia and further the advancement of the kingdom. The matches will take place in 15 well-built stadiums across the five major cities with Riyadh and Jeddah included. Saudi Arabia has dedicated itself to hosting this world-class event by building 11 new sporting stadiums.
The current infrastructure development will contribute to the existing $1.3 trillion capital investment which began in 2016 through major projects such as NEOM and The Line. International businesses and investors should utilize this opportunity to invest in Saudi Arabia and benefit from economic progress. Saudi Arabia aims to become the most favorable global tourism destination by 2030. The government targets to attract 150 million tourists a year out of which 70 million are from countries outside Saudi Arabia.
“Winning the bid sends a clear signal: Saudi Arabia is not only ready to be on the world stage but determined to redefine the region’s tourism narrative,” said Anita Mendiratta, special adviser to the secretary general at UN Tourism.
The World Cup will bring both tourism growth and will make Saudi Arabia attractive to foreign investors wishing to explore the expanding markets of the Kingdom. International companies will discover multiple business prospects to invest in Saudi Arabia and participate in the kingdom’s exciting future through the sectors of infrastructure development, hospitality, retail, and technology.
Saudi Arabia has also received criticism from various groups for the bid. Many advocacy groups have voiced worries about human rights issues and the exploitation of migrant labor. The World Cup hosted by Qatar in 2022 has also suffered similar criticisms. But it proved to be wrong and Qatar effectively conducted the event successfully. Saudi leaders will analyze these past tournaments to conduct an event that combines both progress and ethical standards.
The government of Saudi Arabia has taken measures to resolve financial sustainability concerns as well. It is estimated that the debt-to-GDP ratio of Saudi Arabia will reach 35% in 2030. Still, this is much lower when compared to other developed nations. However, according to economists, this situation is manageable because of the solid financial standing of Saudi Arabia. These investment-friendly conditions attract global companies to invest in Saudi Arabia and participate in the diverse economic growth of the kingdom. The Kingdom’s decision to host the FIFA World Cup 2034 represents its aspiration to position itself as the lead player at the global level.
