According to a report by the world football governing body, Saudi Arabia is expected to host a FIFA World Cup in 2034 that will surpass revenue trends while saving millions in expenses.
The bid evaluation document revealed that the ticket and hospitality revenue will exceed baseline estimates by 32%, or USD 240 million.
FIFA used data from past World Cups to estimate organising costs, adjusting for inflation, local economic conditions, the expanded 104-match format, and the idea of a 14-stadium.
FIFA emphasised Saudi Arabia’s competitive pricing, excluding costs like prize money and team participation fees. Important cost areas like technical services and security are predicted to be USD 133 million and USD 58.9 million below baseline, respectively.
In contrast, Qatar paid an estimated USD 220 billion to host the most costly World Cup in history in 2022.
The majority of that money was spent on roads, stadiums, and public transportation.
Saudi Arabia’s efforts to diversify its economy and lessen its reliance on crude oil have been in line with hosting major athletic events like the FIFA World Cup.
Analysts interviewed by Arab News in November estimated that Saudi Arabia could see an increase in GDP ranging from USD 9 billion to USD 14 billion as a result of the event. They also projected the creation of between 1 million and 5 million new jobs, along with the addition of 230,000 hotel rooms across five host venues.
According to the bid report, Saudi Arabia’s major cost drivers are USD 378.4 million for crew management, USD 273.8 million for television operations, USD 124 million for transportation, USD 111.1 million for team services, and USD 99.5 million for IT and telecommunications.
“Virtually all cost drivers are currently forecast as being below the baseline, with some cost items, such as staffing costs, event transport, team accommodation, and competition management generally expected to remain in line with baseline levels,” FIFA noted.