The latest edition of the FIFA World Cup, arguably the most popular sporting event in the world, is currently being played in Qatar - a tiny Islamic monarchy in Middle East Asia. With a population of 2.9 million, Qatar is hosting approximately 2 million guests, denying them freedom of alcohol, narcotics and sex, considered three major components of FIFA events, besides football. Moreover, the schedule of FIFA World Cup was changed for the first time to November-December from the usual June-July; apparently to suit the weather conditions in Qatar, which is unusually hot during summer months.
It is intriguing for most why Qatar was chosen to host this event. Initially there were allegations of bribery and use of unfair means by Qatar authorities; but these were found baseless after a two year long investigation. However, if we consider the trend, the selection of Qatar to host the event might not look inexplicable after all. The three preceding editions of the FIFA World cup were held in South Africa (2010), Brazil (2014) and Russia (2018) – all emerging economies. The 2026 edition is scheduled to be hosted jointly by the US, Canada and Mexico. For the 2030 edition, most bids are jointly given by two or more countries involving at least one emerging economy, e.g., Uruguay-Argentina-Paraguay-Chile; Spain-Portugal-Ukraine; Saudi Arab-Egypt-Greece, etc.
Notably, the preceding three editions of the FIFA World Cup were hosted by the members of BRICS block. It is expected that the other two members (India and China) may also get to host the prestigious event in the next decade. Also, the number of participating countries has been increased to 48, to include more small countries.
Byju’s, the Indian Edtech company is one of the co-sponsors of FIFA World Cup 2022. Also, Lionel Messi, currently one of the most popular football players in the world, is also global brand ambassador for one of the initiatives of Byju’s. Notwithstanding the fact that India is not amongst the 48 teams participating in the event; it is estimated that more than 30000 football fans from India will be attending the event. Besides, many of the 75000 Indians staying in Qatar would also be attending matches there.
Obviously, FIFA has sensed where the economic balance of the global economy is tilting. It probably has the best sense of the purchasing power of people. It is moving to the places where demographics is improving in terms of younger soccer fans with better purchasing power; and moving away from the places where population is growing older and rising income and wealth inequalities are shrinking the target audience base for the game. FIFA also seems to prefer venues with easier VISA rules and comparatively decisive (authoritative) governments that can make commitments faster.
Of course, FIFA’s sense of global economy could be challenged; but there are multiple other signs suggesting that the balance of global economy is moving away from the nations that have dominated the global economy in the past centuries that saw colonization, industrial revolution and world wars moving the balance westward.
So, when Reliance group chairman Mukesh Ambani claims that the Indian economy will grow to $40trn by 2047, he may be mostly correct about the future trend; even if the number is an enthusiastic exaggeration.
