In 2034, Saudi Arabia will host the FIFA World Cup, marking the first time the 48-team format is held in a single country. This historic event, featuring five host cities and over 15 state-of-the-art stadiums, isn’t just about football. It’s a key part of the Kingdom’s Vision 2030 initiative, aimed at diversifying the economy, reducing reliance on oil, and positioning the country as a hub for business, tourism, and culture.

It's also a chance for the Kingdom to redefine global perceptions, opening its doors to millions of visitors and to further diversify across industries like tourism, technology, and real estate.

The economic potential of FIFA 2034

In preparation for the event, Saudi plans to inject $26 billion into infrastructure projects, including airports, transportation networks, and urban developments, to prepare for the influx of an estimated 5–6 million international visitors. This isn’t only for the tournament but is also part of a broader strategy to position the Kingdom as a premier global destination for tourism and investment encouraging business set up. 

Drawing lessons from Qatar’s 2022 World Cup, which contributed $2.3–4.1 billion to its GDP, Saudi aims to surpass these figures. With current projections indicating a $9–14 billion boost to GDP and the creation of approximately 1.5 million jobs. These will span multiple sectors, from real estate and tourism to technology and retail.

Opportunities for businesses

Companies that were on the fence about setting up a business in KSA will now be pressing ahead with KSA market entry. With the influx of visitors and residents - there will be ample opportunities for businesses across all industries. 

Construction and urban planning

The need for large-scale infrastructure to accommodate FIFA 2034 is unprecedented. With 15 state-of-the-art stadiums and a range of support facilities in the works—such as fan zones, residential housing, and improved public spaces—businesses in construction, architecture, and urban planning are poised to benefit. Companies specialising in smart cities, sustainable construction materials, and large-scale project management will find demand for their expertise.

Renewable energy

Sustainability will play a central role. Saudi Arabia’s target of generating 50% of its energy from renewable sources by 2030 dovetails with the event’s preparations. Solar farms, energy-efficient cooling systems, and smart grids will be integral to meeting these goals, creating opportunities for providers of green technologies and innovative energy solutions.

Logistics and transportation

Handling millions of visitors means seamless transportation is a must. The Kingdom is investing in high-speed rail networks, expanded airports, and integrated transport systems. Businesses offering advanced supply chain management, passenger transit solutions, and mobility technologies will be crucial in ensuring the event runs smoothly.

Hospitality and F&B

With over five million visitors expected, the hospitality sector will see explosive growth. Plans include building more than 50 new hotels, luxury resorts, and dining establishments. The ripple effect will benefit hotel developers, catering providers, and businesses in luxury tourism services.

Cultural and creative industries

FIFA 2034 will shine a spotlight on Saudi Arabia’s culture and heritage. New museums, cultural festivals, and entertainment venues will need content creation, event management, and tourism expertise. This means potential opportunities for media production companies and tourism operators.

Technology and digital innovation

Technology will underpin every aspect of the event. From AI-driven crowd management in stadiums to digital ticketing and cybersecurity measures. This presents opportunities for companies that can provide cutting-edge tech solutions. Businesses in IoT, software development, and data analytics have a chance to lead.

Retail and consumer goods

The retail sector will enjoy a boom, driven by demand for official FIFA merchandise, sports apparel, and souvenirs. Companies focusing on e-commerce platforms, branded goods, and supply chain logistics can capture significant market share if they position themselves strategically. Those able to form partnerships with local suppliers and streamline their distribution networks will be best placed to succeed.

Clear potential

FIFA 2034 offers businesses an opportunity to contribute to Saudi Arabia’s development plans and engage with a fast growing and high-profile market. Companies with relevant expertise that can find practical ways to support the tournament’s needs will be best placed to benefit from the region’s ongoing economic growth.

How can Sovereign PPG help?

Sovereign PPG has extensive knowledge of the Saudi market and strong connections with key authorities and stakeholders. We can streamline the process of establishing your business presence in the Kingdom, managing everything from licensing and market entry to regulatory compliance.

If you need assistance with setting up a company in Saudi Arabia, aligning with Vision 2030 initiatives, or exploring opportunities related to FIFA 2034, get in touch with us on +971 (0)4 456 1761 for Dubai or +971 (0)2 448 5120 for Abu Dhabi. You can also email us at KSA@SovereignGroup.com or complete the contact form below, and we’ll be delighted to assist you.