Olympics 2040 : Saudi Arabia and Egypt in the race to host the Games?
The Economic Rise Of Riyadh : The Olympics as a catalyst for urban growth ?
The evolution of Saudi Arabia's economy supports the Minister's ambitions. According to Statista, between 1989 and 2029, Saudi Arabia’s average GDP per capita is expected to increasefivefold, rising from $7,287 in 1989 to a projected $38,672 by 2029. This impressive growth positions the kingdom to compete with European nations alsovying for upcoming Olympic Games. In comparison, Germany, seen as a front runner for the 2040 edition, experienced slightly slower economic progress during thesame period, with GDP per capita nearly quadrupling from $16,232 in 1989 to aforecasted $63,551 in 2029.
However, despite this remarkable growth, organizing the Olympic Games in Riyadh could come at a steep price. Paris spent over €11 billion on the 2024 Games, and Tokyo around €12 billion on the 2020 edition. Nonetheless, such an investment might be justified by the potential rewards. Past Olympics have often acted as catalysts for sustainable urban transformation. For example, the 2016 Rio Games not only generated significant revenue but also led to major infrastructure upgrades, such as new subway lines and modernized schools. These kinds of projects would address Saudi Arabia’s growing needs. With a landmass of 2.15 million square kilometers, the country requires efficient transportation systems to link its diverse regions. Current projects, such as the Riyadh Metro, could receive a significant boost from hosting the Olympics, much like what was seen in Rio.
SissiCity and Beyond : Cairo’s strategy to host the 2040 olympics and assert African leadership
While Riyadh is laying the groundwork for its upcoming major events, Cairo is also positioning itself as a strong contender for the 2040 Olympics. Mustapha Berraf, president of the Association of National Olympic Committees of Africa, has emphasized Africa’s desire to play a central role on the global sports stage. Egypt, with considerable experience in hosting major sporting events, has proven its ability to manage robust infrastructure and efficient logistics. A key element of its Olympic bid is the development of "Sissi City," a new urban project near Cairo equipped with modern infrastructure, including an 80,000-seat stadium and multiple world-class sports complexes.
Hosting the Olympics could also revitalize Egypt’s economy. Although GDP growth slowed to 3.8% in 2022/2023, the outlook remains positive, especially with a recent $35 billion deal with the UAE to develop the Ras El Hekma region. Egypt hopes that the Games will rejuvenate its economy, following Brazil’s post-Rio 2016 model, which benefited from significant infrastructure investments. With projected growth of 4.5% by 2024/2025, the Olympics could not only elevate Egypt’s international profile but also drive sustainable economic growth. Armed with its ambitions and supported by major infrastructure projects, Egypt is well-positioned to compete with, or perhaps succeed Saudi Arabia in, making a lasting mark in Olympic history.
Sources :
https://sportetsociete.org/2022/12/18/jo-2036-larabie-saoudite-plus-ambitieuse-que-jamais/
https://www.statista.com/statistics/261742/tourist-arrivals-in-middle-east-countries/
https://fr.countryeconomy.com/gouvernement/pib/bresil
https://www.youtube.com/watch?v=-zfzzSHav8w
https://www.statista.com/statistics/268069/gross-domestic-product-per-capita-of-saudi-arabia/
