Qatar 2022 spending $500 million weekly

Posted February 11, 2017

More than $200bn (£160bn) will be spent in total by the gas-rich emirate. The 2014 World Cup in Brazil is reported to have price $11bn (£eight.8bn) to host, whereas Russian Federation elevated authorities spending on the 2018 World Cup by $321m to $10.7bn.

While the global fluctuation of energy prices has effected Qatar recently, the country with the world's third-largest collection of natural gas and oil reserves is spending lavishly to overhaul its entire infrastructure for the event.

Qatar Finance Minister Ali Sharif El-Emadi has revealed the country is spending about $500 million a week on infrastructure for hosting the 2022 FIFA World Cup. Asked if Qatar would consider financing its deficit by selling debt on worldwide bond markets this year, he said no final decision had yet been taken by the government. The spending includes new stadiums, which will be used for the 2022 World Cup. Other countries who have hosted to the event have found themselves in massive debt following the event. Brazil renovated some stadiums and built some new ones for the tournament.

On the footballing side of things, Qatar's hopes of qualifying for the 2018 World Cup in Russian Federation are bleak.

Of the projects planned, the contracts for 90 percent of them have been awarded, he added.

Brazil's Maracaña stadium got a face-lift before the 2014 World Cup and 2016 Olympics.

Qatar's government has denied the workers are exploited and in December it implemented reforms created to improve the rights of the migrant workers. Qatar, which will be the smallest country to host the World Cup, began working on venues months ago. For that tournament, 48 teams will compete in the group stage and 32 will advance.