Qatar's World Cup dream at risk
The nation's ongoing diplomatic crisis set to delay construction
by Abi Moses on 13th June, 2017 and updated 13th June, 2017 11:36am
The ongoing diplomatic crisis that has hit Qatar is a serious risk to the nation's ability to host the 2022 football World Cup. Failure to deliver would have a inconceivable impact on the nations finances and reputation.
FIFA's decision to award the World Cup to the Middle Eastern nation was met with huge reservations surrounding the country's accessibility, laws and climate, the last thing the organisers need now is uncertainty regarding its infrastructure.
The traditional summer sporting event has already been moved to the winter to ease fears surrounding the temperature but FIFA insist that a minimum of 60,000 hotel rooms are to be provided, with Qatar also planning to build nine brand new state-of-the-art stadiums and a new metro system in capital city, Doha.
With Qatar economically reliant on its huge oil and gas reserves, the global oil price crash has left organisers fearing the worst, especially as work on the stadia should reach its peak over the next two years.
Furthermore, in recent days Qatar's neighbouring countries have hit the Emirate with harder border controls and travel restrictions. To deliver the World Cup, Qatar will be reliant on both migrant workers and an abundance of imported construction materials. It is estimated that building the stadiums alone will require 36,000 migrant labourers over the next two years.
Construction economist at Global Construction Perspectives, Graham Robinson, said "This diplomatic crisis could not have come at a worse time for the construction of the 2022 World Cup stadia and Qatar’s infrastructure program. The crisis is expected to most acutely affect labour supply and on top of the controversy around workers’ rights, this will be a major blow for the Qatari government. There is the potential for significant disruption and also massive cost overruns as getting construction materials into Qatar to build stadiums may yet prove more difficult, time consuming and costly."
The drop in global oil prices is a major concern for the nation and its World Cup organisers, but will this dip continue? You can trade oil and all other commodities using various brokers found on the Spread Betting homepage.
Sky shares on the rise amid intense takeover talks
by Abi Moses on 25th April, 2018
Cloud storage business recreated Snap IPO
by Abi Moses on 28th March, 2018
The world's first whiskey Cryptocurrency has landed
by Abi Moses on 26th March, 2018
Soft drinks giant to tackle growing Japanese 'alcopop' market
by Abi Moses on 7th March, 2018