World Cup soccer, F1 racing bring tourism fortune to Gulf states

Marquee events such as the 2022 FIFA World Cup in Qatar and Abu Dhabi’s F1 Grand Prix have helped establish Gulf countries as major-league hosts of global tournaments. 

Now they stand to capture a significant share of the global sports tourism market, which is predicted to reach $2 trillion by 2030, according to a Middle East report published by PwC.

Gulf countries have an opportunity to convert their hosting success into a long-term driver of economic growth by building experience-led destinations, immersive fan journeys and a connected regional ecosystem that keeps fans returning throughout the year, the report found.

Sports tourism accounts for about 10% of global tourism spend, but the Gulf region currently only captures about 5-7% of that, leaving room for growth.

Saudi Arabia’s massive investment in sports, largely orchestrated through the Public Investment Fund, is paying off, with the kingdom’s sports market expected to triple to $22.4 billion by 2030, adding $13.3 billion to its GDP.