He believes United's financial power and Champions League status makes them an attractive prospect for prospective signings this summer.
Asked how significant playing in Europe's premier club competition is for United, Giggs told Premier League Productions: "It's huge.
"Attracting players as well. Some players will choose clubs that are in the Champions League and holding on to some too. It's just huge.
"Eventually when we get crowds back Champions League nights at Old Trafford are special.
"Ole's beginning to mould a team which is exciting. He said there that they were running out of legs a little bit.
"After lockdown he's played the same team more or less which he had to because they're on such a good run so it was hard to chop and change.
"I agree with Tim [Sherwood] they need three players I would say that can go into the starting XI even to challenge for the league and the champions league next year."