It’s not just Qatar’s football team that needs to improve before it hosts the 2022 World Cup – the Peninsula also needs to invest billions of dollars to ensure its infrastructure is up to scratch and this means future job opportunities within both banks and consultancies in the region.

Exactly how much Qatar needs to invest to ensure its cities can handle the rigours of hosting a World Cup remains open to debate. The FT initially put the figure at $20bn, but a report by Meed Insight in collaboration with the Qatar Financial Centre Authority suggests that $100bn will be spent on infrastructure projects over the next few years.

Around $3-4bn has been earmarked for the construction of nine new stadia – the more spectacular of which will be dismantled and sent to poorer countries after the event – and $35bn is to be put aside for overhauling its metro and overland rail network.

“Thanks to it growing liquefied natural gas export revenues, it has no shortage of cash with which to finance its ambitious capital investment programme,” said the Meed report.

There’s also no shortage of banks, developers and consultancies looking to benefit from the raft of new projects – from parks and roads to power plants – that will be tendered and awarded over the next decade.

“The initial uplift in business will be within the consultancy sector – whether that be Big Four, or construction and engineering specialists – and we’ve already spoken to one or two consultancy clients who are pushing ahead with hiring plans as a result of the decision,” says James Wakefield, regional director of infrastructure headhunters Cobalt Abu Dhabi.

“The banks in the region will also benefit, which will inspire many to increase their teams on the ground, while the international banks – which largely have their MENA project finance and advisory teams based in either London or Paris – are likely to increase their headcount as the infrastructure sector gets busier in Qatar and the GCC Region generally,” he adds.

Qatar’s World Cup could be a much needed shot in the arm for the regional project finance sector.

The value of project finance investments has been improving this year, but this is on the back of depressed 2009 levels. New figures from KIPCO Asset Management show that just project finance deals totalled just $20bn in 2009 – 50% down on 2008.