Published: Сб, Февраля 11, 2017
Medical | By Dorothy Lyons

Qatar Spending $500 Million A Week For 2022 World Cup Infrastructure Projects

Qatar Spending $500 Million A Week For 2022 World Cup Infrastructure Projects

More than $200bn (£160bn) will be spent in total by the gas-rich emirate. "If you look at stand alone, the World Cup, no it is not", the finance minister said. And to do that, Qatar is spending an eye-popping $500 million per week.

The Middle Eastern country is shelling out $500 million every week on infrastructure, stadiums and other projects before it hosts the world's biggest soccer tournament in 2022.

The pressure on the state finances is now easing because of higher oil prices, and Mr Emadi said Qatar might not need to issue global bonds this year. The spending includes new stadiums, which will be used for the 2022 World Cup.

Qatar Spending $500 Million A Week For 2022 World Cup Infrastructure Projects

Previous World Cup hosts have found themselves in massive debt following the prestigious tournament, like Brazil who spent over $11 billion United States dollars for the 2014 World Cup, while Russian Federation is on pace to spend more than $10 billion USD for 2018′s event. The next World Cup is set for 2018 in Russian Federation.

The 2022 World Cup in Qatar will be the most expensive ever.

12 stadiums were originally set to host matches for the 2022 event, nine of which needing to be built, including the 86,000 capacity Lusail Iconic Stadium which will host the opening game and the final.

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Brazil's Maracaña stadium got a face-lift before the 2014 World Cup and 2016 Olympics. Among them, two-thirds would be delivered within the next 24 months.

The decision to award Qatar has caused controversy from the moment it was announced.

Qatar's government has denied the workers are exploited and in December it implemented reforms created to improve the rights of the migrant workers. For that tournament, 48 teams will compete in the group stage and 32 will advance.

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