More than S/9 billion could be spent in Qatar during the 2022 World Cup

From two weeks of November, around of S/9 billion CTS will be issuedto this is added the money the worker will receive as a bonus and the AFP if they choose to withdraw it.

The release of this money will coincide with the completion World Cup 2022 in Qataran opportunity for companies, especially those involved in services, manufacturing and food, said Oscar Chavez, head of the Institute for Economics and Business Development (IEDEP) Lima Chamber of Commerce.

Although sales forecasts were lowered when Peru was not included in the list of participants in the World Cup, this sporting event will have a positive impact on consumption during the last two months of this year.

“Our growth forecast is 3.1% this year. and we know that we have exceeded the expectations of others (experts). We think that in the last two months of the year there will be a consolidation of the economy and the forecasts will come true,” he said.

However, growth will be driven by consumer confidence. This means that, given the political and economic situation, the citizen will decide whether to spend his money or save it; For this reason, it is difficult to predict how much the economy will grow this season, because if we qualify, the expert expected a half-percentage increase in GDP.

Opportunities for small and medium businesses

world Cup there will be an opportunity for companies engaged in trade, as there will be a lot of demand for TVs, tablets and mobile phones to watch matches in the best quality. This is followed by production, focusing on the textile area, as fans will be looking for the jerseys of their favorite team, the third will be the food category.

“The World Championship will be held from November 20 to December 18.match schedules start at 5 am and end at 2 pm, just in time for snacks and lunch, so food, beverage and restaurant production will benefit,” said Oscar Chavez.

Beware of over-indebtedness

During the hype at the World Cup, companies should use temporary demand to increase sales; Nonetheless, consumer should be careful with over-indebtedness and prioritize spendingespecially since interest rates have risen.

“Many of the resources that go into circulation are the result of private sector savings, what is being done is to withdraw private savings. People should be aware that these savings need to be preserved, and not directed entirely to consumption,” he said.