Lord Coe, one of the leading figures in international sport, believes the UAE is ready and able to stage an Olympic Games in the near future.
Speaking exclusively to The National from London ahead of the opening events in Rio de Janeiro, Brazil, he said the Emirates has the resources and the potential to mount a bid for the Games, but would have to overcome concerns about the climate in the Arabian Gulf to win the right to hold the event.
“The UAE has the ability to meet the infrastructural demands of hosting a Games in the future. It is a country whose sporting and national ambitions are clearly defined. A country that has shown that investment in sport and active lifestyle can have tangible benefits on health and well-being, and can support global nation-building objectives.
“Climate is clearly a factor and that would have to be planned around in partnership with the international sporting community, federations and governing bodies. But if the challenges of the sporting calendar could be navigated through, then the UAE could think about the potential of a Games,” he said.
Lord Coe was an Olympic gold medal winner in the 1980s, and he led the successful bid by London to hold the Games in the British capital in 2012. As the president of the International Association of Athletics Federations, he remains active at the heart of international sport. He is also the chairman of CSM Sports and Entertainment, a consultancy.
Lord Coe said that the Dubai Expo 2020 business fair also could be a springboard for an Olympic bid. “Expo is certainly comparable with a summer Olympic Games in terms of its operational and organisational complexity, and so in that respect it would be excellent preparation for a future Olympic bid.
“But clearly, in most other respects the events are very different, and present their own unique challenges. Expo will be an outstanding event and one that has already put the UAE even more firmly on the world map. It will cement UAE’s position and reputation as a forward-thinking, progressive and amazingly ambitious nation,” he said.
There has been speculation in the past that the UAE might mount a bid for the Games, but the country has never submitted a formal pitch. The next event for which it would be eligible is the 2028 Games. Bidding will begin in 2019, with a winner announced about two years later.
Lord Coe said that staging an Olympic Games would bring economic benefits for the successful host country, as was the case with the London Games.
“The economic benefits obviously depend on a myriad of factors, local circumstances, global factors and on the specific objectives for each Games. London 2012 showed that the Olympic Games can drive genuine socio-economic benefit and achieve lasting legacy.
“In London, the Games contributed to both regional and national economic benefits. A UK trade and investment department report showed that the UK economy saw a £9.9 billion [Dh47.55bn] boost in trade and investment from hosting the 2012 Games,” he added.
“There will be a need for new infrastructure and facilities to be built, but this catalyst for development is one of the huge benefits of a Games. Culturally, the UAE has embraced sport and entertainment, and that is hugely important,” he said.
“The success of events like the Formula One Etihad Airways Abu Dhabi Grand Prix and the Fifa Under 17s World Cup UAE 2013 have shown that the UAE has the ability and experience to stage complex, international sports events on a grand scale,” Lord Coe added.
“The country has all the conditions required to be a successful host nation.”
fkane@thenational.ae
Follow The National's Business section on Twitter
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
Student Of The Year 2
Director: Punit Malhotra
Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal
1.5 stars
The specs
Engine: 2.0-litre 4-cyl, 48V hybrid
Transmission: eight-speed automatic
Power: 325bhp
Torque: 450Nm
Price: Dh289,000
WORLD CUP FINAL
England v South Africa
Yokohama International Stadium, Tokyo
Saturday, kick-off 1pm (UAE)
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
Specs%3A%202024%20McLaren%20Artura%20Spider
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%203.0-litre%20twin-turbo%20V6%20and%20electric%20motor%3Cbr%3E%3Cstrong%3EMax%20power%3A%3C%2Fstrong%3E%20700hp%20at%207%2C500rpm%3Cbr%3E%3Cstrong%3EMax%20torque%3A%3C%2Fstrong%3E%20720Nm%20at%202%2C250rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Eight-speed%20dual-clutch%20auto%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%203.0sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%20%3C%2Fstrong%3E330kph%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1.14%20million%20(%24311%2C000)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions