Event Management Workshop Handbook PDF

Event Management Workshop
Business Plans
Strategic Partners Official Partners Supporter
P.1
The aim of the document is to give investors and entrepreneurs a
high-level overview of the opportunity and key considerations they
should take into account while entering a similar business. This
document has been prepared for marketing purposes only.
All analysis and conclusions in this report are based on various

assumptions that are subject to uncertainty. Future results or
values could be materially different from any forecast or estimates
contained in this document. Investors and entrepreneurs should
independently evaluate the opportunity for their business case.
No representation or warranty, express or implied, is made as to

accuracy or completeness of underlying assumptions, estimates,
analyses or other information contained in this report, and nothing
contained herein is or shall be relied upon as a promise or
representation as to past, the present or the future.
Economic Policies and Research Department

For more information, please contact to: qsbc@mec.gov.qa
P.2
TABLE
OF
CONTENTS
Temporary Staffing and Training 6
Sound and Stage Production 14
Temporary Grandstands and Platforms 22
Corporate Hospitality 30
Crew-wear & Uniforms 37
Ticketing 44
Television Production 51
External Screens, Signage and Wayfinding 59
Event Organisation & Planning 67
Concessions 75
Sports Management, Timing and Scoring 83
Temporary Toilets 91
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P.4
We have the pleasure to share with you 1 Sports business industry
several opportunities to invest in sports • International sporting centre:
businesses in Qatar. These opportunities will 2006 Asian Games, 2019 IAAF
World Championships, 2022
help you play a key role in the development
FIFA World CupTM
of one of the fastest growing economies in
the GCC.
Sports and sports related industries have
been a key focus of Qatar’s economy and we 2 2
Economic stability
invite you to participate in these long-term • Investments in petrochemical,

manufacturing, industrial,
opportunities. The nation is making its mark
financial and real estate sectors
in the international sporting arena and aims contributes to fast growing GDP
to become a leading sports business hub in • Highest GDP per capita in the
the near future. world
Overall, Qatar’s key differentiating factors

are: 3 Energy & Infrastructure
• Leading player in the global
- Fast growing economy energy market
- Focus on the sports industry • Tremendous investment in
- Highly developed infrastructure world class infrastructure
- Supportive regulatory environment
- Gateway to the GCC and wider MENA
region
4
- Support across all the phases of the 4 4
Knowledge Economy
business cycle: Pre-operation, start-up, • Qatar invests heavily on

innovative knowledge-based
growth and maturity projects: Education City and
- Preferential treatment by government Qatar Science & Technology Park
entities to Qatar based companies • Attractive to innovative
corporations and entrepreneurs
We hope that you will find these business
cases helpful in your initial assessment of 5
setting up a sports business in Qatar.
Ministry of Economy & Ministry of Youth & Supreme Committee for Qatar Olympic Aspire Zone
Commerce Sports Delivery & Legacy Committee Foundation
Sport Business Opportunities Forum • Flagship Business Cases October 2015
P.5
SPORT BUSINESS
OPPORTUNITIES FORUM
Temporary Staffing
and Training
P.6
Introduction
Qatar’s strong pipeline of local and international sports events generates lucrative
opportunities for the provision of temporary staffing and training services
The sports industry is complex in nature and covers a wide range of Exhibit 1: Areas for
interlinked and interdependent activities. Seven areas of opportunity have sports opportunities
been identified to analyse the sports market, as outlined in Exhibit 1 and
detailed below: SPORTS
• Event management & promotion: refers to the entire process of
staging an event from the bidding phase to event delivery and post- Venue operations &
event services maintenance
• Sports development: focuses on the engagement of people with sports,
particularly at a young age, both from an elite (professional) sports as Sports development
well as from an amateur sports perspective, eventually leading to the
participation in top level competitions Venue construction
• Venue construction: comprises of the necessary steps that need to be
taken for the construction of venues and training facilities including Sports goods &
planning, design development and construction equipment
• Sports goods & equipment: refers to the entire process required to Sports commercialisation
design, produce, distribute and sell sports goods & equipment
• Sports commercialisation: refers to the activities that aim to monetise Sports tourism
the commercial rights of an event (e.g. broadcasting, sponsoring,
ticketing) and bring revenues to the rights holder Event management &
• Sports tourism: revolves around the necessary steps taken to influence promotion
traveling to participate in or observe sports or other entertainment
events
Temporary staffing and
• Venue operations & maintenance: comprises of the activities necessary training
to operate and maintain stadiums and venues
Opportunities in event management and promotion

One opportunity for potential investors in Qatar is the provision of temporary staffing and training services.
This opportunity falls the ‘event management and promotion’ area of opportunity, classified as follows:
Marketing Legacy
Bidding Organisation Event delivery
& sales & re-use
Bidding refers to Organisation of an Proper promotion, This activity After the event is
activities such as event is marketing and includes the successfully
concept generation, accompanied by sales can ensure operations to completed, tangible
servicing of a bid, entrepreneurial maximum actually stage an assets should be
preparation of risk with regards to attendance to an event. Depending reused and
bidding documents planning and event. Event on the type of knowledge gained
and event planning. financing. tickets can be event being held, during event
Typically, if the bundled with specific technical planning,
event is hospitality or skills and tangible preparation and
sanctioned, then travel deals to equipment and delivery should be
there is a need to encourage more temporary made use of for
purchase hosting potential infrastructure are future events
rights. customers. required.
P.7
Introduction
Opportunity overview
Despite the increasing use of technology at venues and events, there
continues to be a great demand for event staff across a number of
functions (e.g. security, cleaning, catering, stewarding, operational “Event organisers
support, box office and access control). rely on hiring
While some high-profile events organisers have developed a strong track temporary staff to
record in terms of successful recruitment of volunteers, many event
organisers (or event sub-contractors) rely on hired temporary staff to
address peak
address peak demand. demand”
This opportunity entails the supply of temporary manpower resources
including stage crew, technical and production staff, hostesses, security
personnel, operational support, parking support and registration staff for
event management companies. The opportunity also covers the provision
of training services to volunteers and support staff, in order to equip them
with the necessary skills required to fulfil their roles at the events.
Opportunities exist for local SMEs to provide temporary staff

for local and international events held in Qatar
Qatar's economy is set to experience strong economic and employment
growth in the medium term, with GDP forecasted to increase by 5.8% per “Increasing public
annum on average, over the period of 2015-2019. This presents a wealth of
opportunities for temporary staffing and training services in a number of
investment by
fields and sectors. entities such as
Qatar’s temporary staffing market growth is supported by a large number QOC, Aspire, MCS,
of international sports events which are planned to be held in Qatar in the SC and rising
coming years, such as the 2022 FIFA World Cup™ and the IAAF World corporate
Championship in 2019. Additionally, recurring annual premier confidence drive
international, regional and local events such as the IAAF Diamond
League, Qatar ExxonMobil Open, the Emir Cup and Stars League ensure a demand for
continued and growing need for temporary staffing year round. outsourced
Additional demand is generated from non-sports related events such as employment
MICE, concerts and corporate hospitality which require temporary services”
workers to meet their seasonal staffing requirements.
At present, the industry for temporary staffing agencies in Qatar is
evolving and will require both existing companies and new players to play
a role in addressing growing market demands.
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Market overview (1/2)
Qatar market
The total market for temporary staffing and training
Exhibit 2: Qatar market size for sports related
in Qatar is QAR 69 million in 2016 and is expected to opportunities (QAR millions)
grow at a CAGR of 10% to reach QAR 167 million in
2025. The supply of temporary staffing to sports
events will reach a peak of QAR 62 million in 2022, +7%
62
growing at CAGR of ~7%, primarily driven by the
FIFA World Cup™. 38 41 43
36
32
Market drivers 23 24
19 21
The primary factors driving the demand in Qatar are:
• Event pipeline: The premium international
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
events to be hosted in Qatar (e.g. UCI Cycling
World Championship 2016, IAAF World
Championships 2019 and the 2022 FIFA World
Cup™) boost demand for temporary staffing Exhibit 3: Qatar market size for non-sports
related opportunities (QAR millions)
• Growing manufacturing sector: Manufacturing
companies represent an important source of 124
future industry demand, particularly for low- +12% 111
99
end jobs such as packing 81
78
• Emerging need to train volunteers for event 57 63 57 62
46
delivery: Event management companies seek
trained individuals in order to deliver the
highest levels of customer service
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Economic growth: Improving macroeconomic
conditions, such as low unemployment, high
public investment (QOC, Aspire, MCS, SC) and
rising corporate confidence drive demand for
Exhibit 4: Qatar’s labour force breakdown by
outsourced employment services sector in 2014
Temporary staffing and training providers in 7.5% Manufacturing
Qatar
7.6% Mining & quarrying
To ensure successful temporary hiring of
12.6% Wholesale & retail
employees, temporary staffing agencies often train
their staff and equip them with specialized skills. 13.5% Other
Agencies in Qatar (such as REED or Showforce)
tend to specialise in particular areas of work such 14.6% Trade & consumer services
as medical and nursing staff, computer personnel,
events staff, executive and office staff, engineering 15.2%
Industrial
(excl. construction)
and the technical trades. These companies sign
contracts with their customers based either on a
project-by-project basis or through secondments 28.9% Construction
(e.g receptionist).
Source: World bank, BMI

P.9
Other GCC market

The GCC market for temporary staffing is Exhibit 5: Other GCC market size (QAR millions)
estimated to be around QAR 937 million in 2016
and is expected to increase to approximately
2,167
QAR 2,167 million in 2025, growing at a CAGR 1,977
of 10%, including inflation. KSA and UAE are +10% 1,804
1,645
the largest markets in GCC. 1,500
1,369
The temporary staffing and training market in 1,140
1,249
1,039
KSA is expected to reach ~QAR 456 million in 937
2016, comprising ~52% of the total GCC market.
In KSA, companies use temporary staffing for
three primary reasons: short-term staffing,
convenience and the current lack of visas and
long-lead times which result in delays of hiring 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
full-time employees. Includes both sports and non-sports related markets
The UAE is the second biggest market in the

GCC with a forecasted size of ~QAR 241 million
in 2016. Companies in the UAE seeking to avoid “GCC market size of QAR 937
the high cost of recruiting international talent million in 2016 and a high CAGR
are becoming increasingly open to the idea of of 10% provides additional
hiring locally available professionals on a
temporary basis. The demand for temporary opportunities for Qatari
manpower is mainly prevalent in multinational companies”
companies, local conglomerates and semi-
government organisations in the country. Roles
related to business process support, banking, Exhibit 6: Global staffing market per country
delivery/ production of events are the easiest to breakdown in 2013
staff. Opportunities for temporary staffing also Total value QAR 1,515 billion
exist in sales, business support and IT. Japan
Global market 14.0%
The global staffing market in 2013 was worth an USA

30.0%
estimated QAR 1,515 billion in revenue, with the UK
9.0%
USA, Japan and UK comprising approximately
53% of the market.
The three largest staffing companies in the 7.0% France
world, Adecco, Randstad and Manpower, hold a
combined market share of approximately 17%. 6.0%
Germany
20.0% 5.0%
3.0%
4.0% Australia
Others 2.0%
Netherlands
Brazil Canada
Source: Temporary Staffing Association
P.10
Industry overview: GCC and Qatar
There is an opportunity for Qatari companies to provide premium, differentiated services
in Qatar and the GCC
Supplier power
• Recruitment companies generally follow the industry standard for the
pricing of low-skilled manpower with limited bargaining power
• Recruitment agencies that have access to employees with specialized skills
and language capabilities tend to have medium bargaining power
Threat of Barriers to entry

substitutes Industry rivalry
• Industry operators
• Companies could • Most of the international
supply businesses with
focus more on recruitment companies such as
workers on a temporary
providing stable and Manpower, have vertically
basis and are primarily
“permanent” jobs, integrated into supplying
involved in the screening
thus undercutting temporary staff in some of GCC
process of candidates.
the need for countries
Accordingly, there is
temporary staffing • There are a large number of little Capex requirement
and training SMEs playing in this market, in the industry outside of
providers which cater to different market basic administrative
segments such as construction, equipment
manufacturing and hospitality
• A license to operate as a
temporary staffing
agency is required and
issued by the Ministry of
Labour and Social Affairs
and Housing
Buyer power Impact of complementary products

• Industrial companies, event managers and • Rising demand from the professional event
venue operators represent the main buyers of management services sectors is a key driver
this service. Their bargaining power depends of industry growth. Demand for
on the skillset requirement and the number of professionals in this industry is expected to
temporary workers needed rapidly expand to meet the growing local
• Demand from businesses within and regional events pipeline
manufacturing, transportation and logistics, • Growing industry sectors such as facilities
events and hospitality industries constitute the management, home care and hospitality also
largest market for temporary staffing services generate additional demand
P.11
Financial plan (1/2)
Investment
Exhibit 7: NPV for 2016 to 2025 (QAR million)
To capture the whole opportunity, an investor
29
must be capable of investing ~QAR 17 million.
Such an investment has a NPV of ~QAR 29
million for the next ten years (2016 to 2025). 15
The expected IRR for this opportunity is 21%.
8
Local businesses with limited financial
capability and risk appetite may capture part of
the opportunity by investing less than the 5 9 17
maximum required investment as detailed in Investment1
the scenarios below: 1 Investment = Start-up CapEx + (DSO/365)* operating costs for first year
1. An investment of QAR 9 million would Exhibit 8: Investment breakdown based on

benchmarks (Illustrative)
generate a NPV of ~QAR 15 million
CapEx • Administrative
2. An investment of QAR 5 million would Pre-operating expense 7%
equipment
• Vehicles
generate a NPV of ~QAR 8 million • Furniture
• Wages paid to • IT software
temporary staff • Accommodation
and permanent
employees 83%
• Office lease
• Marketing
• Insurance
premium
Exhibit 9: Revenue (QAR million)
Revenue Other GCC

Qatar
If one company were to capture the full
temporary staffing and training opportunity in +11% 80
88
Qatar and the GCC, its revenues would increase 66

73
from ~QAR 34 million in 2016 to ~QAR 88 55

60
50
million in 2025. However, investors with a 37 41
34 82
lower financial capability to invest or lower risk 55 61 67 74
45 50
appetite would still experience significant
revenue growth (refer to Exhibit 10).
The opportunity is expected to expand to the 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
rest of the GCC region in 2019. This market is Exhibit 10: Annual revenue vs. Start-up investment
expected to account for ~9% of total company (QAR million)
turnover in the first year.
Investment (QAR million)
The cost structure of firms in the temporary Years
5 9 17
staffing and training industry vary based on
company size, client base and the services 2016 8 17 34
provided. Larger firms generally have access to 2022 16 33 66

high-value clients and tend to have more
2025 21 44 88
bargaining power than smaller agencies.
Total
139 292 585
(2016 – 2025)
P.12
Operating costs Exhibit 11: Operating costs
Typically, 85% of the total cost for a temporary COGS Marketing

1%
staffing and training agency is cost of goods SG&A Staff
sold, the largest component of which is cost of 11% Office lease

Other SG&A
labour. 1%
2%
Wages paid to temporary staff and workers are
charged directly to customers along with
charges for other payroll and benefit costs on
an hourly, daily or other contractual basis.
Costs of goods sold
Salaries paid to full time staff working at the Temporary staff cost
agency constitute around 11% of the total represents the majority
of COGS followed by
operating cost. Costs such as marketing and 85%
purchases
office lease each constitute around 1% of the Cost of good sold
total operating cost.
Exhibit 12: CapEx and Opex intensity
Other expenses include visa costs, insurance
premiums, logistics, accommodation and food CapEx intensity: Low
expenses.
• CapEx is focused on basic administrative equipment
such as computers, phones and software used in the
hiring process
OpEx intensity: High
• High OpEx intensity is driven by wages paid to both

temporary staff and permanent employees
Earnings before Interest, Taxes,

Exhibit 13: Projected EBITDA in 2016 to 2025
Depreciation, and Amortization
(QAR millions)*
(EBITDA)
EBITDA is projected to reach QAR 5 million in EBITDA% EBITDA
2025, with an EBITDA margin of ~6%. This is 5
5
based on the cost structure and revenue 5
3 4 4 7
3
analysis for this opportunity. 2 6
1 1 2
5
0
4
3
-5 Due to initial start-
up investment 2
1
-8
-10 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
* For full opportunity, assuming 100% investment of investment
P.13
SPORT BUSINESS
OPPORTUNITIES FORUM
Sound and Stage Production
P.14
Introduction
Sound and stage production presents a profitable opportunity for Qatar-based companies
wishing to provide services for sports venues
staging an event from the bidding phase to event delivery and post-
Venue operations &
event services
maintenance
events
• Venue operations & maintenance: comprises of the activities necessary Sound and stage production
Opportunities in event management & promotion

One opportunity for potential investors in Qatar is the provision of sound and stage equipment and services
in sports venues. This also includes lighting, audio-visuals, stage platforms and structural equipment. This
opportunity falls under the ‘event management & promotion’ area, and operates specifically within ‘event
delivery’. These opportunities can be classified into five parts, as follows:
Marketing Legacy
& Sales & re-use
and event planning financing. tickets can be event being held, during event
purchase hosting potential infrastructure may future events to
rights customers be needed for ensure maximum
Sport Business Opportunities Forum • Flagship Business Cases
successful delivery knowledge October 2015
transfer 3
P.15
Introduction
A business opportunity exists for Qatar-based companies to rent light, “The global sound
sound and stage equipment in Qatar to sports and non-sports related and stage
events and venues. Equipment rental companies get the illumination
arrangements, stage platforms and audio-visual systems from specific production market
global and local manufacturing companies and rent them to event is expected to
management companies, enabling a professional delivery of the event reach ~QAR7
content. This also includes supply of equipment for entertainment
billion by 2019,
events such as concerts, weddings, fashion shows, etc.
growing at a
CAGR of ~2%
Capability and capacity constraints in the Qatari market
create an opportunity for SMEs between 2014 and
With a busy upcoming international sports events calendar, Qatar is 2019”
investing in new sports venues to meet international requirements. In
order to satisfy the audience needs, event production services in GCC
and Qatar take the lead in renting stage and sound equipment. The
provision of such equipment and services present a strong opportunity
to sound and stage rental companies.
Currently, the sound and stage equipment rental industry exists in “Renting large
Qatar but is still developing. The provision of high quality stage, high-tech audio
lighting and audio arrangements leaves a lasting positive impression systems,
on spectators. Major opportunities exist for sound and stage
equipment rental firms providing their services to event management floodlighting
companies such as Q-Vision productions and event organisers. These solutions and stage
firms collaborate with government entities such as Ministry of Culture arrangements are
and Sports (MCS), Qatar Olympic Committee (QOC), Aspire Zone and
the Supreme Committee for Delivery and Legacy (SC) as well as other
at the basis of
corporate entities such as Qatar Investment Authority (QIA), Qatar increasing the
Petroleum (QP) and others who invest heavily in events. number of
attendees in sports
In order to capture the opportunity, new or existing local rental venues”
companies could collaborate with global international sound, light and
stage production companies to meet the growing demand in sports
events. At present, only a limited number of key players exist in the
Qatari market. Equipment rental companies play a key role in helping
sports and non-sports venues make a lasting impression on all
shareholders through the renting of various equipment from public
address (PA) and sound systems, to dimmers, follow spotlights, audio-
visual equipment, podiums and stage platforms.
P.16
Qatar market Exhibit 2: Qatar market size for sports related
The sound and stage production market in Qatar is in opportunities (QAR millions)
the developing stage and is expected to grow from
+7%
~QAR 92 million in 2016 to ~QAR 221 million in 2022. 169
It is expected to reach ~QAR 185 million in 2025,
growing at a CAGR of ~7% from 2016. The supply to 105 110
115
99
sports-related events is expected to grow from ~QAR 63 87
66
million in 2016 to ~QAR 169 million in 2022 and reach 63 53 58
~QAR 115 million in 2025.
Market drivers
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Sports and non-sports events: The size and number
of local and international events from sports Exhibit 3: Qatar market size for non-sports related
matches to music concerts, entertainment shows, opportunities (QAR millions)
conferences and summer camps determines the
70
demand for sound, light and stage equipment +10% 63
58
• High disposable income: When households have 47
52
43
more disposable income, they are more likely to 35
39
attend events, which will increase the demand for 29 32
equipment rental required for additional
performances. With a gross national income
increase of 4% between 2013-2014, Qatar has the
highest disposable income per capita in the region 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Time spent on leisure and sports: Sound and stage

equipment rental firms cater to the general public, Exhibit 4: Example of key events delivered by a
which attend events in their leisure time. As such, Qatar based supplier
an increase in leisure time represents greater
availability for consumers to attend events. This in 20th Qatar
turn creates additional demand for equipment Qatar
ExxonMobil
Open 3
rental companies and service providers National Powered

Day 2011 Qatar
• Influx of tourists: The sound and stage production CBQ National
Building Day 2011
sector is driven by tourism and events. The number Projection6
of visitors in Qatar increased by 14.4% in 2014
Highend
Key suppliers and customers Systems TecnoLED4
DL3 Digital in Qatar
To deliver this service, companies need to have a local Light5 National
base. The Qatari market has international and local Museum of Day 2011
Islamic Art
companies that provide these services to event Park
management companies and event organisers. There are Inauguration
SMEs that also play a role in this market: Source: TechnoPro Qatar
• Sports related: Government and non-government related entities such as Qatar Olympic
Committee (QOC), Aspire Zone, Ministry of Culture and Sports (MCS), Qatar Investment
Authority (QIA)
• Non-sports related: Organisers/ event management companies for events such as concerts,
fashion shows, summer camps, schools and universities
Source: BQ Magazine; Doha News, April 2014; Qatar Open, a men’s tennis tournament played on outdoor hard courts; A selection of LED 4
Screens with Dot Matrix Technology used in sports venues; Integrates a media server with a high output light engine, sensor camera and infrared
illumination system; Large scale images projected on the Commercial bank Plaza building
P.17
Other GCC market
With Qatar’s successful bid to host the 2022 FIFA Exhibit 5: Other GCC Market Size (QAR
World Cup™ and Dubai’s hosting of the World Expo millions)
2020, the GCC region is witnessing a boom in the
events management industry. The sound and stage 838
GCC market is expected to grow from ~QAR 362 765
+10%
million in 2016 to ~QAR 838 million in 2025; 698
636
growing at a CAGR of 10%. 580
529
483
441
402
Event equipment rental sector segmentation 362
The biggest market of sound and stage production

exists in the UAE followed by Saudi Arabia.
Sound and stage production equipment categories
vary and include:
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• PA systems rental: These are electronic sound
amplification and distribution systems, used to
support events. Renting out these equipment
require various services such as site evaluation, “The 2016 GCC market size of
setting up the equipment and engineering the ~QAR 362 billion, growing at a
event CAGR of ~10% to 2025, opens up
• Lighting rental: A combination of dimmers, follow new opportunities for Qatar-
spotlights and LED displays are used mainly in the
sports and non-sports related venues such as in based sound and stage rental
fashion shows, concerts, weddings firms”
• Audio-visual rental: Audio-visual equipment
consists of the multimedia side of the special Exhibit 6: Major players worldwide
event including LED dance floors, projection
screens and equipment, live visual mixing tools Total annual revenue Total annual revenue
and HD cameras of over USD 150 of over USD 30-149
million million
• Stage and structural rental: Stage equipment
ranges from large outdoor supports to small stages
and podiums. Other options also include catwalks
and risers used in fashion shows, screen support
structures, security and observation towers and
mobile stages used specifically in sports matches
Global market
Globally, the sound and stage production rental
industry is expected to grow at a CAGR of 2%, i.e
reaching ~QAR 7 billion by 2019. North America is
the biggest market followed by Asia-Pacific, Europe,
Latin America, the Middle East and Africa. Source: The rental and staging top 40, AVNetwork
Source ME 2015, Virtual Productions, Events equipment rental, InfoComm International, 2014
P.18
Industry overview: Qatar
There is an opportunity for Qatari companies to provide sound and stage equipment rental
services in Qatar sports venues
Supplier power
• The supplier market is highly competitive and consists of global players such as
Harman International Industries, Voxx International Corporation and Bose
Corporation
• The suppliers differentiate themselves from one another by regularly investing in
R&D
• Providing a local distribution in service support is crucial to survive in the market
Barriers to entry
Industry rivalry
Threat of substitutes • Local governmental, safety
• The market for sound and and health regulations and
• The presence of event
stage rental equipment is a requirements
management
fragmented market, featuring
companies with in- • Track record for delivering
relatively high competition
house capabilities high profile events
thereby substituting • Due to the commoditized
nature of business, most • Audio-visual technical
the need of renting
companies compete with capabilities required to
large external sound
each others on prices design and install equipment
and stage systems
• Availability of venues • SMEs having a strong • The long-term nature of the
with in-house presence in the market, who contracts signed with end
capabilities have established a solid customers (government
reputation, compete with entities, schools,
new entrants rental suppliers universities, event
management companies)
• Operators provide additional limits the opportunities for
support services such as user new entrants
trainings to differentiate
themselves • High initial capital
expenditure is required

• Buyers have a relatively high bargaining power • The growth in movie and video production as well
• Event management companies rent audio and as stage and theater production industries
stage equipment for specific occasions and tend enables the growth in entertaining events such as
to work with selected suppliers concerts, marriages, fashion shows
• Global sports events management companies
rent high quality equipment and are less price
sensitive; whereas small/medium sized events
are more focused on ‘value for money’ options
P.19
Investment
To capture the whole opportunity, an investor 109
55
million for the next ten years (2016 to 2025).
27
Local businesses with limited financial 14
the opportunity by investing less than the 1 4 40 80
maximum required investment as detailed in Investment
the scenarios below: Exhibit 8: Investment breakdown based on
1. An investment of ~QAR 40 million would • Sound systems,
generate a NPV of ~QAR 55 million CapEx monitors, lighting and
Pre-operating expense platforms purchases
2. An investment of ~QAR 4 million, would 33%
3. If an investor is limited to an initial 67%
investment of ~QAR 1 million, the resulting • Staff wages
NPV would be ~QAR 14 million • Marketing expenses
Revenue Exhibit 9: Revenue (QAR million)

If one company were to capture the full sound Other GCC
and stage opportunity in Qatar and the GCC, its Qatar +11% 163
150 156
144
revenues would increase from ~QAR 66 million 131
119
in 2016 to ~QAR 144 million in 2022 to attain ~ 108
QAR 163 million in 2025. However, investors 72
80
66
with a lower financial capability to invest or
lower risk appetite would still experience
significant revenue growth (refer to Exhibit 10).
Global sound, stage and light rental equipment 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
companies will have a more diversified revenue
base in the sports sector. These firms will be
able to satisfy the audience by providing them Exhibit 10: Annual revenue vs. Start-up investment
(QAR million)
with a unique sound and illumination
experience, allowing them to enjoy every Investment (QAR million)
Years
moment of the matches and performances. 1 4 40 80
2016 1 3 33 66
2022 1.4 7 72 144
2025 1.6 8 81 163
Total
12 59 595 1,190
(2016 – 2025)
P.20
Purchases represent the highest share of COGS

spending for the light, stage and sound SG&A
production industry (~55% of total cost). Other SG&A
Costs of goods
sold
Purchases mostly include smaller types of 13% Purchases
Marketing represents the
equipment, office requirements, stage effects, 2% majority of COGS
costumes, consumables, audio systems, Rent
9%
illumination equipment and other
miscellaneous items.
55%
Typically, 45% of the total cost for a sound and
stage production company is selling, general 21%
and administrative costs, out of which the Staff costs
largest component is cost of staff.
Staff wages represent ~21% of total cost, based
on industry benchmarks. Wage costs are
expected to remain steady within the Exhibit 11: CapEx and Opex intensity
upcoming years, as the industry requires some
CapEx intensity: High
functions that cannot be automated. The
market requires employees to process orders • CapEx is primarily related to start-up costs for large
and maintain equipment among other equipment, where industry operators must purchase
operational tasks. all equipment that they rent out
Advertising and marketing expenses are OpEx intensity: Medium

approximately ~2% of total cost based on • Keeping labour cost low will help to maintain a
industry benchmarks. Rent is approximately moderate OpEx intensity
9% of total cost.
Depreciation, and Amortization Exhibit 12: Projected EBITDA in 2016 to 2025
(EBITDA) (QAR millions)4
EBITDA%
EBITDA is projected to reach QAR 29 million EBITDA 29
30 28 20
in 2025, with an EBITDA margin of 18%. This 26
27
is based on the cost structure and revenue 25

21
24

15
15 14
12
11
10
10
5
5
-5 Due to initial start-up
investment
-10
-11
-15 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
For full opportunity, assuming 100% investment of investment
P.21
SPORT BUSINESS
OPPORTUNITIES FORUM
Temporary Grandstands
and Platforms
P.22
Introduction
Temporary grandstands and platforms present a growing opportunity for Qatar-based
companies in a region that is aiming to become a hub for the MICE1 industry
• Venue operations & maintenance: comprises of the activities necessary
Venue operations &
• Sports development: focuses on the engagement of people with sports, maintenance
particularly at a young age, both from an elite (professional) sports as
well as from an amateur sports perspective, eventually leading to the Sports development
participation in top level competitions
• Venue construction: comprises of the necessary steps that need to be Venue construction
taken for the construction of venues and training facilities including
planning, design development and construction Sports goods &
equipment
• Sports goods & equipment: refers to the entire process required to
design, produce, distribute and sell sports goods & equipment Sports commercialisation
• Sports commercialisation: refers to the activities that aim to monetise
the commercial rights of an event (e.g. broadcasting, sponsoring, Sports tourism
ticketing) and bring revenues to the rights holder
• Sports tourism: revolves around the necessary steps taken to influence Event management &
traveling to participate in or observe sports or other entertainment promotion
events
• Event management & promotion: refers to the entire process of Temporary grandstands
staging an event from the bidding phase to event delivery and post- and platforms
event services

One opportunity for potential investors in Qatar is the supply of temporary grandstands and platform rentals
as well as their installation. This opportunity falls under the ‘event management & promotion’ area, classified
into five parts, as follows:
Marketing Event Legacy

Bidding Organisation
& sales delivery & re-use
concept accompanied by sales can ensure operations to completed, tangible
generation, entrepreneurial risk maximum actually stage an assets should be
servicing of a with regards to attendance to an event. Depending on reused and
bid, preparation planning and event. Event the type of event knowledge gained
of bidding financing. Typically, tickets can be being held, specific during event
documents and if the event is bundled with technical skills and planning,
event planning. sanctioned, then hospitality or tangible equipment preparation and
there is a need to travel deals to and temporary delivery should be
purchase hosting encourage more infrastructure are made use of for
rights. potential required. future events.
Sport Business Opportunities Forum • Business Plans customers. October 2015
1 MICE refers to the meetings, incentives, conferences and exhibitions industry
2
P.23
Introduction
A business opportunity exists for Qatar-based companies to rent out and “Event management
install temporary/modular grandstands and platforms. This involves is viewed as a new
working with foreign producers to supply the relevant stock of inventory. and a growing
While Qatar is building up many permanent stadiums and structures, the
variety of event categories and locations will require more modular industry by the
structures that can adapt to the needs of event managers and spectators. government – this
Temporary infrastructure within this opportunity includes extensions of will lend to greater
permanent seating (e.g. media tribunes, spectator stadium extension) for
demand for
an event requiring larger capacity than usual, or on green field locations
(e.g. open field or waterside). temporary event
infrastructure”
The diverse array of upcoming events in Qatar, both sports and
non-sports, is creating an opportunity for locally based SMEs
who can cater to customised needs
Qatar has a busy upcoming calendar for both international and national
events. Government entities such as the Ministry of Culture and Sports “The events sector
(MCS), Qatar Olympic Committee (QOC), Aspire Zone and the Supreme needs the creation
Committee for Delivery and Legacy (SC) are all investing in sports-related of unique
events. While stadiums will support the infrastructure needs for some of
consumer
the events, the influx of visitors in the lead up to the FIFA World Cup™
events will require event organisers to expand venue capacity as well as experiences and a
accommodate spectators for non-stadium sports such as beach volleyball. changing
The Qatari events industry is also making a name for itself outside of the environment that
sports world, playing host to a diverse array of events such as will engage
TedxYouth@Doha, COP 18 Climate Change talks, the Doha Tribeca Film
Festival, and the Doha Trade Fair. The varying themes, locations and
audiences –
capacities of these events lend to a demand for increased flexibility in certain events
event spaces and increase demand for temporary infrastructure and demand a certain
overlay. type of venue”
The rental of temporary grandstands and platforms is relatively
fragmented in Qatar, with even greater competition in the installation
space, as the skill is closely aligned with the capability of scaffolding and
other such construction-related work that is already being conducted in
the construction sector.
Qatar-based companies have a great opportunity to build relationships
with event organisers and build up inventory based on local needs for
events. Low staffing needs lend naturally to SMEs starting up in the
sector, and success will be heavily reliant both on stocking inventory that
aligns with the track record of event needs as well as the ability to tailor
modular spaces based on the custom needs of each client.
Sport Business Opportunities Forum • Business Plans October 2015
P.24
Qatar market
The market for temporary grandstands and Exhibit 2: Qatar market size for sports related
platforms in Qatar is estimated to be around QAR 74 opportunities (QAR million)
million in 2016, and is expected to grow to ~QAR 157
million in 2025. The temporary grandstands and +8%
platforms market for sports related events in Qatar is 121
in the growth stage and is expected to increase from 92
83
~QAR 45 million in 2016 to ~QAR 92 million by 70 75
62
2025 growing at a CAGR of 8%. For non-sports 45 42 47
38
related events, it is expected to grow from ~QAR 29
million in 2016 to ~QAR 65 million by 2025.
Market drivers 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Events market: Qatar is gearing up to become a Exhibit 3: Qatar market size for non-sports
related opportunities (QAR million)
major regional hub for the events industry.
Increased attendance at events and variety of Rise in 2019 and 2022 due to
events will stimulate the need for variability in supporting events that coincide
with World Championship in
size of event seating to accommodate Athletics and FIFA World Cup
requirements
+9%
• Tourism: As Qatar builds up its leisure, sports 66 65
and cultural attractions, growth in visitor 53
59
numbers will increase the need to expand 43 44

existing space capacity for events such as 29 31
37
28
national day parades, Ramadan activities, and
concerts
• Sustainability: The focus on build-up of venues
for short-term use and at reduced costs will 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
benefit the temporary infrastructure sector Source: Alpen Capital
• Urban density: As urban areas become more

saturated, the ability to use a space many times
for different venue sizes and purposes will be
advantageous
Temporary grandstand and platform companies in Qatar
The market for temporary grandstand and platform rental and installation in Qatar is dominated
by international players such as Nüssli and Daplast. Locally, there is a need for a fully-integrated
service provider who can compete with such companies. Critical success factors will include the
ability to keep demanded stock on hand, manage inventory flow, and establish a strong
reputation for delivery in the market.
The key customers in the market, particularly for sports-related events, are government entities
including the Qatar Olympic Committee (QOC), the Supreme Committee for Delivery and Legacy
(SC), the Ministry of Culture and Sports (MCS), and Aspire. Other major customers include a mix
of government and private event management companies such as Qatar Tourism Authority
(QTA), Qvision, and Oryx Events.
P.25
Market for other GCC countries

The market size for other GCC countries is Exhibit 5: Other GCC market size (QAR million)
estimated to be ~QAR 562 million in 2016 and
growing to ~QAR 1.3 billion, with a CAGR of
1,319
10%, including inflation. 1,203
+10% 1,097
The GCC’s MICE segment is said to be worth as 1,001
much as QAR 4.7 billion, which drives demand 833
913
for ~40% of temporary grandstand and platform 693
760
625
services. The demand for temporary 562
infrastructure has increased across the GCC,
particularly in hubs such as Dubai and Doha as
the number of sports, cultural and corporate
events has increased. Organisers are seeking
more flexibility of event structure, which has 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
seen events move beyond only permanent
infrastructure such as concert arenas and hotels
to green field areas where the physical structure
of the event can be as small or as large as “GCC market size of QAR 562 Mn
needed. in 2016 and high CAGR of 10%
Bahrain is similar to Qatar as it is a smaller provides additional
country with a sizeable events market when
compared to the rest of the region. This is largely opportunities for Qatar-based
based on regional tourism and a steady flow of companies”
MICE business travelers.
The UAE is a major events hub in the region that also attracts many international visitors.
The diverse array of events requires temporary infrastructure companies to set up unique
structures that reflect the constantly changing themes and needs of clients. While the
country has seen many convention centres and hotels come up, clients are increasingly
demanding customized events that go beyond typical hotel-hosted events. Another push
towards temporary infrastructure stems from the desire to foster sustainable events
spaces and solutions. This push for more sustainability is similarly a growing trend on a
global level, and GCC governments are approaching governmental budget distribution
more cautiously.
Global market
The global sports market for temporary grandstands and platforms is ~QAR 15 billion2
and growing at a CAGR of approximately 3-4%. The largest market for this was for
football events in the EMEA region followed closely by sports in North America. The non-
sports market for this service is growing at a similar rate and is worth ~QAR 9 billion 3,
with the greatest number of MICE events taking place in Europe, followed by North
America.
2 Source: Statista
3 Source: IBIS World
P.26
The market is expected to grow with the expansion of the events industry thereby
generating a need for new players
Supplier power
• The relatively commoditized nature of grandstands means that grandstand rental companies are able to
switch suppliers quite easily
• There are limited numbers of local manufacturers, which increases reliance on foreign manufacturers
• The market is quite fragmented, which reduces the bargaining power
Threat of substitutes Barriers to entry

• Events management • High CapEx requirements
companies may integrate Industry rivalry due to need to stock various
backwards and arrange for • Events companies are not seating/platform products
temporary infrastructure as likely to seek out that can accommodate
themselves international contractors different events
• Events may increasingly unless it is for highly • Availability of cheaper labour
take advantage of existing specialised services, so in the region that can easily
convention halls or arenas rivalry is more be trained
rather than green field regionally/locally based, • Increasing safety regulations
structures, which would with players competing and established reputation
limit the need for locally in same market for quality of service are
temporary infrastructure • It is a fragmented market barriers to new entrants
such as grandstands with lot of local players

• Buyers have high bargaining power as there is • The events management industry is a
limited differentiation in the product and services significant driver of temporary grandstands
being offered by current players in market for and platforms. As events increase in volume
medium and low end segments and become more diversified, customized and
• However, for key events with high service and modular solutions such as temporary seating
quality requirements, event management will become more useful
companies tend to sub-contract grandstand supply
and installation to specialized companies thereby
reducing their bargaining power
P.27
Investment
must be capable of investing ~QAR 46 million. 26
The expected IRR for this opportunity is 17%. 13

the scenarios below:
CapEx • Grandstand
2. If an investor is limited to an initial Pre-operating expense
seating,
tributes/
investment of ~QAR 5 million, the resulting platforms
NPV would be ~QAR 3 million 43% • Office IT
57% equipment
• Staff wages
Majority of the investment is required for • Marketing
• Installation
equipment
CapEx due to initial purchase of grandstands, Expenses and tools
• Labour
installation tools and equipment from • Insurance
manufacturers.
Revenue Other GCC Qatar

opportunity in Qatar and the GCC, its revenues +11% 106
116
would increase from ~QAR 45 million in 2016 87

96
to ~QAR 116 million in 2025. However, 72

80
66
investors with a lower financial capability to 49 54
45 108
invest or lower risk appetite would still 73 80 89 98
66
experience significant revenue growth (refer to 60
Exhibit 10).
Qatar-based companies also have potential to 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
expand to other GCC markets. The pathway to Exhibit 10: Annual revenue vs. start-up investment
expansion includes options such as organic (QAR million)
growth, acquisitions, or joint ventures. This
market is expected to account for ~9% of total Years
company turnover. 5 23 46
The steady growth in the events industry, both 2016 5 9 13

sports and non-sports related, suggests that 2022 22 44 58
companies that maintain a high profile, good
2025 45 87 116
relationships and a reputation for quality
product and service delivery will continue to see Total
84 386 772
revenue growth. (2016 – 2025)
P.28
Typically, 64% of the total cost for temporary COGS

Marketing
grandstands and platforms rental company is SG&A
4% Salaries
cost of goods sold. The installation of 15%
temporary grandstands and platforms is quite
Office/land lease
labour intensive, thus rendering this a 1%
significant portion of cost of goods sold.
Another significant item is the purchase of
16% Other SG&A
bleachers and platform materials for rental as
well as installation equipment including Costs of goods sold
scaffolding planks, ropes, cables, and harness 64% Labour is a major cost as
COGS well as the purchase of
equipment. Firms may also purchase software materials such as
such as CAD as they move into design inventory and installation
equipment and tools
capabilities and map out structural integrity of
the temporary structures. Exhibit 12: CapEx and Opex intensity
Wages represent ~15% of total costs, based on
industry benchmarks. In turn, marketing
expenses represent ~4% of total costs, as • CapEx is high as rental companies must keep a stock of
companies must compete to promote their enough long-term assets in the form of grandstand
services within the events management seating and platforms to meet various event needs
community. Rental expenses represent ~1% of OpEx intensity: Moderate
total costs while the remainder of operating
• OpEx is moderate, with installation services relying
costs are split amongst expenses such as heavily upon labour
insurance, transportation, equipment repair,
etc.
(QAR million)*
(EBITDA)
EBITDA% EBITDA
EBITDA is projected to reach QAR 14 million 20 14
in 2025, with an EBITDA margin of 12%. This
14 12
12
13
analysis for this opportunity. 10 11 10
10 9
7
5 6 8
5
5
6
0
4
-5 Due to initial start-
up investment 2
-10 0
-10
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
P.29
SPORT BUSINESS
OPPORTUNITIES FORUM
Corporate Hospitality
P.30
Introduction
An increase in the number of sports and entertainment events drives demand for corporate
hospitality services, however, existing local players lack the expertise to address this need
Venue operations &
event services
maintenance
events
• Venue operations & maintenance: comprises of the activities necessary Corporate hospitality

One opportunity for potential investors in Qatar is the provision of corporate hospitality services. This
opportunity falls under the ‘event management and promotion’ area. Event management and promotion is
defined as follows:
Marketing Legacy
& sales & re-use
P.31
Introduction
The opportunity consists of providing corporate hospitality services in Qatar
to sports and entertainment events (such as concerts and festivals). The
provision of VIP services at a venue ensures that guests experience the event
in an exclusive setting, and enjoy services and amenities such as first-rate
catering, parking and shuttle service, the best seating (including sky boxes
and lounges), hostess services and others. Due to the nature of business,
limited opportunities exist to export these services to other GCC countries.
Corporate hospitality is typically divided in three categories:
(1) Commercial hospitality: Hospitality packages sold to companies and
individuals, usually with a significant price mark-up
(2) Sponsor hospitality village: Hospitality services purchased by the
event’s sponsors and offered to accredited and ticketed guests. These
guests are given access to a dedicated VIP area either within or
outside the venue, with cost and service provision covered by the
organisers
(3) VIP hospitality: Hospitality services offered to rights holders’ and
event organisers’ officials and special guests. These guests are given “With tighter
access to a dedicated VIP area which is usually within the venue, with controls on
cost and service provision covered by the organisers
spending,
Opportunities exist for local SMEs to provide corporate
hospitality services to sports and non-sports events alike hospitality and
events are
Opportunities for the provision of corporate hospitality services in Qatar are
expected to increase, fueled by upcoming high profile sporting events becoming
including the UCI Cycling World Championship in 2016, the IAAF World increasingly
Championship in 2019 and the FIFA World Cup™ in 2022. tailored to
As the number of local and international corporations in Qatar grows, so too individual needs”
does the number of businesses with both the motivation and budget to
organize corporate hospitality events for their clients and employees.
While once corporate hospitality events were only an opportunity for
luxurious entertainment, they are now becoming more complex as
companies steer towards cost effectiveness techniques and alignment with
business values, such as Corporate Social Responsibility (CSR) initiatives.
Event companies with corporate hospitality services expertise have the
flexibility to deliver custom experiences and can differentiate themselves in
Qatar from competition to drive business.
Competition in Qatar exists in the form of general event management
companies and on-site event services at large scale venues such as hotels and
conference centers; however, the market for corporate hospitality specialists
remains largely unpenetrated. One-size-fits-all exclusive packages do not fit
the needs of all businesses and the opportunity is present for corporate
hospitality experts to offer customers unique value–add through tailored
event alignment.
P.32
Qatar market
The corporate hospitality market in Qatar is expected Exhibit 2: Qatar market size for sports related
to grow from ~QAR 72 million in 2016 to ~QAR174 opportunities (QAR millions)
million in 2025. Corporate hospitality services for
sports events in Qatar is developing and is expected +8%
to grow from ~QAR 46 million in 2016 to ~QAR 94 123
million in 2025, growing at a CAGR of 8%, including 94
85
inflation. It is expected to peak at ~QAR 123 million 72 77
63
in 2022. The corporate hospitality sector in Qatar is 46 43 48
39
largely unpenetrated and presents a lucrative
opportunity for potential investors.
Market drivers 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Busy events pipeline: Premium international
Exhibit 3: Qatar market size1 for non-sports
events will be hosted by Qatar (e.g. UCI Cycling
related opportunities (QAR millions)
World Championship 2016, IAAF World
Championship 2019, FIFA World Cup 2022™)
64
• Corporate profit: Higher corporate profit +10% 58
52
encourages higher spending on a variety of 43
47
39
activities including the corporate hospitality 32 35
26 29
• Developing tourism and entertainment market:
Qatar Tourism Authority’s (QTA) “National
Tourism Sector Strategy 2030” focuses on
evolving the tourism industry across sectors, 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
including family entertainment
1 Includes MICE and entertainment industry
• Business travelers: Inbound business tourism is
increasing and is supported by investments in
business hotels and event spaces
• Corporate Social Responsibility: There is a
growing focus on CSR amongst Qatari “According to the
companies, with a government backed CSR International Congress and
index planned for publically listed companies Convention Association
Corporate hospitality providers in Qatar country and city rankings;
Corporate hospitality is a niche market in Qatar with the number of corporate
no specialised company currently operating solely
events held in Doha have
within this sphere. At the moment, suppliers of such
services are mainly five star hotels and event increased by 40% between
management companies such as The Planners or Q- 2011 and 2014”
Live Events. Large one-off events such as the FIFA
World Cup™, including corporate hospitality events
as well as other private events that may be organised
by FIFA and sponsors, will require additional
corporate hospitality service providers.
P.33
Corporate hospitality is a niche service offering of particular importance to event sponsors,
corporations and high net worth individuals
Supplier power
• Suppliers (i.e. catering, security, transport, temporary structure and service
providers) have medium/low bargaining power due to limited differentiation
• Supplier power is higher closer to events when the lead time is short, as the number of
suppliers willing and capable of handling the risk to deliver with limited time
decreases

Industry rivalry
• Backward integration by • Low capital investment is
• Competition in the
event management required
middle/low end segment
companies that cater to market is high • Technical areas that are
multiple event segments, “mission critical”, such as
• However, industry rivalry is
including some corporate a strong reputation,
much lower for premium
hospitality engagements notable experiences and a
events segment
• Hotels, sporting areas and reliable supply chain, are
• Most of the players in this
entertainment/ highly valued by rights
market are either event
performance sites offering holders and promoters
management companies or
pre-packaged corporate and generate a sense of
hotels
hospitality options loyalty that is difficult for
• SMEs don’t tend to focus on new entrants to overcome
premium market segment
due to high competition and
service requirements

• Contrary to suppliers, buyers have a decreasing • The growth of the regional leisure and
bargaining power as the time for contracting gets entertainment industry creates additional
shorter demand for corporate hospitality services
• The decrease in buyers’ power is most pronounced • Growth in tourism industry
when sourcing unique venues or premium services • Higher spending on corporate events
that require a long lead time for logistics and
installation, and which may be subject to capacity
constraints on short notice
P.34
Investment
39
20

5 14 29
the opportunity by investing less than the
1. An investment of QAR 14 million (50% of Exhibit 5: Investment breakdown based on

the maximum investment) would generate a benchmarks (Illustrative)
• Offices
NPV of ~QAR 20 million CapEx
• Vehicles
Pre-operating expense
• Furniture
2. If an investor is limited to an initial 28% • IT hardware
investment of ~QAR 5 million, the resulting and software
NPV would be ~QAR 7 million • Advertisement 72%

• Staff wages
• Marketing
• Insurance
Revenue
corporate hospitality opportunity in Qatar, its 111
+10% 100
revenues would increase from ~QAR 46 million 82
91
in 2016 to ~QAR 111 million in 2025, growing at 68

74
61
a CAGR of 10%, including inflation. 46 50
56
However, investors with a lower financial

capability to invest or lower risk appetite would
still experience significant revenue growth
(refer to Exhibit 7). 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Exhibit 7: Annual revenue vs. Start-up investment

(QAR million)

Years
5 14 29
2016 8 23 46
2022 14 41 82
2025 19 55 111
Total
129 369 739
(2016 – 2025)
P.35
Typically, 70% of the total cost for a corporate COGS

Marketing
hospitality company is cost of goods sold, SG&A
3% Salaries
including raw materials, consumables and 13%
external charges.
Office/land lease
COGS includes purchasing of third-party 3%
services that go into organizing an event, given

that corporate hospitality service providers 11% Other SG&A
typically do not execute each step of the event

themselves. Instead, service providers
Costs of goods sold
typically sub-contract and hire outside 70%
Labour cost represents
COGS
companies to provide services such as the majority of COGS
followed by purchases i.e.
photography, catering and set-up. consumables
Salaries account for around 13% of total

Exhibit 9: CapEx and OpEx intensity
operating costs. Corporate hospitality
companies are almost completely reliant on CapEx intensity: Low
individuals arranging rentals, scheduling
bookings and renting space. • As a service-based opportunity corporate hospitality is
not a CapEx intensive industry
Corporate hospitality service providers also
incur a range of miscellaneous expenses, OpEx intensity: Medium
which account for around 11% of their total
• Moderate OpEx intensity due to the emergence of new
operating cost. This often covers cost items technologies making it easier to organize events
such as website hosting and printing.
Smaller cost items include marketing which
accounts for approximately 3% of total
operating cost and rent which also accounts Exhibit 10: Projected EBITDA in 2016 to 2025
for around 3%. (QAR millions)3
EBITDA%
Earnings before Interest, Taxes, EBITDA
Depreciation, and Amortization 15 11
11
(EBITDA) 9 10 10
10 8 9
7 8
EBITDA is projected to reach QAR 11 million 5 5 8
4 4
in 2025, with an EBITDA margin of 10%. This 5 7
0
analysis for this opportunity. 5
Due to initial start- 4
-5 up investment
3
-10 2
-10 1
-15 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
3 For full opportunity, assuming 100% investment of investment
P.36
SPORT BUSINESS
OPPORTUNITIES FORUM
Crew-wear & Uniforms
P.37
Introduction
Qatar has a busy pipeline of local and international sports events which generates
opportunities for local SMEs to supply crew-wear & uniforms for all event personnel
Venue operations &
event services
maintenance
events
• Venue operations & maintenance: comprises of the activities necessary Crew-wear & uniforms

One opportunity for potential investors in Qatar is to supply crew- wear and uniforms for all personnel
participating in the event. This falls under the ‘event management and promotion’ area of opportunity. Event
management and promotion can be defined as follows:
Marketing Legacy
& sales & re-use
P.38
Introduction
In most cases, event personnel are required to wear specific uniforms to
ensure consistent branding across all those participating in the event, “The supply of
regardless of the function - from volunteers to officials. For volunteers, crew-wear and
branded crew-wear is also often considered to be memorabilia.
uniforms to sports
Crew-wear and uniform specifications need to be compatible with the
weather conditions of the hosting city. In the case of Qatar, crew-wear
events in Qatar
should be particularly effective against heat and transpiration. Providers will reach a peak
of uniforms are typically either ‘white label’ suppliers, or branded apparel of ~QAR 110
suppliers such as Nike or Adidas. million in 2022
This opportunity covers designing and providing crew-wear and uniforms primarily driven
for event management companies in Qatar. In addition to sports events,
others economic sectors such as healthcare, hospitality, manufacturing, by the FIFA World
education and facilities management provide additional demand for Cup™”
uniforms suppliers.
Opportunity exists for local SMEs to raise their level of
sophistication to provide services for premium events
The market for crew-wear and uniforms in Qatar is supported by a strong
pipeline of international sports events planned for the coming years such “Premium
as the IAAF World Championship in 2019 and the FIFA World Cup™ in international and
2022. Moreover, recurring annual premier international events in recurring local
athletics (e.g. IAAF Diamond League) and tennis (e.g. Qatar ExxonMobil
Open) among others, ensure continued and growing demand for sports
events planned to
crew-wear and uniforms year round. be hosted by Qatar
Crew-wear and uniforms worn by event personnel plays a key role in generate a strong
helping venues and events make a lasting impression on all attendees. demand for crew-
Uniforms are a display of organisation and help attendees identify the role wear and uniforms
of each of the participants. In addition to event management, additional for all event
demand is generated by the education and service sectors. An opportunity
arises for Qatari entrepreneurs or Qatar-based companies to enter this personnel”
market and provide premium services to meet the market growth.
Service providers capable of providing high-quality products, exceptional
customer service, a customized online shopping experience and operate
with quick turnaround times can differentiate themselves from
competitors in Qatar and drive the business forward.
P.39
Qatar market
The total market for crew-wear and uniforms in Exhibit 2: Qatar market size for sports crew-wear
Qatar is ~QAR 116 million in 2016 and is expected to and uniforms (QAR millions)
grow at a CAGR of 8% to reach QAR 237 million in
2025. The supply of crew-wear and uniforms to +7%
sports events will reach a peak of QAR 110 million in 110
2022 primarily driven by the FIFA World Cup ™.
68 71 75
Market drivers 64
56
41 43
The primary factors driving the demand in Qatar are: 34 38
• Sports events pipeline: Premium international

events and recurring local events planned to be
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
hosted by Qatar such as the UCI Cycling World
Championship 2016, IAAF World
Championship 2019 and the FIFA World Cup
Exhibit 3: Qatar market size for non-sports crew-
2022 ™, generate a strong demand for crew-
wear and uniforms (QAR billions)
wear and uniforms for all event personnel
• Labor force: Qatar’s labour force is expected to +9%
162
146
reach ~1.7mn by the end of 2014, adding 132
120,000 jobs this year. Uniforms are needed in 114 114
96
a number of sectors of the economy 75
90
81 75
• Education: The number of students at
government and private schools reached
245,000 for the school year 2013/2014, a total
increase of 5.6% from the previous year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Growing facilities management market: Source: Worldbank, Frost & Sullivan, Ministry of development planning and statistics
Increasing use of facilities management

companies for sports and non-sports venues
provide additional demand for work-wear and
uniforms
Crew-wear and uniforms providers in Qatar “Providers are
Local industry operators are mainly SMEs (e.g. diversifying their product
Integral Services Company or Hi-Style Tailors), portfolio towards multiple
which compete on a variety of factors including industries such as hotel
price, store location, product selection, quality of
store personnel and relationships with customers.
and corporate uniforms,
Industry operators are vertically integrated and are industrial uniforms,
being involved in several steps of the supply chain. school uniforms and
This includes design, manufacturing and retailing safety apparel”
activities. Providers are diversifying their product
portfolio towards multiple industries such as hotel
and corporate uniforms, souvenirs, industrial
uniforms, school uniforms and safety apparel.
P.40
GCC and Qatar market is fragmented with opportunities for new players to serve the
growing event market
Supplier power
• Textiles suppliers have low bargaining power due to limited differentiation
in their products and capabilities
• Companies are able to maintain higher profits based on cost competitiveness
rather than prices
• Most of the raw material is imported in Qatar and GCC. Customer are open
to paying a premium based on their perceptions about the quality of raw
material

• Buyers can bypass the Industry rivalry • Low start-up cost is
need for uniforms by • The industry is highly required to open a
purchasing ready-made fragmented with the majority workshop
wear from international of the suppliers being SMEs • Main costs include initial
branded apparel stores
• Operators that produce leasing costs, investment on
and online stores with
special orders upon request, sewing machines and
manufacturing facilities
provide timely deliveries of buying an initial stock of
based in low cost countries
ordered goods and offer client raw material
such as India, Vietnam,
assistance for product • Customer loyalty or
Bangladesh, Sri Lanka
problems and issues are likely exclusive agreements with
to earn a good reputation, corporate buyers may make
thus increasing sales it difficult to attract sales
• There is competition from for new entrants
Asian suppliers to meet the • Limited industry specific
demand of the low end licensing requirements to
market enter the industry

• Buyers in general have higher bargaining power. • Cotton is a key input in many apparel-
However, it decreases as the lead time for delivery manufacturing processes, so fluctuations in
gets shorter. This is subject to capacity constraints the price of cotton can have a significant
for large volumes on a short notice impact on industry profit margins. When the
• Low cost products manufactured in countries such world price of cotton increases, industry
as China, India, Pakistan and Bangladesh, give purchase costs go up, forcing companies to
local buyers additional bargaining power either pass the increase onto consumers thus
driving away price-sensitive customers, or
absorb the cost in the form of lower profit
margins. The world price of cotton is
expected to decrease in 2015
P.41
Investment
To capture the whole opportunity, an investor 43
maximum required CapEx as detailed in the
Investment
scenarios below:
Exhibit 5: Investment breakdown
1. An investment of ~QAR 16 million would
CapEx • Equipment
16% • Machines such
2. If an investor is limited to an initial as sewing
investment of ~QAR 5 million, the resulting machines
• IT hardware
NPV would be ~QAR 7 million • Advertisement and software
• Staff wages 84%
• Marketing
• Initial purchases

If one company were to capture the full crew
+5%
wear and uniforms opportunity in Qatar its 82
86 90
78
revenues would increase from ~QAR 60 million 69 72 75
63 66
in 2016 to ~QAR 90 million in 2025. 60
However, investors with a lower financial

(refer to Exhibit 7).
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Successful players have been able to maximize
their returns and revenue by specializing in Exhibit 7: Revenue vs. Investment (QAR million)
niche and high-quality products that are more Revenue (QAR million) based on investment level
costly to outsource, such as intricate work-wear Investment (QAR million)
and uniforms, thus retaining a higher profit
Years 5 16 32
margin.
2016 10 30 60
2022 13 39 78
2025 25 45 90
Total
123 369 739
(2016 – 2025)
P.42

Costs of goods sold
Typically, ~83% of the highest cost for a COGS Cost components:
• Raw materials
uniform supplier company is costs of goods SG&A
• Purchases
sold. Purchases represent the single largest
industry expense within COGS and includes COGS
fabrics, yarns, buttons, zippers and a variety of 83%
other materials necessary to make clothing. As

a result of the volatility of commodities, 1% Marketing
particularly cotton, supplier have contended
with input cost instability and higher purchase 8%
Salaries
costs as a share of revenue.
5%
Labor costs are the industry’s second-largest 3% Office/land lease
expense, accounting for around 8% of the total Other SG&A
operating costs. Employees are required to

have a more specialized knowledge of products Exhibit 9: CapEx and OpEx intensity
in order to provide a higher degree of
CapEx intensity : Medium
customer service.
Other expenses include office lease (~5%), • The overall level of CapEx within the industry is medium
since the company is required to invest in equipment and
other SG&A (~3%) and marketing which machines required to produce uniforms
accounts for around 1% of the total operating
cost. OpEx intensity : Medium/high
• The industry is labor intensive as suppliers rely on staff

to provide high level customer assistance. In addition,
the industry requires a large percentage of raw materials
to be purchased prior to production

(QAR millions)*
(EBITDA)
EBITDA is projected to reach QAR 11 million EBITDA% EBITDA
in 2025, with an EBITDA margin of 13%. This
is based on the cost structure and revenue
10 10 10 11 11
10 7 7 7 8 9 12
10
5
8
0
6
-5
4
-10 2
-15 -13 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
* For full opportunity, assuming 100% investment of CapEx

P.43
SPORT BUSINESS
OPPORTUNITIES FORUM
Ticketing
P.44
Introduction
Demand generated by a robust sports and entertainment events pipeline, combined with
changing consumer requirements creates an opportunity for local SMEs
Venue operations &
event services
maintenance
events
• Venue operations & maintenance: comprises of the activities necessary Ticketing

One opportunity for potential investors in Qatar is the provision of ticketing services. This falls under the
‘event management and promotion’ area of opportunity. Event management and promotion can be classified
as follows:
Marketing Legacy
& sales & re-use
P.45
Introduction
This localized opportunity consists of providing ticketing services in Qatar
to sports and entertainment events (e.g. concerts, cinemas and theme
parks) on behalf of producers, promoters and venue operators. The role
and added value of a ticket agent differs by type of event –ranging from
simply providing a ticketing system to fully operating a multi-channel
distribution network. Ticketing companies typically charge several fees to
consumers, but usually pass on some of this additional revenue to event
organizers as ‘client rebates’. Ticket agents can boost ticket sales by
marketing effectively as well as using their brands and different channels
(e.g. internet, call centers, ticket outlets and box offices) to attract a large
group of attendees.
Exhibit 2: Classification of ticket agent activities
Event End
Ticket agent
organiser consumer
System/Security Marketing/Information Sales/Fulfilment Additional Services
 Offering a reliable ticketing  Maintaining Customer  Adding convenience by creating  Offering package deals in order
system for booking, invoicing, Relationship Management a multi-channel distribution to enhance attractiveness for
printing, and scanning  Combining events in folders or network to allow more customers end-customers
 Handling high volumes in short through web portals thus to purchase tickets  Offering consumer services such
time frames attracting additional consumers  Reducing costs through as event-related accommodation
 Reducing costs through  Increasing marketing channels economies of scale, and travel arrangements,
economies of scale predominantly in call centres cancellation protection, etc.
Opportunity exists for local SMEs to provide ticketing services

for local events
Qatar’s ticketing market growth is supported by a strong pipeline of
international sports events in the coming years such as the UCI Cycling “The Qatar
World Championship 2016, IAAF World Championship 2019 and the Tourism Authority
highly anticipated 2022 FIFA World Cup ™. This is in addition to recurring has major
and annual premium international events such as the IAAF Diamond
development plans
League and the Qatar ExxonMobil Open. Qatar Tourism Authority (QTA)
also has major development plans to expand the national demand with to expand the
over 100 events planned for 2015/2016, of which 60 are international. national demand
Currently, there are only a few players (local and international) which are with over 100
capable of meeting the service requirements for these high-profile events. events planned for
New trends such as the increase in use of online channels for ticket
purchasing and other changing requirements from event organizers create
2015/2016, of
a gap in the existing market. Nowadays, in addition to ticketing services, which 60 are
event organizers expect data and analytics from their ticketing agents. international”
This provides an opportunity for local Qatari investors and companies to
partner with international ticketing agencies. The partnership will aide in
the development of a customised product which is robust enough to handle
the event pipeline.
P.46
Market overview
Qatar market
The total ticketing market in Qatar is estimated to Exhibit 3: Qatar market size for sports related
grow at a CAGR of ~10%, from ~QAR 60 million in opportunities (QAR millions)
2016 to ~QAR 146 million in 2025. The ticketing
market for sports events in Qatar is developing and is
expected to grow from ~QAR 30 million in 2016 to +8%
82
approximately ~QAR 62 million in 2025, growing at a
62
CAGR of 8%, including inflation. The ticketing market 51
57
48
for sports segment will experience a peak of ~QAR 82 42
30 32
million in 2022, primarily driven by the FIFA World 26 28
Cup ™. The ticketing sector, specifically in Qatar, is

still immature and has much room for development
alongside increasing levels of disposable income and 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
the hosting of major sports events. Source: QOC, MCS, SC, ASPIRE
Market drivers
Exhibit 4: Qatar market size1 for non-sports
The primary factors driving demand in Qatar are: related opportunities (QAR billions)
• Sports events pipeline: Premium international
and recurring local events planned to be hosted 72
+10%
in Qatar (e.g. UCI Cycling World Championship 59
65
2016, IAAF World Championship 2019 and FIFA 53

48
44
World Cup 2022 ™) 33 36 40
30
• Developing tourism and entertainment market:
Qatar Tourism Authority’s (QTA) “National
Tourism Sector Strategy 2030” focuses on
enhancing the tourism industry across market 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
segments, including family entertainment 1 Includes MICE and entertainment industry
• Demand for leisure activities: Qatar offers a

balanced life style to its population with a high
net income level. This allows for time to be spent Exhibit 5: Type of event by segment
on events such as sporting events and concerts
• Per capita disposable income : High levels of High
Locked / system ticket segment Traditional ticket agent segment
(Seated)
disposable income across the country further
drives demand for events Performing arts / International
Mid-sized Sporting events
MICE events
theatres
Ticketing providers in Qatar

The current competitor structure is comprised of large Circus
Pop + Rock Musicals
Complexity
Concerts
international companies including Virgin Tickets and

Live Nation, and locally-based companies such as Q-
Tickets and TicketFun. Local companies lack the Cinema Theme parks
capability to meet the requirements of international

events and therefore focus on less complex and less Very small
theatres
Playgrounds Dance parties Fairs
attractive segments (e.g. cinema). While many of the Low

existing players provide standardized services, new (Non-seated) Emerging mass segment
Less attractive segment
entrants can provide additional services such sales data
Small Event organiser’s size Large
analytics to differentiate themselves from others.
P.47
The ticketing market in Qatar is still immature and there is a small number of companies
that play in this moderately-competitive market
Supplier power
• Suppliers have limited bargaining power due to the limited differentiation for the material
(such as printed tickets) and services (such as website management/ update services)
• However, when approached on short notices, they have medium bargaining power and are
able to demand higher prices for the products and services offered

• New web-based software Industry rivalry • The ticketing industry has
solutions makes ticketing • Even though some medium barriers to entry.
easier and less complicated, international players Although the capital and
therefore it becomes already have a local labor costs required to begin
increasingly easy for venue footprint (such as Virgin operations are relatively
owners and promoters to Tickets and Ticketmaster), low, the industry’s major
develop their own ticketing the market is not yet players, such as Virgin or
solutions saturated. New SME Ticketmaster, benefit from
• Higher ICT penetration in players like TicketFun have significant brand exposure
Qatar further supports successfully entered the • Successful track record of
replacement of printed market recently delivery in previous
ticketing solutions • Products and services engagements and signed
• Increasing use of P2P offered by current players long-term contracts
platforms such as lacks differentiation and between event organizers
QatarLiving can impact customisation to meet local and ticketing agencies
direct sales from ticketing demand further increase the barriers
agents for a new entrant

• The decrease in buyers’ power is most pronounced • The tourism industry offers activities and
when ticketing solutions require a long lead time entertainment options that complement the
for logistics and production. This may also be ticketing industry. This includes museums,
subject to capacity constraints for large volumes on amusement parks, adventure activities, etc.
short notice The existence of such assets increases the
• The bargaining power of producers, promoters, need for tickets and maximizes economic
venues owners and event organisers is high benefits from ticketing agents
depending on the quality of the event/show that
they provide
P.48
Investment

The expected IRR for this opportunity is ~19%.


generate a NPV of ~QAR 13 million benchmarks (Illustrative)
CapEx • Ticketing
2. If an investor is limited to an initial Pre-operating expense
equipment
• Furniture
investment of ~QAR 5 million, the resulting 33% • IT hardware
NPV would be ~QAR 4 million
~67% of the investment will be spent on pre- • Staff wages 67%
• Office lease
operating expenses which includes cost of • Marketing
hiring employees, marketing cost and wages
until the business becomes self sustainable.
Revenue Qatar

ticketing opportunity in Qatar, its revenues 111
+10% 101
91
to ~QAR 111 million in 2025. However, 68

75
62
investors with a lower financial capability to 46 51
56
invest or lower risk appetite would still

experience significant revenue growth (refer to
Exhibit 9).
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Industry costs and returns vary by operator, Exhibit 9: Annual revenue vs. Start-up investment
depending on the mix of services offered and (QAR million)
the targeted market. Companies that offer a Investment (QAR million)
wide array of event services may be able to Years
5 15 31
obtain higher profit margins due to their wider
reach and services portfolio. 2016 7 23 46
2022 13 41 83
2025 18 56 111
Total
119 371 743
(2016 – 2025)
P.49
Typically, 78% of the total cost for a ticketing COGS Marketing
company is costs of goods sold, the largest SG&A 11% Salaries

component of which is cost of purchases. 2%
Office/land lease
Purchases mainly include payments made to 7%
artists/ event organisers. 2%
Other SG&A
Marketing cost represents 50% of SGA cost,

based on industry benchmarks. As the
industry becomes more saturated with players,
existing participants must set themselves apart
through the use of advertisement campaigns 78%
Costs of goods sold
and promotions. COGS
Mainly constitutes of
purchases
Wages for internet based ticketing companies
account for a slim portion of SG&A,
accounting for about 9%. Since industry
operations are based on the internet, labor CapEx intensity: Medium-high
does not play a vital role in the day-to-day
transactions of ticket sales. However, • Capital investment primarily relates to spending on
software, hardware and bandwidth necessary to operate
companies selling tickets through ticket a website
outlets and call centers would have higher
labor costs. OpEx intensity: Low
Setting up a ticketing company in another GCC • The number of employees required to run an online
event ticket sales company is relatively minimal
country would require companies to setup
local offices and work in partnership with local
event management companies. This would
also involve collaboration with local banks to Exhibit 12: Projected EBITDA in 2016 to 2025
provide online payment systems to their (QAR millions)3
customers.
EBITDA% EBITDA
(EBITDA) 11
12
10
10
10 9
EBITDA is projected to reach QAR 12 million 7 8 9
5 6 8
4 5
7
6
5
-5 4
3
Due to initial start- 2
-10
up investment
-10 1
-15 0
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Label
P.50
SPORT BUSINESS
OPPORTUNITIES FORUM
Television Production
P.51
Introduction
Establishing a television production agency specialised in sports in Qatar presents a
profitable opportunity for Qatar-based companies and entrepreneurs
Venue operations &
event services
maintenance
• Sports goods & equipment: refers to the entire process required to Event management &
design, produce, distribute and sell sports goods & equipment promotion
ticketing) and bring revenues to the rights holder
Sports commercialisation
• Sports tourism: revolves around the necessary steps taken to influence
events
• Venue operations & maintenance: comprises of the activities necessary Television production
Opportunities in sports commercialisation

One opportunity for potential investors is the establishment of a specialised sports television production
provider in Qatar. This opportunity falls under the ‘sports commercialisation’ area, defined as follows:
Sports rights & Production & Distribution &

Retail channels Services
property acquisition servicing packaging
The first step of Event production Distribution and Wholesalers/ Services to clients
commercialisation is the business of packaging of commercial rights may include
whether through preparing and rights (sponsoring & acquirers sponsorship
media/gaming or delivering an broadcasting) is the distribute account
merchandise is the event. It is a highly process of converting and sell the management
establishment or competitive and rights into actual material (activation,
acquisition of a sports international sellable products and through retail marketing etc.),
property (e.g. event, business that is distributing them to the channels that customer service
league, brand) or its typically clients (e.g. brands, make it for private clients
commercial rights outsourced by the TV/media etc.) It is available for (ticketing) and
(e.g. broadcasting, rights holders to typically conducted by the wider other
sponsoring, etc.) different parties the rights holder or its public
appointed agency
P.52
Introduction
Along with changes in consumer behaviour over the past couple of years and
a tremendous shift in media technology, the television production industry
is witnessing strong market growth. A business opportunity exists for “Al Kass
potential investors to establish a specialised television production company
in Qatar which focuses on the production of sports television programming.
dominates the
Such firms buy their equipment from global manufacturers and purchase sports television
their copyright licenses from intellectual property licensing firms. Their production
customers are typically broadcasting and networking agencies that broadcast market in Qatar,
the content to consumers. Sports television production is a specialised
opportunity for Qatar-based firms, and will allow spectators to enjoy the with a focus on
unique match-day experience. regional and
local
Capability and capacity constraints in the Qatari market create an competitions”
opportunity for SMEs
In recent years, sports television became an increasingly important medium
in Qatar, with around 28% of residents tuning in to sports channels. Qatar
has a plan to expand the national demand for sports with over 100 events
planned for 2015/2016. Along with a growth in the number of events comes
an increase in demand for sports TV production. “The U.S
Currently, the Qatari market for sports television production is in the early television
stages of development. Al-Kass is one of the key players with strong in-house production
production capabilities. Al-Kass typically focuses on producing content for
local and regional sports events. beIN Sports, on the other hand, has some industry
in-house production capabilities, however, it relies mainly on purchasing represents a third
content from production houses that have produced content for premium of the global
international events.
industry,
A number of leading sports institutions are present in Qatar such as Aspire
Infront Sports & Media, which can lead the way in developing the television dominating the
production segment in Qatar. Few local suppliers exist for production market
equipment, however there exists a large number of federations and worldwide”
associations that hold sports events locally year round. The main buyers of
TV production services include broadcasting networks and online platforms.
Sports television programming is a customized production genre and
success in this field relies on access to technically skilled employees and the
ability to adopt advanced technology quickly.
Source: Informa, SportCal, Company website, The Media & Entertainment Industry in the United States
P.53
Qatar market
Exhibit 2: Qatar market size for sports television
The specialised sports television production market in production (QAR millions)
Qatar is in the developing stage and is expected to
increase from ~QAR 238 million in 2016 to ~QAR 486
million in 2025, growing at a CAGR of ~8%.
+8%
Market drivers 641

486
• Sports events pipeline: The size and number of 441
400
local and international sports events held in Qatar 374
329
in the upcoming years, determines the demand for 238 251
221
television production 202
• Demand from television broadcasting networks:

High viewership of sports broadcasters affects the
shows’ ratings; which in turn increases television 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
production. Currently, 28% of Qatar residents
watch sports channels
• High-speed internet connections: The number of
“The television market in Qatar
high-speed internet connections or broadband is currently dominated by local
connections impacts the demand for television digital satellite television, which
programming generates additional demand for
• Advertising expenditure: The airtime advertisers local television production to
purchase influences the television networks’
spending on television programming; therefore
meet the market requirements”
influencing television production
• Cable television subscriptions: The number of cable television viewers affects the television
production directly. More subscriptions reflect more ratings from viewers, which affects the
number of advertisements and therefore the production of sports shows
• Disposable income: The increase in household disposable income influences customers as they
become more willing & able to attend events. This rise in the number of attendees influences
the growing demand for television viewership
Television production in Qatar

Television production firms are limited in Qatar. The main sports television producer is Al-Kass
sports channel. beIN Sports also has in-house production capabilities, but at a smaller scale
compared to Al-Kass.
Main suppliers for raw materials and equipment are global equipment manufacturers and lessors
such as Panasonic and 360 Systems, in addition to copyright licensing agencies and rights owners
such as FIFA and Qatar Stars League (QSL).
Buyers are typically broadcasting companies such as beIN Sports and global cable television
producers such as AT&T and online platforms.
Source: BQ Magazine, The Report Qatar 2015

P.54
Other GCC countries market

Exhibit 3: Other GCC Market Size
The market size for sports TV production in other (QAR billions)
GCC countries is expected to increase from ~QAR
3.6 billion to ~QAR 12.9 billion in 2025, growing
12.9
at a CAGR of ~15%.
+15% 10.8
Events taking place in other GCC countries such as 9.1
the Formula 1 in the UAE and Bahrain, the Dubai 7.6
6.3
Horse Racing World Cup as well as the Rugby 4.8 5.3
4.4
Sevens, create demand for sports TV production. 3.6 4.0
The market for specialised sports television

production in the GCC is limited and not yet
saturated. Currently, the Saudi sports television 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
production market is dominated by Al Jazeera, a
well-known broadcasting network.
Other GCC countries provide a lucrative “The GCC market size is expected
opportunity for Qatar-based television production to grow from ~QAR 4 billion in
companies. However, this market is heavily 2016 to ~QAR 13 billion in 2025,
regulated and media restrictions in other countries
act as hindrances for Qatar-based companies to growing at a CAGR of ~15%”
enter the market.
Exhibit 4: Portfolio of sports TV channels in other
Global market GCC countries
KEY
Globally, the sports television market is saturated
High
Bubble size represents

with key players dominating the market. The U.S. no. of sports
beIN
broadcasted
Number of events
media and entertainment industry represents a

third of the global industry, the largest market OSN Sports
worldwide.
Abu Dhabi Sports
There is room for further investment in the sports
TV production market in parts of Africa and Asia, Dubai Sports
Al-Kass
where low levels of local sports content is being
Low
produced. Secondary Premium

Quality of events
Source: Arab Media Outlook 2011, company websites
“Sports programming accounts

for ~31% of the total television
production revenue in the U.S”
Source: The Media & Entertainment Industry in the United States SelectUSA 2014, IBISWorld
P.55
Industry overview: Qatar and other GCC countries
The market for sports television production in the region is not yet saturated, and presents
itself as a lucrative opportunity for potential investors
Supplier power
• Suppliers have a high bargaining power as production agencies need to purchase the
rights to produce event content from the rights owners. Rights owners of premium
international events (e.g. FIFA World Cup ™) have extremely high bargaining power and
they typically auction off and sell the rights to the highest bidder
• Television production firms are also highly dependent on production equipment
manufacturers and lessors for raw materials and new technologies
Threat of Barriers to entry

substitutes Industry rivalry
• Governmental, safety and
• The presence of • The global market for television
copyright regulations are
broadcasting firms production is fragmented, and
the standard
with in-house competition is high
requirements for
television production • The market is limited in Qatar specialized television
capabilities substitute and the GCC. This offers new production companies
the need of for opportunities for potential
• Television production
standalone television investors to enter the specialised
requires specialized and
production TV production market
skilled staff in addition to
companies
an array of technical
capabilities

• Buyers have low bargaining power as the • An increase in the number of events enables
number of specialised TV production agencies the growth in the need for television
in the region are limited. In addition, the rights production companies
to produce and broadcast sports events are • An increase in interest in watching sports
typically purchased from rights owners. events impacts the demand for sports
Depending on the exclusivity, quality and television production
importance of the event, buyer bargaining
power may increase
P.56
Investment
11

the opportunity by investing less than the 2 4
maximum required investment. For example, Investment
an investment of QAR 2 million would generate Exhibit 6: Investment breakdown based on
a NPV of ~QAR 6 million benchmarks (Illustrative)
• Maintenance
Investors with less capital may face hardships CapEx
equipment
Pre-operating expense • Cameras, sound and
in realising the return on investment for this light equipment
34%
opportunity.
66%
• Staff wages
• Marketing expense

television production opportunity in Qatar, its 24
revenues would increase from ~QAR 12 million +8%
20
22
in 2016 to ~QAR 24 million in 2025, growing at 16 16

a CAGR of 8%. However, investors with a lower 12 13
11 11
financial capability to invest or lower risk 10

Television production has a high revenue 2016 2017 2018 2019* 2020 2021 2022* 2023 2024 2025
variety when it comes to international and local *It has been assumed that FIFA and International Athletics Association mightt already
have contracts for TV productions
events. In fact, the 2022 FIFA World Cup ™ in
Qatar will witness the largest television Exhibit 8: Annual revenue vs. Start-up investment
(QAR million)
coverage, broadcasting the event worldwide.
However, limited opportunities exist for local Investment (QAR million)
Years
TV production houses due to the contracts that 2 4
international event organisers might already
2016 6 12
have with their TV production suppliers.
2022 8 16
2025 12 24
Total
78 156
(2016 – 2025)
P.57
Purchases represent the highest cost item for a COGS

Staff costs
TV production company, accounting for SG&A
around ~38% of the total cost. This includes 20.0%
purchases of direct materials used in the

television production process including film 38.0%
stock and supplies, projectors and copyrighted
material such as music, scripts and 11.0% Marketing
programming rights.
Typically, 62% of the total cost for a television
9.0%
production provider is selling, general and
Rent and utilities
administrative (SG&A) costs, out of which the
largest component is ‘Other SG&A’ (~23% of 23.0%
total cost). Other costs are directly related to Costs of goods sold Other SG&A
Purchases represents the
the payments made to sub-contracted firms majority of COGS
including auditing, legal, office and overhead
costs.
Exhibit 10: CapEx and OpEx intensity
Staff wages represent 20% of total cost, based
CapEx intensity: Medium
on industry benchmarks. However, industry
operators are integrating instant playback in • CapEx is primarily related to the purchasing of large
their production process, which saves time equipment including cameras, light & sound
while filming; and reduces staff costs. equipment, etc.
Advertising and marketing expenses comprise OpEx intensity: Medium

approximately 11% of the total cost, thus • Keeping labour cost and other payments made to sub-
exhibiting the need for television production contractors low will help maintain a moderate OpEx
companies to invest directly in advertising for intensity
their services. Rent is approximately 9% of
total cost.
(QAR millions)*
Earnings before Interest, Taxes, EBITDA% EBITDA
Depreciation, and Amortization 4.0
4
18
(EBITDA) 3.5
4
3 16
EBITDA is projected to reach QAR 4 million in 3.0
14
3 3
2025, with an EBITDA margin of 16%. This is 2.5
12
based on the cost structure and revenue 2.0 2
2 2
2
analysis for this opportunity. 1.5

2 10
8
1.0
6
0.5
4
0.0
-0.5 Due to initial start-up 2

investment
-1.0 -1 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

P.58
SPORT BUSINESS
OPPORTUNITIES FORUM
External Screens,
Signage and Wayfinding
P.59
Introduction
The opportunity encompasses the designing, manufacturing, installing and maintaining of
external screens, signage and wayfinding in Qatar and other GCC countries
Venue operations &
event services
maintenance
events
External screens, signage
and wayfinding

Opportunities exist for local investors to design, manufacture, install and maintain external screens and
wayfinding signs for developers, venue operators as well as event management and advertising agencies. This
opportunity falls under ‘event management & promotion’, defined as follows:
Marketing
Bidding Organisation Event delivery Legacy & re-use
& sales
activities such as event is accompanied marketing and sales includes the successfully
concept by entrepreneurial can ensure operations to completed, tangible
generation, risk with regards to maximum actually stage an assets should be
servicing of a bid, planning and attendance to an event. Depending reused and
preparation of financing. Typically, event. Event tickets on the type of event knowledge gained
bidding if the event is can be bundled being held, specific during event
documents and sanctioned, then with hospitality or technical skills and planning,
event planning. there is a need to travel deals to tangible equipment preparation and
purchase hosting encourage more and temporary delivery should be
rights. potential infrastructure are made use of for
customers. required. future events.
P.60
Introduction
An opportunity exists for Qatar-based companies to supply, install and
maintain external screens, signage and wayfinding signs to event
“The market for
management companies, developers and venue operators. external screens,
External screens and signage providers supply made-to-order synthetic signage and
textile products, featuring event branding, visuals and directional signage, wayfinding in
to be utilised on fences and other infrastructure. These companies also Qatar is expected
provide additional services such as mast fixing and accessories for signs
related to direction, information, shop front lettering, door & floor
to reach QAR 322
numbering and nameplates. million in 2025”
Growth in the event management, manufacturing and
construction markets in Qatar create opportunities for local
SMEs
Local players operating within the external screens, signage and
wayfinding segment already exist in Qatar and generate most of their
revenue from the advertising, manufacturing and event management
industries.
Qatar has a busy upcoming sports calendar with an average of seven major
sporting events organized by the Qatar Olympic Committee to be held “Qatar’s external
each month. Typically, event organisers contract a marketing and
branding agency to design and develop their advertising strategy. These
screens, signage
events will all require services from external screens, and signage and wayfinding
companies, which can be contracted through a marketing agency. Growth market is expected
in the advertising industry further provides additional demand for to grow at a CAGR
companies playing in this market.
of 10% between
In addition to events, the economic boom and growing construction
industry in Qatar provides additional opportunities for these companies.
2016 and 2025”
The growth in the non-residential construction industry will generate new
commercial spaces and storefronts. As a result, these new businesses will
require the services of external screens, signage and wayfinding suppliers.
Quality and technology used to manufacture and supply external screens,
signage and wayfinding signs vary depending on the requirements and
size of the project, with digital printing being a key component. Currently,
suppliers of high quality digitally printed external screens as well as digital
displays and signage are lacking in the local market.
The digital displays use high-resolution light-emitting diodes (LEDs)
instead of vinyl or plastic sheets. The industry is moving toward producing
more digital displays because they are more profitable than traditional
external screens and signage. For example, up to eight separate
advertising messages can be loaded into a computer that will then cycle
the images periodically on every digital display connected to the network.
P.61
Qatar market
The total market for external screens, signage and Exhibit 2: Qatar market size for sports related
wayfinding is expected to grow from ~QAR 161 external screens and signage opportunities
(QAR millions)
million in 2016 to ~QAR 322 million in 2025,
60
growing at a CAGR of 8%. Supply to sports related
venues and events is expected to grow from ~QAR 41 45 46 45
41 40 41
million in 2016 to ~QAR 60 million in 2022. The 34
38
31
industry is expected to continue expanding over the
next ten years as increased economic activity is
expected to boost industry performance.
Market drivers
The primary factors driving the demand in Qatar are: 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Sports infrastructure development: Qatar is

developing sports infrastructure for the 2022
Exhibit 3: Qatar market size for non-sports
FIFA World Cup ™. These new stadiums will
related market segments
need the services of external screens, signage (QAR millions)
and wayfinding suppliers
277
• Events: An increasing number of events in 253
+10%
Qatar will raise the demand for external screens, 209
230
signage and wayfinding. Qatar is planning to 173

190
158
hold a growing number of global and regional 131
144
120
sports events in the run up to the 2022 FIFA
World Cup ™
• Outdoor advertising industry: The billboard and
outdoor advertising industry has the most
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
significant influence on external screens,
signage and wayfinding suppliers. An increase
in demand for billboard and outdoor display Exhibit 4: New and upcoming sports venues
advertising will increase sales in the GCC
• Nonresidential construction: Increased
commercial construction translates to more
storefronts and other spaces for businesses to
occupy. Businesses moving into these spaces
will need signage and storefront wayfinding
Signage, external screen and wayfinding
manufacturers and service providers in Qatar
The external screens, signage and wayfinding
manufacturing industry in Qatar is fragmented with
a lot of SMEs players. Some of the local companies
are Auditoire,, Design2Print, Evergreen Signage,
Signmatec, and Signmax Trading.
P.62
Other GCC market

Qatar-based companies also have the potential Exhibit 5: Market size in other GCC countries
to expand to other GCC markets. The pathway to (QAR billions)
expansion includes options such as organic
2.5
growth, acquisitions, or joint ventures. 2.3
+9% 2.1
The market size for external screens and 1.9
wayfinding of other GCC countries is estimated 1.6
1.7
to be ~QAR 1.1 billion in 2016 and expected to 1.5

1.3
1.2
reach ~QAR 2.5 billion in 2025, growing at a 1.1
CAGR of 9%, including inflation. UAE and KSA
are the biggest markets in GCC.
UAE is the biggest market in the GCC and is
expected to reach ~QAR 373 million in 2016
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
(~32% of GCC). KSA is second biggest market in
the GCC with a forecasted size of ~QAR 303
million in 2016.
Growth in the construction industry and
increasing expenditure in advertising are the key
“Other GCC market size of ~QAR
growth drivers for external screens, signage and 1 billion in 2016 and high CAGR
wayfinding suppliers. The construction sector in of 9% provides additional
the GCC is expected to grow at a CAGR of ~7% opportunities for Qatar-based
between 2015-2020. Additionally, the
advertisement industry in the GCC is estimated companies”
to be ~QAR 20 billion in 2016, growing at a
CAGR of ~5%, thus increasing revenues for
external screens, signage and wayfinding Exhibit 6: Market segmentation of external screens
and signage industry in mature markets
manufacturers and suppliers.
Kuwait is the third biggest market in GCC
countries after KSA and UAE. It is expected to be
Communications
~QAR 223 million in 2016. Oman and Bahrain Restaurants 7%
are smaller market for external screens, signage
8% Other
and wayfinding manufacturing and installation Public transportation
26%
services with a total market size of ~QAR 101 8%
million in 2016.
Miscellaneous retailers 9%
Global market
The global external screens, signage and 11% 19%
wayfinding market is displaying growth trends Media and advertising
Amusements and
agencies 14%
in both emerging as well as mature markets. The miscellaneous services
Financial services,
global market is estimated to be ~QAR 87 billion insurance and real estate
in 2015.
P.63
External screens, signage and wayfinding signs manufacturers have low bargaining power
due to the fragmented nature of this industry
Supplier power
• Supplier market is fragmented resulting in lower supplier
bargaining power
• External screens, signage and wayfinding suppliers purchase
materials from numerous suppliers and concentrate orders
only when one supplier offers advantageous pricing

• External screens, signage Industry rivalry • Barriers to entry in this
and wayfinding industry are low. Its fairly
• Signage, external screens and
manufacturers and easy to start with a small
wayfinding manufacturing is
suppliers primarily signage company.
a fragmented market and is
provide services to However, breaking into
price competitive. However
outdoor advertising the digital external screens
opportunities exist in areas
industry who compete market requires investing
of digital and connected
with providers of other in significant
external screens and signage
forms of advertising like manufacturing capacity,
boards
television, radio, online employing highly skilled
and print advertising • Manufacturers compete on labor and incurring
quality in many ways substantial business
• Use of high definition including use of bright, long- development expenses
video boards for display lasting LEDs and offering • Customer loyalty to
sturdy, durable construction existing manufacturers
can make it difficult for
new firms to attract
customers

• Customers (such as event management, large • The billboard and outdoor advertising
outdoor advertising and government agencies) industry has a significant influence on this
have high bargaining power as compared to industry. An increase in demand for billboard
manufacturers due to limited product and outdoor display advertising will increase
differentiation sales of wayfinding signs and similar industry
products
• Growth in construction as well as event
management also create additional revenue
opportunities for external screens, signage
and wayfinding industry
P.64
Investment
4
1 5 11 23
the scenarios below: Investment = Start-up CapEx + (DSO/365)* operating costs for first year
1. An investment of ~QAR 11 million would Exhibit 8: Investment breakdown based on

CapEx • Printers
2. An investment of ~QAR 5 million would Pre-operating expense 18%
• Equipment
• Vehicles
• IT hardware
3. An investment of ~QAR 1 would generate a • Employee wages
NPV of ~QAR 1 million • Office lease
• Marketing 82%
Capital investment requirements in this • Initial purchases
industry vary greatly. Small/medium sign
manufacturers have a small product portfolio
and tend to focus on the supply of easy to Exhibit 9: Revenue (QAR millions)
design signs. On the contrary, sophisticated
Other GCC Qatar
manufacturers often have more extensive and
complex products offerings that require high
end equipment to produce. +11% 94
103
86
79
72
66
60
50
41 45
87 96
72 80
Revenue 55 60 66
If one company were to capture the full external

screens, signage and wayfinding manufacturing 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
and installation opportunity in Qatar and the
GCC, its revenues would increase from ~QAR Exhibit 10: Annual revenue vs. Start-up investment
(QAR million)
41 million in 2016 to ~QAR 103 million in 2025.
However, investors with a lower financial Investment (QAR million)
Years
capability to invest or lower risk appetite would 1 5 11 23
2016 2 9 21 41
2022 4 17 39 79
The opportunity is expected to expand to the
rest of the GCC region in 2019. This market is 2025 5 23 52 103
expected to account for ~10% of total company
Total
turnover. (2016 – 2025)
35 153 349 697
P.65
Typically, ~71% of the total cost for an external COGS

Other
screen, signage and wayfinding equipment SG&A
25%
manufacturer is cost of goods sold, the major
components of which are purchases of raw
material and labour costs. Purchases are
expected to account for ~43% of the costs, this 3% Rent & utilities
1%
includes plastics, aluminum, wire, sockets, Marketing
inks, LEDs, metal castings, electrical 71%

components, wood, veneers and other COGS
manufactured products from other firms.
Costs of goods sold
Labor costs also make up a large portion of a Purchases represents the
firm’s expenses. Much of the design, majority of COGS
followed by labour
component integration and wiring work are
handled manually. Furthermore, installation, Exhibit 12: CapEx and OpEx intensity
and in some cases maintenance, needs to be
CapEx intensity: Low
done manually. As a part of sales contracts,
firms are often responsible for the installation • External screens, signage and wayfinding is not a CapEx
and maintenance of the product. intensive industry, with CapEx focused on items such as
printers and installation equipment
Rent and utilities are around ~3% of the cost
whereas advertising and marketing expenses OpEx intensity: Medium
are ~1% of cost based on industry benchmarks. • Keeping labour costs low helps to maintain a moderate
OpEx intensity
Industry operators also incur a variety of other
costs, such as insurance, legal, research and
development and freight costs.
Depreciation, estimated to be between ~1-3% Exhibit 13: Projected EBITDA in 2016 to 2025
of revenue, is not a large part of industry (QAR millions)*
revenue, because most work in the industry is EBITDA% EBITDA
labor intensive rather than capital intensive.
Furthermore, billboard and sign 7.3
7.9
8 8
manufacturers are typically small and have 5.5 6.0 6.6
6 5.1 7
little property and equipment. 4 2.9 3.1 3.4 4.2
6
2
5
Earnings before Interest, Taxes, 0
4
-2
Depreciation, and Amortization 3
-4
(EBITDA) 2
-6 Due to start up
EBITDA is projected to reach ~QAR 8 million -8 investment 1
in 2025, with an EBITDA margin of ~8%. This -10 -9.5 0
is based on the cost structure and revenue 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
analysis for this opportunity.
P.66
SPORT BUSINESS
OPPORTUNITIES FORUM
Event Organisation & Planning
P.67
Introduction
Qatar has a pipeline of upcoming local and international sports events which generate
opportunities for local SME companies to provide event organisation & planning services
Venue operations &
event services
maintenance
events
Event organisation &
• Venue operations & maintenance: comprises of the activities necessary planning

One opportunity for potential investors in Qatar is the provision of event planning and organisation services.
This opportunity falls under the ‘event management and promotion’ area. Event management & promotion
opportunities can be classified into five parts:
Marketing Legacy
& sales & re-use
Qatar Sports Business Cluster • Flagship Business Plans October 2015
P.68
Introduction
A business opportunity exists for Qatar-based companies to provide event
organisation and planning services for upcoming sports and non-sports
events in Qatar and the rest of the GCC. As a key pillar of the event
management area of opportunity, the overall organisation and planning of
an event is responsible for budgeting, planning, coordinating and
delivering a successful event. The type of event, including the event size,
“Doha’s largest
profile, location and the experience of the organizing committee in hosting auditorium seats
events, determines the overall scope and scale of planning and delivery more people than
required. Generally, large mega events feature strong local organizing the largest
committees prefer to ‘in-sourcing’ of some of the key activities based on
in-house capabilities and capacities. Other activities are supported by an auditoria in
event management company. It is common in the region to outsource London, Paris, or
smaller events related to sports, entertainment and corporate to external Madrid”
agencies who take complete responsibility from planning to delivering the
event. Event management agencies typically have different capabilities
and offer different services around events.
Looking at Qatar, professional event management suppliers are central to
developing a sustainable events management industry, capable of
mobilizing spectators and shaping a “product” that is suitable for
broadcasting and wider marketing opportunities.
Opportunity exists for local SMEs to provide event planning &
organisation services to local, regional and premium events
Growth in the event management market in Qatar is supported by a strong
local, regional and international events plan for the coming years. Qatar
plans to host approximately 100 events throughout the 2015/2016 “Qatar’s event
calendar year, of which 60 events are international. Premium planning &
international events to be held in Qatar include the UCI Cycling World organisation
Championship 2016, the IAAF World Championship 2019 and the 2022
FIFA World CupTM.
market is expected
to increase from
Currently, the market for mid-sized events in Qatar is highly competitive
and saturated, however, the market for premium and mega-events is not ~QAR 659 million
yet mature and is dependent on a strong level of supplier and product in 2016 to ~QAR
differentiation. Local companies lack the level of sophistication required 1.4 billion in 2025”
to plan and organize mega-events, while international companies, which
have been increasing their local footprint in recent years, often overlook
the importance of catering to local preferences.
An increase in the demand for events has resulted in an increase in the
number of Qatari companies hiring highly qualified personnel in the field
of event planning and organisation. Collaborating with world renowned
companies and experience personnel will help expedite the learning curve
for locally-based companies and help them acquire skills which can be
used for future events.
P.69
Qatar market
The Qatari event organisation & planning market Exhibit 2: Qatar market size for sports
size is expected to increase from ~QAR 690 million opportunities (QAR millions)
in 2016 to reach ~QAR 1.7 billion in 2025. The sports
event organisation and planning is expected to grow +8%
from ~QAR 437 million in 2016 to reach ~QAR 894 1,179
million in 2025, growing at a CAGR of 8%. The 894
811
market size for sports events is primarily driven the 687 735
605
events being hosted by MCS, QOC, Aspire, SC, 437 407 462
371
national associations and federations..
Qatar will experience a peak in demand for sports
event organisation and planning services in 2019 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
(~QAR 687 million) due to the IAAF World Source: QOC, MCS, SC, ASPIRE, PwC analysis
Championship, in addition to a peak in 2022 (~QAR

1.2 billion) as a result of the FIFA World CupTM. Exhibit 3: Qatar market size for non-sports
In addition, Qatar’s focus on developing its MICE opportunities (QAR millions)
market, as outlined in the Qatar National Tourism
610
Sector Strategy 2030, will help boost demand for +10% 553
event organisation and planning services in the non- 502
453
411
sports segment. 372
306 338
278
Market drivers 252

• Sports events: Qatar provides a strong pipeline
of events planned in the coming years (e.g. over 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
100 events planned for 2015/2016, of which 60 Source: S&, IAPCO
are international)
• MICE tourism: Qatar is focusing on cementing
its role as a hub for hosting local, regional and
global MICE events. In the Middle East, MICE
tourists account for about $11 of every $100 that “According to the ICCA
tourists spend country and city
• Disposable income: Per capita disposable rankings, the number
income is expected to increase in 2015,
therefore, spending on sports events and others
of corporate events
will increase as consumers become wealthier held in Doha have
and spend more on discretionary services and increased by 40%
sources of entertainment. Qatar has the highest between 2011 and
disposable income per capita in the world
2014”
• Economic growth: Growth in the economy
results in a larger number of companies willing
to spend money on hosting events
P.70
Event planning and organisation providers in

Qatar
Exhibit 4: Other GCC market size (QAR billions)
Organisation of an event is typically done on
behalf of key stakeholders which own or have
acquired the rights to host an event. Key 24
22
suppliers in Qatar are a mix of locally-based (e.g. +10% 20
WRG, InfrontAspire, Oryx Events) and foreign- 18
17
based entities (e.g. Habegger, Think Beyond, 14
15
World Sport Group). Over the course of hosting 11
13
10
the Asian Games in 2006 and as a result of the
pressure to comply with the local pre-
qualification criteria, there has been a growing
number of international companies which have
established legal entities in Qatar, across all
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
segments of event management. The market also Source: S&, IAPCO
consists of multiple SMEs that are primarily
focused on small/ medium sized events such as
wedding.
“Other GCC market size of ~QAR
Other GCC market 10 billion in 2016 and high CAGR
The other GCC market size for event planning & of 10% provides additional
organisation is estimated to be around QAR 10
billion and is expected to increase to ~QAR 24 opportunities for Qatari
billion in 2025, growing at a CAGR of 10%, companies”
including inflation.
Qatar-based companies have the opportunity to
Global market
expand to other GCC markets through a variety
According to the International Congress and
of methods including organic growth,
Convention Association (ICCA), the worldwide
acquisitions or joint ventures.
number of congress meeting has increased by
The region is experiencing an increase in 3% between 2012 and 2014, from 11,156
disposable income as well as an increase in the meetings to 11,505.
number of premium international events being
held in the GCC.
In order to better equip themselves to host such
events, many GCC countries have set-up
technologically advanced meeting facilities that
can host sizable gatherings. For instance, the
square footage of Dubai’s largest indoor
exhibition center exceeds Hong Kong’s largest
indoor space by more than 40%. Additionally, at
its base configuration, Doha’s largest auditorium
seats more people than the largest auditoria in
London, Paris, or Madrid.
P.71
The degree of competitiveness within the event management industry is moderate, as the
market has not yet entered the mature stage of its life cycle
Supplier power
• When contracted with significant advance time, buyers
benefit from low supplier bargaining power. However, as
time gets shorter, the bargaining power of suppliers
increases dramatically, as the number of supplier willing
and capable of delivering under time pressure decreases
Barriers to entry
Threat of substitutes • Barriers to entry are
relatively low particularly
Industry rivalry in the marketing and
• A full substitute, however,
would only be in-housing • The middle market for event branding areas, where
operations by the event management is highly creativity and innovation
host or event organizer competitive and saturated, are a driving force
whilst for mega-events, the • In technical areas that are
pressure of public exposure “mission critical”, track
enables selected leading record and experience of
suppliers to differentiate and established suppliers is
maintain a strong level of highly valued by rights
differentiation, leading to holders, generating a
attractive profitability sense of loyalty and
gratitude that is difficult to
break for new entrants
• Switching costs are low
given that many events are
one-off transactions

• Buyers have a decreasing bargaining power as time • An increase in the number of sports or MICE
for contracting get shorter events to be held in a country increases the
• The decrease in buyers’ power is most pronounced need for event planning & organisation
when sourcing unique venues or premium services services
that requires long lead time for logistics and • The tourism industry offers activities and
installation, and which may be subject to capacity entertainment options that complement the
constraints for large volumes on short notice events management industry. This includes
museums, amusement parks, adventure
activities, restaurants, malls, etc. The
existence of such assets increase the length of
stay of tourists and maximize economic
benefits from any event
P.72
Investment
375
10

Exhibit 6: Investment breakdown
1. An investment of ~QAR 196 million would
CapEx • Offices
generate a NPV of ~QAR 375 million • Vehicles
• Furniture
2. An investment of ~QAR 20 million would 23%
• IT hardware
generate a NPV of ~QAR 38 million and software
3. If an investor is limited to an initial • Staff wages 77%
investment of ~QAR 5 million, the resulting • Marketing
• Insurance
NPV would be ~QAR 10 million • Legal costs and
government
approvals
Revenue Exhibit 7: Revenue (QAR millions)
If one company were to capture the full event

Other GCC
planning & organisation opportunity in Qatar Qatar 1,714
and the GCC, its revenues would increase from +11%
1,420
1,560
~QAR 659 million in 2016 to ~QAR 1.7 billion 1,171

1,286
1,066
in 2025. However, investors with a lower 971
726 801
financial capability to invest or lower risk 659
1,310 1,445
1,593
appetite would still experience significant 973 1,073 1,183

801 883
The opportunity is expected to expand to the 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
rest of the GCC region in 2019. This market is
Exhibit 8: Revenue vs. Investment (QAR million)
expected to account for ~9% of total company
turnover. Revenue (QAR million) based on investment level
Qatar’s relatively steady pipeline of upcoming Investment (QAR million)
sports events in addition to the growing GCC Years 5 19 194 387

MICE market further guarantee steady and 2016 9 32 330 659
increasing demand for event organisation &
2022 17 63 645 1,286
planning services. Thus, companies wishing to
grow in this field need to tap into the wide 2025 22 84 859 1,714
range of events being hosted in the GCC. Total
147 558 5,702 11,374
(2016 – 2025)
P.73
Typically, 21% of the total cost for an event COGS

Marketing
organisation and planning company is cost of SG&A
12%
goods sold. This often includes cost of raw 21%
materials, merchandise, food & beverage as Cost of good sold
well as the cost of renting audio-visual
equipment required to run the event. 20% Salaries
Staff wages, or salaries, constitute ~20% of the

total operating cost. Employees within this
field typically coordinate between 5%
stakeholders, advertise and market the event, Office lease
set-up and plan it in addition to providing 42%
health and security services, among others. Other SG&A
Marketing makes up around 12% of the total

operating cost for an event organisation &
planning company. Marketing is a crucial CapEx intensity : Low
aspect that guarantees large attendance at
events. Marketing is done across a number of • As a service-based opportunity, CapEx is low given that
the majority of the costs (salaries, permits, audio-
mediums including online, magazines, radio, visual equipment) are covered under operating costs
etc. The increasing use of social media as a
marketing tool has and will continue to reduce OpEx intensity : Medium
the time, cost and effort spent on marketing. • Moderate OpEx intensity due to the emergence of new
technologies making it easier to organize events.
Office lease represents ~5% of the total
Operating costs are focused on equipment rental, staff
operating cost, covering mainly office rent and wages, legal fees, insurance, etc.
cost of utilities.
Other SG&A is a large cost component, Exhibit 11: Projected EBITDA in 2016 to 2025
accounting for ~42% of the total cost. This (QAR millions)*
includes fees spent on acquiring government EBITDA%
approvals, legal fees, permits, alongside EBITDA
insurance and other administrative expenses. 200 9
152 8
150 139
126
Earnings before Interest, Taxes, 104 114 7
95
Depreciation, and Amortization 100
62 68
83
6
56
(EBITDA) 50 5
EBITDA is projected to reach QAR 152 million 0 4
-50
analysis for this opportunity. -100 1
-150 -136 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• For full opportunity, assuming 100% investment
P.74
SPORT BUSINESS
OPPORTUNITIES FORUM
Concessions
P.75
Introduction
Food and beverage concessions present a profitable opportunity for Qatar-based
companies wishing to provide services for planned sports venues in Qatar
Venue operations &
event services
maintenance
events
• Venue operations & maintenance: comprises of the activities necessary Concessions
Opportunities in event management & promotion opportunity
One opportunity for potential investors in Qatar is the provisioning of food and beverage concessions at
sports and sports-related venues. This also includes sports-themed restaurants in leisure places such as
malls, airports and conference centres. This opportunity falls under the ‘event management & promotion’
area, and operates specifically within ‘event delivery’. These opportunities can be classified into five parts, as
follows:
Marketing Legacy
& Sales & re-use
activities such as event is marketing and sales includes the successfully
concept generation, accompanied by can ensure operations to completed, tangible
servicing of a bid, entrepreneurial risk maximum actually stage an assets should be
preparation of with regards to attendance to an event. Depending reused and
bidding documents planning and event. Event tickets on the type of event knowledge gained
and event planning financing. Typically, can be bundled with being held, specific during event
if the event is hospitality or travel technical skills and planning, preparation
sanctioned, then deals to encourage tangible equipment and delivery should
there is a need to more potential and temporary be made use of for
purchase hosting customers infrastructure may future events to
rights be needed for ensure maximum
successful delivery knowledge
Qatar Sports Business Cluster • Flagship Business Plans
transfer October 2015
2
P.76
Introduction
A business opportunity exists for Qatar-based companies to provide food
and beverage concession services in Qatar sports venues. These “Food is the next
concessions constitute a vital part of the unique match day experience for biggest expense in
both audiences and event organisers; where spectators get to enjoy a
variety of local and international restaurants in the stadium. Food and Qatar after
beverage presence in stadiums is a source of attraction for fans, where transport and
fresh-made meals and drinks increase their excitement when cheering for communications”
their favourite teams/players.
Capability and capacity constraints in the Qatari market create

an opportunity for SMEs
Within the Middle East, Qatar is outpacing other nations in the sports
industry. Apart from having hosted various international sports events, “Dining out is the
Qatar is seeing the booming opportunity to uptake the sports industry lead biggest single
through hosting the 2022 FIFA World Cup. The country is currently
expanding its stadiums to be able to withstand the large capacity of
spend on food costs
spectators and to satisfy their needs. Sports events create a strong in Qatar, with an
opportunity for global fast-food and beverage chains to set up local and average spending
international restaurants in the venues, serving various types of cuisines. of ~QAR 2,800 per
Currently, the Qatari market for commercial operations including food month”
and beverage concessions is limited and is still evolving. These
concessions provide an additional revenue stream for the stadium
operators and currently few dedicated companies are present in this
market segment.
On the other hand, management of food and beverage concessions is
usually taken care of by an exclusive operator for the competition or the
venue, whereby the rights typically belong to the venue owner, the event
rights holder or the event organiser. In relation to the FIFA World Cup,
FIFA and its commercial affiliates will be the key spender to be
approached by local suppliers. The opportunity may require
new/currently operating companies collaborating with global fast food
chain providers and international restaurants to meet this demand.
The long-term rising health consciousness is increasing the opportunity to
introduce healthy food options which may require ‘healthy’ food additions
to the menus. In addition, the absence of theme-branded restaurants
provides opportunities for new entrepreneurs to invest their innovative
ideas in this market segment. This provides an opportunity for both local
and international Qatar-based companies to play an essential role in
providing various types of food and beverage services in stadiums to meet
the fast growing demand. This opportunity also compromises of online
delivery facilities for spectators and healthy sports enthusiasts allowing
them to order their food when seated and get their meals delivered to their
seats.
Source: Doha News, Ministry of Development Planning and Statistics, 2014
P.77
Qatar market
The food and beverage concessions market in Qatar Exhibit 2: Qatar market size for sports related
is in the developing stage and is expected to grow opportunities (QAR millions)
48
from QAR 18 million in 2016 to QAR 48 million in
2022, arriving to QAR 15 million in 2025.
Market drivers 28
30
24
18 19 18
16
• Disposable income: The fast growing disposable 15 15
income in GCC and in Qatar allows consumers

to spend more on purchasing food. In fact,
household disposable income is affected by
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
labour and unemployment growth; with an
unemployment rate of 0.2% and a gross national
income increase of 4% between 2013 and 2014, Exhibit 3: Sports related infrastructure assets in
Qatar is witnessing a growing demand for take- Qatar 11 32
out meals and drinks 7
• Attendance in stadiums: There is a focus on
4 4
increasing sports commercialization in order to 1
17 2
increase the stadium attendance 1
• Non-match day events: Alternative uses for the

15
venues on non-match days with catering
facilities open to service sports and non-sports
events, such as summer camps, corporate 2
meetings and concerts Sports Aspire Zone Others Total

stadiums Foundation
• Health consciousness: Qatar population is & complex
Stadiums Sports Medical Facility
becoming more conscious about its health and is
Complex Youth & cultural centre
beginning to follow healthy lifestyles. To fulfil
this demand, restaurants are focusing on
increasing the menu variety from healthy dishes
to fast food meals to meet the market demand Exhibit 4: Major players in Qatar’s foodservice
• Young population: The population of Qatar is sector
quite young and diverse. 41% of GCC population
is aged between 15 and 34 years, where Qatar
have the highest percentage in this age group
• Tourism: The foodservice sector is driven by
tourists intake in both business and leisure Qatar, the
trips. The number of visitors in Qatar rose to land of
restaurant
attain 14.4% between 2013 and 2014; a opportunities
promising number increasing dining out
consumption
Source Trading Economics 2014, BQ Magazine 2014, Qatar News Agency, The World Bank,
Al Masah capital Research, Doha News - April 2014, AaronAllen & Associates
P.78
GCC market
Exhibit 4: Country-wise Food Consumption
GCC has a booming economy with a young Growth 2014-2019F (in %)
multicultural population continuously inclined
towards food services. In fact, international quick
service chains and casual dining restaurants are
expanding tremendously in the whole region. Food
and beverage consumption is expected to grow at a 5.5%
4.8%
3.5% CAGR from 43.8 billion kgs in 2014 to 51.9
3.2% 3.1% 3.0%
billion kgs in 2019. 2.7%
Foodservice sector segmentation Qatar UAE Oman Kuwait Saudi Bahrain

Arabia
Source: Alpen Capital
The foodservice sector compromises of full service
restaurants, quick service restaurants, cafes and
lounges and bars (refer to Exhibit 5). “Qatar is expecting the highest
• Full service restaurants include fine dining food consumption growth in
restaurants offering premium food in luxury GCC, at a CAGR of 5.5%”
hotels (e.g. L’Entrecote, La Petite Maison); and
casual dining restaurants offering moderately
priced food in a casual atmosphere (e.g. Chili’s,
Exhibit 5: GCC Foodservice Sector
The Cheesecake Factory).
• Quick service restaurants include fast food chains GCC Foodservice Sector
offering low-cost fast meals (e.g. McDonald’s,

Burger King, KFC) Full Service Quick Service Cafes, Tea Bars
Lounges and Bars
Restaurants Restaurants and Bakery-Cafes
• Cafes, tea bars and bakery cafes have an

important presence in the GCC serving a variety Fine Casual
of food and non alcoholic beverages (e.g. Dining Dining
Starbucks, Paul)
• Lounges and bars serve alcoholic drinks and food
(e.g. Cavalli, Hard Rock Café).
Source: GCC Foodservice sector 2014, Al Masah Capital Limited
Major players in GCC
The major players in the foodservice industry in the Sports-themed restaurants
GCC operate retail, restaurants and catering Sports-themed restaurants are common in
businesses. The major players are: developed economies such as US and Europe,
• Kuwait Food Company offering meals and drinks named after famous
• Kout Food Group athletes and players. Sports venues in GCC and
• United Foodstuff Industries Group Company in Qatar could start implementing these
• Danah Al Safat Foodstuffs Company restaurants, thus attracting fans to the
• Herfy Food Services Company stadiums.
• Bahrain Family Leisure Company In the GCC, drinks suppliers such as Pepsi and
• Other privately held companies Coke, already implemented this strategy by
serving sodas with famous players names and
Source:: GCC Food Industry Report 2015, Alpen Capital,
GCC Foodservice Sector 2014, Al Masah Capital Limited
pictures to fast-food chains.
P.79
Industry overview: Qatar
There is an opportunity for Qatari companies to provide food and beverage concessions in
Qatar sports venues
Supplier power
• Supplier market is largely fragmented with a wide
variety of global raw material suppliers, food
suppliers and service providers
• In general terms, suppliers have low bargaining
power
Barriers to entry
Threat of substitutes Industry rivalry • Requirements set by
• External similar • The market for food and beverage Municipality of Food and
restaurant chains residing concessions is a fragmented Inspection limits the entry of
at proximity of the sport market, featuring relatively high some restaurants
venues, where spectators and growing competition
• Ratings set by responsible
get the chance to eat • High presence of alternative parties to evaluate restaurants
outside before entering service providers serving similar
• The long-term nature of the
the sports venues meals outside the venues; and of
contracts for venues retail
global and regional competitive
spaces limits the threat of new
food chains
entrants
• SMEs having a strong presence in
• The restrictions set in some
the market and provide different
contracts by specific food and
cuisines to the various nationalities
beverage chains principals,
living in Qatar
providing similar services
• Consolidation and expansion is
• Prohibition of alcohol in Qatar
happening through M&A. Private
would impact the revenue of
equity firms are investing heavily
some global food and beverage
in this sector
chains in venues

• Fans and spectators have a strong impact on food • Different use of the stadium purpose, which
and beverage chains. Without being able to bring involves incarnating catering facilities during
food from outside the stadiums, customers are general events, corporate meetings, summer
obliged to get their meals inside the venues camps and concerts
• Audience customer segmentation (based on
nationality, taste, food preference such as healthy
vs. fast food etc.) have a high impact on the menu
flexibility
• VIP sections are more focused on high-end catering
with less focus on prices; whereas normal sections
will be focused on value for money options that are
being offered by low/medium-end food chains
P.80
Investment
7
4
the opportunity by investing less than the 0.1 0.5 5 10
Exhibit 7: Investment breakdown based on
1. An investment of QAR 5 million would benchmarks (Illustrative)
CapEx • Interior
2. An investment of QAR 500,000, would Pre-operating expense
• Seating
• Kitchen
generate a NPV of ~QAR 4 million Working capital 24% 24% equipment
• Cutlery
3. If an investor is limited to an initial
• Staff wages
investment of ~QAR 100,000, the resulting • Restaurant lease
NPV would be ~QAR 2 million • Marketing 38%
of goods
Revenue 48

concessions opportunity in Qatar, its revenues 30
28
to ~QAR 48 million in 2022, to attain ~ QAR 15 18
15 16
19 18
15
million in 2025. However, investors with a
lower financial capability to invest or lower risk
revenue growth (refer to Exhibit 9). 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
The current revenue is based on variability of

events that are being organised at venue. Global Exhibit 9: Annual revenue vs. Start-up investment
fast food and international restaurant chains (QAR million)
will have a more diversified revenue base with a Investment (QAR million)
Years
stronger footprint in the sports venues. These 0.1 0.5 5 10
companies will be able to satisfy the spectators 2016 0.2 0.9 9 18
by allowing them to enjoy various meals and
drinks from different restaurants; intact by the 2022 0.5 2.4 24 48
seasonal trends and changes in the sports 2025 0.15 0.7 7 15
industry. Other services such as home delivery,
catering will help reduce dependencies on Total
2.3 12 115 230
(2016 – 2025)
events
P.81

SG&A
Typically, 62% of the total cost for a food and Highest cost is the
staff cost followed by
beverage company is selling, general and restaurant lease cost
administrative costs, out of which the largest
component is cost of staff.
Purchases represent the highest cost to the 38%
food and beverage industry out of the costs of
goods sold. Purchases mostly include smaller
types of equipment, office requirements, retail
products, consumables, food items, drinks and 62%
other miscellaneous items.
Staff wages represent 23% of SGA cost, based
on industry benchmarks. However, industry
operators are integrating food and beverage Costs of goods sold
restaurants and chains with scheduling Purchases represents the
majority of COGS
software and online delivery in order to reduce
this cost and keep industry services profitable. Exhibit 11: CapEx and Opex intensity
Advertising and marketing expenses are CapEx intensity: Medium
approximately 3% of SGA based on industry
benchmarks. Rent is approximately 12% of • CapEx is primarily related to start-up costs for
equipment and land
SGA.
OpEx intensity: Medium
• Keeping labour cost low will help maintain a moderate

OpEx intensity
(QAR millions)4
(EBITDA)
EBITDA%
EBITDA is projected to grow to QAR 7 million
EBITDA
in 2022 and reduce to QAR 2 million (EBITDA
margin of 14%) in 2025. This is based on the 7 7 14
13
6
current event pipeline and cost structure and 12
5
revenue analysis for this opportunity. 4
4 11
3 3 10
3 2 2 9
2 2 2
2 8
2
7
1
6
0 5
-1 4
3
-2
Due to initial start-up 2
-3 1
investment
-4 0
-4
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
For full opportunity, assuming 100% investment of investment
P.82
SPORT BUSINESS
OPPORTUNITIES FORUM
Sports Management,
Timing and Scoring
P.83
Introduction
The opportunity comprises of the leasing of sports event management, timing and scoring
systems and services in Qatar and other GCC countries
Venue operations &
event services
maintenance
events
Sports management,
timing & scoring
The increase in the number of sporting events planned to be held in Qatar presents an attractive opportunity
for potential investors to lease out sports management systems as well as timing and scoring equipment for
local, regional and global events. This opportunity falls under ‘event management & promotion’, defined as
follows:
Marketing
Bidding Organisation Event delivery Legacy & re-use
& sales
activities such as event is accompanied marketing and sales includes the successfully
concept by entrepreneurial can ensure operations to completed, tangible
generation, risk with regards to maximum actually stage an assets should be
servicing of a bid, planning and attendance to an event. Depending reused and
preparation of financing. Typically, event. Event tickets on the type of event knowledge gained
bidding if the event is can be bundled being held, specific during event
documents and sanctioned, then with hospitality or technical skills and planning,
event planning. there is a need to travel deals to tangible equipment preparation and
purchase hosting encourage more and temporary delivery should be
rights. potential infrastructure are made use of for
customers. required. future events.
P.84
Introduction
An opportunity exists for Qatar-based companies to provide sports
management systems as well as scoring and timing equipment to event
organizers. Qatar has a busy upcoming sports calendar, with an average of
seven major sporting events to be held each month. This has helped “Sports
position Qatar as a global sporting hub and as a result, Qatar has management,
developed a strong sports culture. A sports management system is timing and scoring
important for event organizers as it is used to manage key information on
people participating in the event. Hence, sports management systems
companies can
provide an integrated solution for the registration of athletes, volunteers, provide equipment
media representatives, etc. The database also has the capability to manage and services to
schedules, determine cumulated medal standings, in addition to identify major sports
competition background and venues. On the other hand, timing
equipment systems such as digital photo finish, integrated timing system events in Qatar
and RFID tags (to measure time to 1/10,00oth of the second) provide fully and across the
automatic time (FAT) as certified by the Olympics and athletics GCC”
organizations such as IAAF, etc. Scoring equipment is integrated with
timing systems to manage and publish competition results.
Capability and capacity constraints in the Qatari market create
an opportunity for SMEs
Sports management systems, and timing and scoring equipment are part
of a very niche market, of which few global manufacturers play a role in.
There are also no local manufacturers present in Qatar and the GCC who
could provide these niche professional systems and equipment that are “Qatar’s sports
required to manage mega-sports events management,
Locally, there is limited capacity available for the provision of highly timing and scoring
specialized equipment and services (e.g. timing & scoring, on-site
market is expected
communication, accreditations). A few local companies, such as Creative
Technologies, have partnered with global manufacturers to provide sports to grow at CAGR
management systems as well as timing and scoring equipment in Qatar. of ~8% between
Most local players have limited experience and accredited equipment that 2016 and 2025”
could be used to manage international sports events. Hence, they would
need to enter into a consortium/joint venture with an international player
to deliver professional services and equipment for timing and scoring to
event organizers. Based on their extensive knowledge, technical
capabilities and proven expertise, international companies will play a key
role in the development of this field locally.
In addition to local, regional and global sports events, opportunities also
exist for companies to provide less sophisticated equipment to the growing
education sector, in order to support their increasing demand for
managing school sports events. Separately, requirements including a high
level of technical expertise as well as manufacturing and R&D capabilities,
limits backward integration opportunities for local distributors.
P.85
Qatar market
The sports management, timing and scoring market Exhibit 2: Qatar market size1 for sports related
is expected to increase from ~QAR 38 million in 2016 management, timing & scoring opportunities
to ~QAR 78 million in 2025, whilst experiencing a (QAR millions)
peak of ~QAR 103 million in 2022, primarily driven +8%
by the FIFA World Cup. 103
Market drivers 71
78
60 64
The primary factors driving the demand in Qatar are: 53
38 35 40
• Sports events: Qatar is developing massive 32
sports infrastructure to meet growing demand

for the high number events planned to be held in
the coming few years. Local companies will earn 1 For2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
expected spend by Qatar on event sports management, timing and scoring equipment
revenue by providing sports management,
timing and scoring display systems to events
held in the country Exhibit 3: Examples of timing and scoring
equipment
• Sports academies and education institutes:
Growing number of sports academies and
educational institutes present opportunities for
timing and scoring equipment companies to
provide rental equipment and professional
services to them in order to measure the
performance of athletes being trained
• New technologies in timing and scoring
equipment: Timing and scoring equipment has
evolved significantly over the years. Nowadays,
an electronic starting pistol and integrated
quantum timing system are being used. This has
enabled timing of races to be calculated to the
one thousandth of a second. Major event
organizers now use wireless timing and scoring
equipment along with starting blocks with
pressure pads to detect false starts. Lasers, along
with an electronic signal to the timing console,
are used to record the time at the finish line. A
digital video camera is also used at the finish line
for photo-finish as a backup
Sports management, timing and scoring providers
in Qatar
There are limited providers of sports management,
timing and scoring equipment in Qatar. Most of the
local players partner with international companies
to supply equipment and services to event
organizers. The main local providers are Stadia
Sports and Creative Technologies.
P.86
Other GCC market

Qatar-based companies also have the potential Exhibit 4: Other GCC market size2 (QAR millions)
to expand to other GCC markets. The pathway to
expansion includes options such as organic
575
growth, acquisitions, or joint ventures. 525
+10% 479
The market for other GCC countries is estimated 436
to be ~QAR 249 million in 2016, increasing to 363
398
~QAR 575 million in 2025, growing at a CAGR of 302
331
276
10%, including inflation. KSA and UAE are the 249
biggest markets in the GCC.
The sports management system, timing and
scoring equipment rental market in KSA is
expected to reach ~QAR 148 million in 2016
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
(~52% of GCC). UAE is the second biggest
2 Sports related markets
market in GCC with forecasted size of ~QAR 80
million in 2016.
The education sector in GCC is expected to grow
at a CAGR of 3% between 2015-19 and the
“The market size for other GCC
student population is expected to be around ~12 countries of QAR 249 million in
million by end of 2017; an additional ~160,000 2016 and a high CAGR of 10%
students are expected to join schools annually provides additional
from 2014 to 2017 in the GCC. Abu Dhabi and
Dubai, are expected to add ~180 new private opportunities for Qatari
schools by 2020. The increase in number of companies”
educational institutes will result in more sports
related (school level) events that will generate
revenue opportunities for sports management,
timing and scoring equipment providers.
Kuwait is the fourth biggest market in the GCC
countries after KSA, UAE and Qatar. It is
expected to amount to ~QAR 34 million in 2016.
Oman and Bahrain are significantly smaller
markets for sports management, timing and
scoring equipment systems and services, with a
total market size of ~QAR 23 million in 2016.
Global market
The global sports management, timing and
scoring equipment and systems market is
displaying growth trends in both emerging as
well as mature markets. The global market is
estimated to be worth ~QAR 47 billion in 2014.
P.87
Supplier bargaining power is high as few international players provide sports event
management, timing and scoring equipment which is accredited by global sports
authorities and federations
Supplier power
• Due to the niche nature of the products, accredited
OEMs have a high bargaining power
• Market is consolidated, with a selected number of
players such as Omega and Swiss Timing which have
a high market share for premium event segments

• Recent developments in • Barriers to entry are high
RFID based integrated due to the limited number
timing system could Industry rivalry of global players who
potentially create a threat • The local market is already might have
for traditional timing and dominated by SMEs who relationships with local
scoring equipment have collaborated with companies
providers such as OMEGA international companies • High initial start-up
and Swiss Timing • These companies have long investment is required
term relationships with • Local specifications for
sports-related entities equipment need to be
used, and at times, the
equipment needs to be
accredited
• For supplying non-
professional events,
barriers to entry are low
due to reduced
specification requirements

• The bargaining power of international sports event • Construction of new schools in a growing
organizers is moderate, considering they control a education sector will drive the requirement
specific event. However, they are faced with a for organizing sports events and provide
limited number of suppliers who can provide high- timing and scoring equipment and related
quality services and accredited equipment services
• Schools and other education institutes have • The growth of the sports events market drives
relatively high bargaining power due to a larger demand for sports management, timing &
number of suppliers which are available to provide scoring systems
sports management services. Timing and scoring
equipment can be less sophisticated and require
less specifications compared to those required by
premium international events
P.88
Investment
The expected IRR for this opportunity is 22%. 9

1 2
1. An investment of ~QAR 30 million would Exhibit 6: Investment breakdown based on

CapEx • Warehouses
2. An investment of ~QAR 5 million would Pre-operating expense
• Equipment
21% • Vehicles
generate a NPV of ~2 million • Furniture
• IT hardware
3. An investment of QAR 3 million, would • Staff wages
generate a NPV of ~QAR 1 million • Office lease
79%
• Marketing
Sports management, timing and scoring is a
highly capital intensive market with 79% of
initial investment used to buy the equipment
and software that will be used to generate the Exhibit 7: Revenue (‘000)
revenue.
Other GCC Qatar
Revenue +4%
54
51
If one company were to capture the full sports 45 47 49
43
management, timing and scoring opportunity 38
35
41
32
in Qatar, its revenues would increase from
~QAR 38 million in 2016 to ~QAR 54 million in 42 44 46 48
37 39 40
2025. However, investors with a lower financial
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
The opportunity is expected to expand to the Exhibit 8: Annual revenue vs. Start-up investment
(QAR million)
rest of the GCC region in 2019. This market is
expected to account for ~11% of the total Investment (QAR million)
Years
company turnover. 3 5 30 61
To be successful in this industry, it is 2016 2 3 19 38
imperative that the company develop strong
2022 2 4 22 45
relationships & partnerships with sports
management, timing and scoring equipment 2025 3 4 27 54
and system manufacturers, that are accredited
Total
by global sports authorities such as the (2016 – 2025)
22 36 217 434
International Olympic Committee, IAAF, etc.
P.89

Marketing
Typically, 48% of the total cost for a sports COGS 4%
management, timing and scoring company is SG&A Salaries
cost of goods sold (COGS). Purchases 20%
comprise the largest component of COGS and
typically includes equipment purchases as well
48%
as sports management software. Purchase
costs are heavily influenced by the 12%
sophistication, type and quantity of the Office/land lease
equipment and systems demanded by the COGS

sports events. Since companies mainly Consists mainly 16%
purchase and then rent equipment to sports of equipment
purchases Other SG&A
events, depreciation represents a significant
additional cost to the industry.
Staff wages represent ~20% of total costs, Exhibit 10: CapEx and Opex intensity
based on industry benchmarks. However, they
are anticipated to increase in the coming years
as highly skilled resources are required to • Companies experience high levels of CapEx as a result
operate timing and scoring equipment. of the need to purchase sports management, timing &
scoring equipment required for leasing
The third highest cost is ‘Other SG&A’ which
mainly includes insurance, legal fees and book OpEx intensity: Medium
keeping expenses. • Keeping labour cost low will help maintain a moderate
OpEx intensity
Rent & utilities accounts for around ~12% of
total costs while advertising and marketing
expenses represent approximately ~4%.
(QAR millions)4
EBITDA% EBITDA
20 35
17 18
Earnings before Interest, Taxes, 16
16
15 30
14
12
(EBITDA) 11
12 25
10
EBITDA is projected to reach ~QAR 18 million 20

5
10
5
-5 -4 0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
P.90
SPORT BUSINESS
OPPORTUNITIES FORUM
Temporary Toilets
P.91
Introduction
Temporary toilets are a fundamental element for securing the appropriate quality
standards for the spectator experience
event services Sports commercialisation
Venue operations &
particularly at a young age, both from an elite (professional) sports as
maintenance
• Sports goods & equipment: refers to the entire process required to Sports development
events
• Venue operations & maintenance: comprises of the activities necessary Temporary Toilets

One opportunity for potential investors in Qatar is the rental of temporary toilets for events, construction
sites, and other industrial services. This opportunity falls under the ‘event management & promotion’ area,
defined as follows:
Bidding Organization Marketing & Sales Event Delivery Legacy & re-use
Bidding refers to Organisation of an Proper promotion, This activity Tangible assets

activities such as event is marketing and sales includes the should be reused
concept generation, accompanied by can ensure operations to and knowledge
servicing of a bid, entrepreneurial risk maximum actually stage an gained during event
preparation of with regards to attendance to an event. Depending on planning,
bidding documents planning and event. Event tickets the type of event preparation and
and event planning. financing. Typically, can be bundled with being held, specific delivery should be
if the event is hospitality or travel technical skills and made use of for
sanctioned, then deals to encourage tangible equipment future events to
there is a need to more potential and temporary ensure maximum
purchase hosting customers. infrastructure may knowledge transfer.
rights. be needed for
successful delivery.
P.92
Introduction
Rental of temporary toilets are a fundamental element for securing the
appropriate quality standards for the spectator experience. The toilet
rental industry is a localized market with limited opportunity to export
services. There are two main customer segments in the temporary toilet
industry: construction sites and events. The quality of toilets varies “Value is mainly
significantly depending on the type of segment. In the low-end segment, driven by the cost
rental of temporary toilets typically service the construction industry. In of staff, temporary
the high-end segments, suppliers are specialized on events. Events that
are staged in a venue not prepared to host a large number of spectators
infrastructure
(small stadium, green field location, or different type of event) require a for venues,
larger degree of temporary infrastructure and overlay compared to state- equipment and
of-the-art facilities dedicated to one sport and regular events. Portable overlay required”
toilets are also often used at remote construction sites; therefore, an
increase in construction activity leads to greater demand for temporary
infrastructure. Concert and event promoters host outdoor concerts, music
festival and recreational events. Due to the large number of attendees,
portable toilets are often needed to supplement stationary sanitary
facilities.
An increase in the number of upcoming events to be hosted in
Qatar, and a substantial growth in the construction industry
create an opportunity for Qatari SMEs
Qatar has a wealth of capabilities and assets that allow it to enter and
succeed in this market. The growth of the market will be supported by big “Qatar Tourism
international sports events in the coming years, such as the UCI Cycling Authority’s plan to
World Championship 2016, IAAF World Championship 2019 and the
FIFA World Cup 2022. Qatar also hosts recurring annual premier
expand the
international events in athletics (e.g. IAAF Diamond League), equestrian, national demand
motorsports and tennis (e.g. Qatar ExxonMobil Open). Qatar Tourism with over 100
Authority’s plan to expand the national demand with over 100 events events planned for
planned for 2015/2016, of which 60 are international, as well as Qatar’s
ambition to host many exhibitions, meetings, and concerts will result in an
2015/2016, of
increased demand for temporary toilets. which 60 are
The expected growth of the construction market in Qatar offers an international, will
appealing opportunity for the temporary toilet industry. Qatar's spending result in an
on infrastructure is expected to reach about QAR 546bn over the next increased demand
decade. These huge projects will include a ~QAR 72bn investment in
roads, ~QAR 145bn to be invested in railways, ~QAR 14bn to be invested for temporary
in stadiums, and ~QAR 29bn to be spent on a deep-water seaport. An toilets”
expected tens of thousands of hotel rooms is also expected to be built
along with a whole new city. The construction projects in the pipeline for
Qatar will necessitate the increased demand for temporary infrastructure
over the next ten years.
P.93
Qatar market
The temporary toilet market is a localized market. Exhibit 2: Qatar sports market size for temporary
The temporary toilet sector in Qatar is currently toilets (QAR millions)
developing and is expected to increase from ~QAR +7.2%
66
114 million in 2016 to ~QAR 365 million in 2025,
growing at a CAGR of 13%, including inflation. 43 45
38 41
Qatar is the third largest market in the GCC, 34
24 22 25
dominating around 12% of the market (Exhibit 4). 20
This is mainly due to the high spend and focus that

Qatar has been placing on sports & construction, in
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
line with the QNV 2030 and the Sports Sector
Strategy. Exhibit 3: Qatar non-sports market size for
temporary toilets (QAR millions)
Market drivers
The primary factors driving the demand in Qatar are: 320
+15.1% 278
• Entertainment: An increase in sporting events 209
242
182
due to Qatar’s focus on the sports industry as 137 158
119
well as being the host nation for FIFA World 90 104
Cup 2022. As Qatar focuses on developing itself
as a tourist spot for families, there will be an
increased number of entertainment events 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Construction: Qatar is the fastest growing

Exhibit 4: Estimated temporary toilet market
construction and infrastructure market in the share by country in GCC region in 2016
GCC region. In addition, ahead of the 2022 Qatar
FIFA World Cup and in line with the country's 12%
Bahrain
2030 vision and development plan, Qatar's Kuwait
spending on infrastructure is expected to reach 3% 2%
Oman KSA
about QAR 546bn¹ over the next decade 5% 40%
• Disposable income: Higher levels of disposable

income across the country will increase
consumer attendance at sporting events, music
festivals, concerts and other events 38%
Temporary toilet providers in Qatar UAE
Many of the local suppliers have partnerships with regional (GCC) & international manufacturers
(e.g. Nixon Hire’s partnership with Satellite Industries) of temporary infrastructure which they
then import and lease out to the local market. Suppliers in Qatar also look to increase their speed of
delivery by renting depots in the region to service it’s local customers (e.g. Space Fab’s depot in
Umm Salal Ali). Portable toilets have little product differentiation and are relatively cheap to
purchase. As a result, firms in the industry are required to compete on price to secure new clients.
Firms (e.g. Nixon Hire, KMA Trading, Space Fab) aim to bundle packages to key downstream
market such as construction and special event venues. This includes providing other services such
as temporary fencing, trailers, temporary housing, etc. Firms are also able to include other
guarantees on top of low prices to separate themselves from the competition. This includes
guaranteeing cleanliness, providing deodorizers and providing swift delivery and pickups.
Qatar Sports Business Cluster • Flagship Business Plans Source: BMI Report October 2015
P.94
Other GCC market

Qatar-based companies have very limited Exhibit 5: Other GCC market size* (QAR billions)
potential to export to the GCC market as the
temporary toilet rental industry is localized. 1,843
+12.0% 1,648
The GCC market is estimated to be ~QAR 665 1,473
million in 2016, growing at a CAGR of 8% 1,316
1,177
1,052
through to 2025. KSA and UAE are the biggest 941
841
markets in GCC. 665 752
The temporary toilet market in KSA is expected

to make up roughly 40% of the total GCC
market. KSA’s market size is driven mainly by
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
the construction industry.
*Includes both sports and non-sports related markets
UAE is the second biggest market in GCC with
market share of 38% in 2015. Oman is the third “Due to the nature of the
biggest (excluding Qatar) market in GCC with a
market share of 5% in 2015. temporary toilet rental industry,
Kuwait and Bahrain are both evolving markets the GCC market offers minimal
with a combined market share of 5% in 2015. to no opportunity for Qatar to
Due to the nature of the temporary toilet rental export it’s services and take
industry, the GCC market offers minimal to no advantage of the size and growth
opportunity for Qatar to export it’s services and of the remaining GCC countries. ”
take advantage of the size and growth of the
remaining GCC countries. The temporary toilet
rental industry is focused on servicing localized
demand through local companies.
Global market
There is a low level of globalization in the
temporary toilet rental industry. The industry
does not involve any international trade and
there is little exchange of information
internationally. Some industry products are
manufactured internationally and purchased by
local companies for rental, however, most
industry-specific demand is domestic.
P.95
Industry overview: Qatar and GCC
The market for temporary toilets presents opportunities for growth driven by the ramp up
in construction and events in Qatar
Supplier power
• The temporary toilet manufacturing supply base is
large and fragmented with a couple of multi-
national organizations and small regional and
local players. Therefore, suppliers have low
bargaining power compared to buyers
• Multiple manufacturers have a footprint in KSA
and UAE to meet local and regional demand
Barriers to entry
Industry rivalry
Threat of substitutes • Barriers to entry for the
• The market is large and portable toilet rental
• The threat of substitutes
fragmented, with SMEs industry are low and
for rental of temporary
dominating the local market. steady. HSSE Regulations
toilets is the construction
• Temporary toilets have little (e.g. QF Construction Site
of permanent toilets
product differentiation and Standards) exist on
• Backward integration of
are relatively cheap to construction sites to
grandstands and
purchase. As a result, firms in ensure cleanliness and
temporary infrastructure
the industry are required to availability of temporary
providers
compete on price to secure washrooms
new clients. Many firms in • Capital investment is also
the industry also provide low in the industry.
temporary fencing, trailers, Beyond the capital
holding tanks, showers and investment to purchase
temporary power to attract the toilets, a trailer and
business through the truck are needed to carry
bundling of multiple services the toilets to and from
locations

• Buyer generally are SMEs which provide temporary • Construction firms are the single largest
infrastructure for construction sites, events, market for portable toilet rentals due to the
concerts, and related activities need for restroom facilities on sites that do
• Buyers have medium to high bargaining power as not include toilets. Construction sites rent
the product differentiation is minimal therefore it portable toilets for builders, plumbers,
is easy to source the temporary toilets from administrative staff and other subcontractors
different vendors. that are on site
• The switching costs from one temporary toilet • Events are a key determinant of demand for
rental company to another are minimal the temporary toilet industry. Typically,
events which are not hosted in established
facilities require temporary infrastructure at
the minimum
P.96
Investment
21
The opportunity has an IRR of ~19%.
3 27 54
maximum required investment as detailed in Investment*
the scenarios below: * Investment = Start-up CapEx + pre-operating expenses + funds required until business is self-sustainable
Exhibit 5: Investment breakdown based on

1. An investment of QAR 27 million would benchmarks (Illustrative)
2. An investment of QAR 3 million would Pre-OpEx • Temporary toilets
generate a NPV of ~QAR 2 million 27.0% • Heavy duty trucks
• Pumping equipment
• Cleaning tools
• Staff wages 73.0%

• Rent
• Marketing CapEx
• Other admin
expenses

Revenue is expected to increase from ~QAR 36
million in 2016 to approximately QAR 79 +9.1%
million in 2025, for the full opportunity. This 90
79
number however is highly dependent on the 68 73
continuation of growth in the construction and 55 55

44
events industries. Revenue captured by the firm 36 34 37
is based on Qatar market due to limited
opportunity to rent/ lease temporary toilets to
another country from a Qatar-based office.
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Investors with a lower financial capability to
invest or lower risk appetite would still Exhibit 7: Annual revenue vs. start-up investment
(QAR thousands)
experience significant revenue growth (refer to
Exhibit 7). Investment (QAR millions)
Years
Temporary toilet providers have the 3 27 54
opportunity to increase and diversify their 2016 1 18 36
revenues by branching out to other temporary
infrastructure products and services such as 2022 4 45 90
showers, offices, fences, trailers, etc. This will 2025 4 40 79

help them differentiate their product portfolio
Total
and generate additional revenue and increase (2016 – 2025)
9 103 205
their market share.
P.97
The largest cost component for a temporary COGS
toilet provider is the cost of goods sold, SG&A Rent

representing around 56% of the operating 5.0% Purchases
costs according to benchmarks. COGS includes 20.0%
the cost of labour, chemical agents, pumps and
other related supplies.
The second largest cost is the admin costs, at Admin 38.0% 56%
around 38% of the total cost, which comprises
of the cost of product maintenance, insurance,
and storage costs.
Marketing and rent costs are minimal and 36.0%
represent 6% of the total operating costs. 1.0% Salaries
Marketing
The primary capital expenditure in the
industry is the purchase of portable toilets, Exhibit 9: CapEx and Opex intensity
which are leased to clients and must be
replaced periodically. Capital investment is CapEx intensity: High
also needed for transportation vehicles, such • CapEx is relatively high as the initial investment to
as heavy-duty trucks, pumping equipment and purchase portable toilets is the driver to start this
cleaning tools. business
OpEx intensity: Medium
• OpEx is medium as the cost of goods sold as well as

SG&A make up almost 75% of the total revenue on an
annual basis, based on benchmark companies
(QAR millions)*
(EBITDA)
EBITDA% EBITDA
EBITDA is projected to reach QAR 20 million
in 2025, with an EBITDA margin of 25%. This 25 23 25

20
18 20
15 14 14
11 15
10 9 8 9
10
5
5
0
Due to initial start-up investment

-5 0
-5
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
P.98
P.100

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All analysis and conclusions in this report are based on various

No representation or warranty, express or implied, is made as to

Economic Policies and Research Department

Temporary Staffing and Training 6

Sound and Stage Production 14

Temporary Grandstands and Platforms 22

Crew-wear & Uniforms 37

External Screens, Signage and Wayfinding 59

Event Organisation & Planning 67

Sports Management, Timing and Scoring 83

invite you to participate in these long-term • Investments in petrochemical,

Overall, Qatar’s key differentiating factors

business cycle: Pre-operation, start-up, • Qatar invests heavily on

Opportunities in event management and promotion

Opportunities exist for local SMEs to provide temporary staff

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Source: World bank, BMI

Other GCC market

full-time employees. Includes both sports and non-sports related markets

The UAE is the second biggest market in the

Global market 14.0%

The global staffing market in 2013 was worth an USA

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Threat of Barriers to entry

Buyer power Impact of complementary products

Sport Business Opportunities Forum • Flagship Business Cases October 2015

1. An investment of QAR 9 million would Exhibit 8: Investment breakdown based on

Exhibit 9: Revenue (QAR million)

Revenue Other GCC

Qatar and the GCC, its revenues would increase 66

from ~QAR 34 million in 2016 to ~QAR 88 55

provided. Larger firms generally have access to 2022 16 33 66

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Operating costs Exhibit 11: Operating costs

Typically, 85% of the total cost for a temporary COGS Marketing

sold, the largest component of which is cost of 11% Office lease

OpEx intensity: High

• High OpEx intensity is driven by wages paid to both

Earnings before Interest, Taxes,

* For full opportunity, assuming 100% investment of investment

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Opportunities in event management & promotion

Sport Business Opportunities Forum • Flagship Business Cases October 2015

• Time spent on leisure and sports: Sound and stage

rental companies and service providers National Powered

The biggest market of sound and stage production

Buyer power Impact of complementary products

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Revenue Exhibit 9: Revenue (QAR million)

2022 1.4 7 72 144

2025 1.6 8 81 163

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Operating costs Exhibit 10: Operating costs

Purchases represent the highest share of COGS

Advertising and marketing expenses are OpEx intensity: Medium

is based on the cost structure and revenue 25

analysis for this opportunity. 20 19

For full opportunity, assuming 100% investment of investment

Sport Business Opportunities Forum • Flagship Business Cases October 2015

Opportunities in event management & promotion

Marketing Event Legacy