Gulf Region: Messi, Money and Mega Events
Three years after Lionel Messi hoisted the FIFA World Cup trophy in Qatar with Argentina, the 37-year-old football icon is now lending his name to a Mastercard credit card in the Gulf state for the first time, in partnership with Doha Bank.
Written by Gérard Al-Fil, Dubai
The sponsorship market in the oil-rich region is seen as highly lucrative, though it remains a fiercely competitive arena.
Superstar Lionel Messi has been a Mastercard ambassador since 2018. Now, Doha Bank — the fourth-largest bank in gas-rich Qatar — is partnering with the Argentine icon for a co-branded credit card. On its website, the bank says the collaboration reflects the Gulf state’s immense enthusiasm for football.
Exclusive Perks
Messi, currently under contract with U.S. club Inter Miami, is reportedly being courted by his former club, FC Barcelona, for a potential return. Cardholders can benefit from exclusive perks, including the chance to win tickets to matches globally.
Local and foreign banks are happy to enter into deals with VIPs and events in the sports and cultural sectors, as both attract well-heeled locals, business travelers, and tourists from all over the world. After all, travelers to Dubai shouldn't just remember the inevitable white and red logo of the British bank HSBC at the airport.
Banks Are Going Full Throttle
Doha Bank and Mastercard present the new partnership (Image: provided)
Furthermore, thanks to its enormous liquefied natural gas reserves, Qatar's per capita economic output is 516 percent higher than the global average. A bank is happy to pay a superstar like Lionel Messi to attract new customers.
Saudi Arabia's Bank Albilad is a partner of the Formula 1 Grand Prix in Jeddah to support the restructuring of the Kingdom («away from oil»), in line with the government's Vision 2030 plan, as the bank says. The master plan attaches considerable importance to tourism.
Wealthy Clients With Roger Federer
J.P. Morgan has been sponsoring the Dubai Duty-Free Tennis Tournament for years, which was won last February by Stefanos Tsitsipas in the men's singles and by Mirra Andreeva in the WTA women's singles.
In a private foyer, the US investment bank entertains its wealthy clients in the Gulf Emirates, which Swiss tennis legend Roger Federer has called his second home for years.
The Art of the Sponsorship Deal
For example, the Swiss private bank Julius Baer, together with Geneva-based luxury watchmaker Piaget, will once again be partnering with the Art Dubai art fair, inviting the international art scene to the exclusive Madinat Jumeirah resort from April 18th to 20th.
British Standard Chartered Bank has been sponsoring the annual Dubai Marathon for years. At the end of this year, Abu Dhabi Commercial Bank will be once again on hand as a sponsor when the final Formula 1 race takes place in December on Yas Island near Abu Dhabi.
Villas, Yachts and Startups
According to real estate consultant Knight Frank, Dubai expects more than 10,000 new millionaires this year, representing a one-third increase in growth over the past year.
This would bring the number of dollar millionaires in the emirate to 205,000 by 2025, who prefer to invest in villas, yachts, and startups. In addition, there will be 1,500 ultra-high net worth individuals – those with $30 million in ‘savings’ – by the end of this year, compared to 1,300 five years ago.
