Standard & Poor's credit rating agency said the World Cup in Qatar will give an additional boost to the Gulf economies in the near term.
And the agency said in a report, today, Wednesday, that the Gulf economies, which are achieving high revenues as a result of high oil prices, are preparing to achieve more gains from the World Cup soccer tournament this month.
Expectations indicate that more than 1.2 million people will attend the event, which will double the population of Qatar; This paves the way for them to achieve economic gains in the short term, according to the report.
The report revealed that this also highlights the logistical challenges of managing the event, which is likely to have positive indirect effects on the rest of the region.
The report also expected that economic activity in Qatar would slow after the tournament, and the excess supply in the hospitality and real estate sectors might lead to a decline in the performance of these two sectors to some extent, while this would not significantly affect the quality of the banking sector's assets.
Gulf economies are recovering in the current period from the high oil and gas prices, and the improvement in global demand for fuel.
This is the first time a country in the Middle East and the Arab world will host the most famous and largest tournament in the world of football.
The tournament will start on November 20, and Qatar expects to receive 1.2 million visitors within 29 days, and has pledged to present the best World Cup in the history of the World Cup.
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