December 2022 (not in June) will receive the best soccer teams on the planet. So far so good. However. as happened to Russia in 2018. Brazil in 2014 and South Africa in 2010. there are doubts about how it will reach the opening date in terms of stadium construction. even more so knowing that it practically had to start from scratch. “Qatar is experiencing economic complications due to the US $ 200.000 million in infrastructure works that it will require to prepare for the 2022 Soccer World Cup.” Bloomberg published this Friday .
The US economic media speaks of a contraction of 1.2% in the first quarter of 2019 compared to the same period of the previous year. It is the first year-on-year Colombia Phone Number drop since data from the Qatar Planning and Statistics Authority began to be available. Before this drop. it had grown at an annual average of 18% since the end of 2012. This slowdown is holding back the broader economy as industrial production. excluding oil and gas extraction (central gears in Qatar). is up less than 2% in the last six months. The drop is surprising because.
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Qatar’s gross domestic product has increased 10-fold since 2000. to $192 billion last year. according to the World Bank. The construction in the Asian country practically revolves around the 2022 Cup. Since 2010. when it unexpectedly won the rights to organize the most important sporting event in the world. With the World Cup as an excuse. he decided to take the opportunity to improve his infrastructure. building roads. subway lines and thousands of hotel rooms. However. the construction boom began to show fissures at the end of 2018 and is slowing now. just as the country enters the final stretch towards the FIFA tournament.
Meanwhile. the rest of its economy is almost stagnant. since mining. the other great axis on which the Qatari economy revolves. is also contracting. Qatar is aiming everything at one goal: to expand its capacity to liquefy natural gas in the coming years. Bloomberg says that “the impact will be massive because it is a big project for a relatively small economy that will attract investment and offset the slowdown in construction heading into the World Cup.” Unquestionably. soccer is one of the most profitable businesses in the world of sports and entertainment.
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Hence the main brands seek to be linked with the main clubs in the world; Nike is one of the companies that is looking for The most prominence and the new contract with PSG proves it. The swoosh firm signed an extension with the. French team for 700 million euros to remain its main sponsor for the next thirteen seasons. that is. until 2032. The agreement. described as the largest in the history of Paris Saint-Germain . Not only includes being the brand that dresses the first team that has figures such as. Kylian Mbappé. Edinson Cavani. Thiago Silva and Neymar (he could return to Barcelona).
Nike will also dress the women’s team and other representations of the. Club such as lower divisions and the handball club. “This agreement represents a very important step. Reflecting what the club has become on the world stage. And the great ambitions we have for the future. Said PSG president Nasser al-Khelaifi. Approaches the big ones. But there’s still distance Although the exact economic terms have. Not been disclosed. the specialized media. L’Equipe points out that the 700 million euros will be distributed between 50 and 55 million euros per season. Which would bring PSG closer to the big. European teams with contracts sponsorship millionaires.