Sports tourism a vital growth driver for Qatar: PwC
'This success has created a positive impact boosting the tourism and hospitality sectors across the region by up to 30%,' PwC said, adding the Middle East region's sports market is projected to grow at an 'impressive' rate of 8.7% over the next three to five years, outpacing the global average of 7.3%.
This growth (in the Middle East sports sector) will be fuelled by significant investments in premium sports properties and infrastructure, alongside ambitious initiatives to increase grassroots participation, it said, adding 'looking ahead, the region's sports sector faces both opportunities and challenges as it balances commercial growth with sustainable development.'
Qatar continues to leverage its post-World Cup momentum through strategically bidding for, and hosting, major sporting events such as the FIFA Arab Cup in 2025, 2029 and 2033; FIFA U17 World Cup in 2025 through 2029 and the Web Summit for 2024 through 2028, PwC said.
Highlighting that Qatar's successful hosting of the 2022 FIFA World Cup and Saudi Arabia's selection for the 2034 edition demonstrates the region's capability; the report said the region's position in global sports investment has strengthened significantly. Sovereign wealth funds, including Middle Eastern funds, now lead 24% of global sports investments, it said, adding Qatar Sports Investments' $200mn investment in Monumental Sports, which owns clubs and arenas in the US, reflects a growing focus on international portfolio.
Finding that the region is pioneering new commercial models, notably in emerging sports sectors; it said Qatar's investments in Formula 1, the UAE's development of combat sports, and Saudi Arabia's Esports initiatives demonstrate the breadth of commercial opportunities being pursued. The Middle Eastern sports consumer is highly digitally engaged, with over-the-top (OTT) services like Shahid VIP and beIN Connect revolutionising how fans consume sports content. Innovations from entities like the Qatar-based SponixTech (immersive replays) and Saudi Arabia-based Fanera (fan experience platforms) underscore the region's leadership in digital sports transformation.
Social media is a key driver of fan engagement, with platforms like TikTok, Instagram, and X playing a central role; PwC said penetration rates in the Middle East highlight the widespread use of social platforms, with the UAE at 115%, Saudi Arabia at 96.2% and Qatar at 96.8%.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Santhosh V. Perumal
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Campaign ME
7 hours ago
- Campaign ME
Carla Klumpenaar on IKEA's shift from affordability-first to quality
For years, IKEA's positioning in the Middle East has been built on accessibility – well-designed furniture at prices that opened up design to the many. That promise remains, but as consumer expectations evolve, the brand is broadening its definition of value. 'Value is built into quality, not traded for it,' shares Carla Klumpenaar, GM Marketing and Communications for IKEA across the UAE, Qatar, Egypt and Oman with Campaign Middle East. She sees a clear shift in regional demand, with customers moving away from fast trends towards pieces that tell stories and stand the test of time. 'Customers are increasingly moving beyond fleeting trends, now prioritising enduring craftsmanship, lasting value, and products with compelling stories.' This is the backdrop for Stockholm 2025, IKEA's latest collection and a reflection of how the brand is repositioning in the region. First launched 40 years ago, the Stockholm line has always represented a more premium expression of IKEA's design values. The 2025 edition takes that heritage and places it firmly within a Middle Eastern context. 'The new collection arrives as a quiet revolution,' says Klumpenaar. 'Not the loud kind of premium, but the kind you live with… design that's meant to be used, loved, and passed on.' The emphasis is on tactility and detail: mouthblown vases, oak chairs designed to improve with age, chandeliers that arrive with white gloves. Klumpenaar frames these as symbols of IKEA's evolving narrative of value – one that rests as much on materials and longevity as on affordability. 'At its heart, Stockholm is a celebration of what's been done by hand, by heart, and by those who believe that beauty lies in the details,' she explains. While Scandinavian minimalism underpins the range, its warmer tones and textured finishes speak to Middle Eastern sensibilities, offering familiarity without losing design purity. 'The collection embraces the minimalist and functional character of Scandinavian design while effortlessly resonating with diverse cultural aesthetics, including those of the Middle East,' Klumpenaar says. This ability to adapt without diluting the core identity is central to how IKEA intends to remain relevant across the region. Equally important is how the brand brings the story to life. IKEA's marketing strategy for Stockholm 2025 blends digital and physical touchpoints, with social media content showcasing the tactility of the pieces, and in-store displays designed to let customers engage with them directly. 'The in-store experience is essential,' says Klumpenaar. 'Given its tactile and material-led nature, it's essential for customers to physically engage with the textures, finishes, and craftsmanship that define the collection.' Designers are also featured in the rollout, narrating the process behind each piece to underline the human craftsmanship behind the work. Beyond the launch itself, IKEA is signalling a broader marketing pivot in the Middle East: one that places emotion, storytelling and individuality at the core of its positioning. As Klumpenaar puts it, 'Homeowners in the UAE are actively moving beyond cookie-cutter designs, seeking unique touches and pieces that genuinely reflect their personalities. This is the beauty of Stockholm 2025 – its versatility enables customers to build a unique space that feels layered, lived-in, and thoughtfully curated over time.'
Int'l Cricket Council
13 hours ago
- Int'l Cricket Council
England reveal star-studded squad for Women's World Cup 2025 ICC Cricket World Cup, 2025
England have revealed their power-packed 15-member squad for the upcoming ICC Women's Cricket World Cup 2025, starting 30 September. Having been appointed as the all-format skipper in April, ICC No.1 Ranked Women's ODI Batter Nat Sciver-Brunt will lead England for the first time ever at an ICC event. Squad: Nat Sciver-Brunt (C), Em Arlott, Tammy Beaumont, Lauren Bell, Alice Capsey, Charlie Dean, Sophia Dunkley, Sophie Ecclestone, Lauren Filer, Sarah Glenn, Amy Jones, Heather Knight, Emma Lamb, Linsey Smith, Danni Wyatt-Hodge. Former skipper Heather Knight returns to the squad after having been on the sidelines for the last few months due to a tendon injury in her right hamstring. Sarah Glenn and Danni Wyatt-Hodge also come back to England's ODI squad after missing the series against India earlier this summer. Glenn, part of a strong spin contingent led by No.1 Women's ODI Bowler Sophie Ecclestone, is among four specialist spinners and one of six players set to feature in their first ODI World Cup. Squad regulars Tammy Beaumont, Sophia Dunkley, Amy Jones, Charlie Dean and Linsey Smith retain their place as England aim to replicate their 2017 heroics. Head Coach Charlotte Edwards expressed her delight at the squad announcement, highlighting the prestige of representing the country in a World Cup and the challenge of competing in India. 'Being selected to play for your country in a World Cup is one of the biggest honours in sport and I'm delighted for all the players named in the squad," she said. 'Like all global tournaments, it will be a huge challenge but we want to go as far as we possibly can in India and I believe that if we play our best cricket we can compete with anyone. 'Conditions mean we have gone for the extra spinner and we're lucky to be able to have such depth in this department. It's fantastic to welcome Sarah Glenn back. That does mean there's no room for Kate Cross, Maia Bouchier or Alice Davidson-Richards, which will be disappointing for them. Every Danni Wyatt-Hodge boundary | WT20WC 2024 'It's also great to have Danni back in the squad, she's been in good form in domestic cricket and she'll bring dynamism and depth to our batting, alongside Heather, who we are absolutely delighted to be able to select. She'll be a huge asset for us. 'India is an amazing place to play cricket, and as a group we have a huge opportunity to go and do something special. ODI World Cups are the pinnacle of our sport. They only come around every four years and we're so excited to get over there to start our preparation.' #WWC17 FINAL: England Winning moment Let the celebrations begin as England claim the ICC Women's Cricket World Cup in 2017 The four-time Women's Cricket World Cup champions will be looking to add one more to their collection, having won the maiden event back in 1973 and subsequently in 1993, 2009 and 2017 as well. England kickoff their campaign against South Africa on 3rd October in Bengaluru.
Zawya
a day ago
- Zawya
Easing Inflation, FX Market Stability Steadies Nigeria's10-Year Bond Yield at 15.95% — PwC
Nigeria's 10-year bond yield has steadied at 15.95 percent, easing from 18.73 percent in June, according to Pricewaterhouse Coopers (PwC). The consulting firm attributed the moderation to easing inflationary pressures, relative stability in the foreign exchange (FX) market, and sustained monetary tightening by the Central Bank of Nigeria (CBN). The findings were contained in PwC's latest report titled 'Mid-Year Review and Updates: H2 2025 Economic Outlook, 'released on Tuesday. The firm noted that improved investor confidence is supporting financial market stability even as credit conditions remain tight. PwC highlighted that the CBN maintained the Monetary Policy Rate (MPR) at 27.5 percent in July 2025, up from 27.25 percent in November 2024, as part of its inflation-fighting strategy. The commercial banks' Cash Reserve Ratio (CRR) was also retained at 50 percent. The report explained that while the lower bond yield reflected optimism, maximum lending rates remained high at 29.78 percent in Q2 2025, underscoring tight credit conditions for households and businesses. Headline inflation declined for the fourth consecutive month to 21.88 percent in July 2025, compared with 22.22 percent in June. The slowdown was linked to base effects and exchange rate stability. However, PwC cautioned that short-term price pressures persist, as month-on-month inflation rose to 1.99 percent in July, from 1.68 percent in June. PwC projected that inflation will decelerate further in the second half of 2025, buoyed by rebasing effects and the CBN's tightening stance. The report also highlighted the CBN's aggressive measures to stabilise the naira. In the first half of 2025, the apex bank injected $4.1 billion into the FX market, a 215 percent increase from $1.3 billion in the same period of 2024. In addition, the CBN introduced new diaspora-focused instruments—the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA)—to boost remittance inflows and encourage diaspora participation in the domestic capital market. Nigeria's economy received a boost from the recent GDP rebasing exercise, which shifted the base year to 2019. The rebasing expanded the economy from ₦277.5 trillion to ₦372.82 trillion, providing a more accurate measure of economic activity. Following the adjustment, real GDP grew by 3.13 percent in Q1 2025, compared with 2.27 percent in Q1 2024. The strongest growth was recorded in Finance and Insurance (15.03 percent), ICT (7.4 percent), Construction (6.21 percent), and Real Estate (4.61 percent). PwC projects overall GDP growth of 3.4 percent for 2025, supported by higher crude oil output and stronger non-oil sector performance. PwC expects the CBN to sustain its tight monetary policy in the second half of the year, focusing on achieving long-term price and financial system stability. The firm emphasized that reforms aimed at deepening remittance flows, stabilising the FX market, and strengthening banks' capital adequacy will be key to sustaining growth momentum. Despite easing inflation and improved investor confidence, PwC warned that businesses and households will continue to face elevated borrowing costs, with credit conditions remaining constrained in the near term. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
