Welcome to this
month’s Law Update
The Sports and Events sector in the Middle East and North Africa grabs headlines and public interest, and from a regulatory perspective not only is it on a journey to align with international practise, but it is creating its own standards in the region. From an economic perspective the sector is adding significantly to the Gross Domestic Product (GDP) of nations across the region and has become a key contributor in the effort to diversify economies.
Today, this sector in our region has a reputation that is synonymous with world class sports and events, and it boasts an extensive calendar that continues to grow. There is significant appetite for sports and events entertainment, and a look around the region tells the story. For example, Saudi Arabia is making considerable strides and there is certainly more to come from the Kingdom. Around the region we have several marque sports competitions already being hosted, such as the Formula One in Bahrain, Qatar, Saudi Arabia and Abu Dhabi, combat sports such as UFC and boxing, and major golf, tennis, and cricket tournaments.
The region is also home to an established calendar of annual industry events, such as fashion, aviation, healthcare and technology. I believe on its current trajectory we have the fastest growing sports and events sector in the world.
For the industry to thrive it must be underpinned by a robust regulatory framework, and the process of staging and commercialising sports and events includes significant legislative understanding and advice.