(MENAFN- The Peninsula) The Peninsula
The Qatar Financial Centre (QFC) and Aspire Zone Foundation engaged with high-profile global leaders in the sports industry during the Sport Business Summit at the Leaders New York event.
During the three-day event, the QFC, Aspire Zone Foundation, and Qatar Development Bank jointly hosted a masterclass sponsored by the Sport Accelerator Qatar Sport Business District, entitled ‘Tap into a $20bn Future Sports Market in Qatar'. The workshop aims to highlight the wide-ranging opportunities for investment in Qatar's growing sports industry, which is expected to be valued at $20bn by 2023.
Furthermore, the masterclass showcased both the investment opportunities available in the various sectors of Qatar's sports market, in addition to the platforms accessible to businesses looking to tap into this robust industry through the new pioneering sports business hub, the Sport Accelerator Qatar Sport Business District, whose strategic partners include Aspire Zone Foundation, the QFC, QDB and the Ministry of Commerce and Industry, as well as the Supreme Committee for Delivery and Legacy.
The Sport Accelerator offers a comprehensive ecosystem for businesses looking to access the Qatari sports market by working with its network partners to provide best-in-class services including business incorporation, a transparent legal and regulatory framework, as well as access to experienced sports business experts.
Jassim Al-Muftah, Director, Marketing & Corporate Communications, QFC said: 'Qatar's sports industry remains multi-faceted and offers investors ample opportunities in various subsectors ranging from sports marketing to event management and promotion, as well as many others. These diverse opportunities can be fully utilised and accessed through the QFC's unique onshore business platform.
Laila Al-Jefairi, Manager, Business Development, QFC said: 'Sport is one of the key focus industries of the QFC as outlined in our strategy, along with other important sectors. Our strategic focus on sport is a result of Qatar's established track record as a global sports hub, as well as the great potential for even more future growth that the industry is yet to achieve.
The Summit welcomed over 1,000 speakers and attendees from over 50 countries around the world, including global directors of FC Barcelona, CBS Sports as well as many others.
The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.
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