Qatar 2022 spending $500 million weekly

Posted February 11, 2017

Well today the future of the World Cup is in the news as the word comes down that Qatar is shelling out almost half a billion dollars a week on the 2022 event.

Despite these staggering disparities, Emadi insists Qatar's World Cup will not be the most expensive in history.

As reported by World Soccer's Jamie Rainbow, this will amount to more than $200 billion by the time the tournament rolls around. And to do that, Qatar is spending an eye-popping $500 million per week.

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The minister expects spending to continue at that level for three to four years as new stadiums, motorways, rail links and hospitals are built.

Emadi said the money for the World Cup projects had been protected from cuts to the national budget caused by low oil and gas prices.

While hosting a FIFA World Cup often means building a batch of new, state-of-the-art stadiums, Qatar's preparations go far beyond that.

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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.

Brazil struggled to get a lot of its stadiums prepared, however, Mr Emadi instructed reporters in Doha on Tuesday that Qatar had already awarded 90% of the contracts for 2022 tasks and that two-thirds could be delivered throughout the subsequent 24 months. The extreme temperatures, high costs and workers conditions have made Qatar one of the most controversial World Cup host nations.

The pressure on the state finances is now easing because of higher oil prices, and Emadi said Qatar might not need to issue worldwide bonds this year.

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