Congratulation to Qatar on their win in hosting the 2022 World Cup! What does this mean? Middle Eastern inspired Vuvuzelas? Possibly. With regards to development, this could mean a rise in migration from South and East Asia and North Africa to get Qatar ready for 2022. Qatar currently employs 1.5 million migrant workers, a number likely to increase with Qatar’s new World Cup plans. Inevitably, the rise in migration with cause a rise in remittances.
Qatar Central Bank reported nearly $7 billion in remittances from Qatar in 2010. With construction of stadiums and infrastructural development, migration to Qatar is said to increase dramatically. According to Dilip Ratha’s at the World Bank:
“Outward Remittances will rise more than proportionately, first because wages will rise, and second, because the authorities will provide greater scrutiny to recruitment practices and working conditions for migrant workers.”
These are not the only methods to increase remittance flows. In late August, Qatar started offering free online international remittance transactions. The new Mashreq online banking system will allow clients to transfer funds anywhere in the world for free.
This is all great news for Qatar and its migrants. Infrastructural development, higher wages, increased remittance flows, and the first time a country in the Middle East to host a sporting event.