Qatar is making history as the first country in the Middle East to host one of the biggest sporting events. A World Cup is not just about pride, publicity and demonstrating infrastructural capabilities, as Doha is showing the world. It also is an opportunity to leave a mark on the global business map.
An event of this magnitude is sure to boost businesses across the region, especially in the UAE, because of its proximity to Qatar. Now, the increased surge of those travelling for the World Cup can be immensely beneficial for demand in gold. Even if a small percentage of these football fans buy gold or jewellery, those numbers will still prove to be a net plus.
We had explored the popularity of football with a summer promotion this year, wherein we offered a specially designed golden football and golden boot. And this proved to be popular with shoppers; and not just that we received orders from organisations for the same to be given away to their employees and business associates.
The other reason we are very positive of the World Cup’s impact on gold is because this period coincides with the marriage season. Among the nationalities traveling to the mega event will be those from India and other Asian countries, who have always been keen on gold. We are sure shopping for gold will be a priority for them along with watching the matches.