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Big deals for Russia thanks to World Cup 2018: USD2.5 - 2.5 billion/year in the next 5 years

Big deals for Russia thanks to World Cup 2018: USD2.5 - 2.5 billion/year in the next 5 years

Monday 02, 12 2019
Today (14/6), The 2018 FIFA World Cup will officially be opened in Russia. According to calculations by the Organizing Committee of World Cup 2018 of Russia, this quadrennial international football tournament is estimated to contribute 2.5 to 3.5 bil
Today (14/6), The 2018 FIFA World Cup will officially be opened in Russia. According to calculations by the Organizing Committee of World Cup 2018 of Russia, this quadrennial international football tournament is estimated to contribute 2.5 to 3.5 billion USD for the Russian economy each year in the next 5 years. This is a significant point in the context of Western sanctions.

More than half a million international tourists will come to Russia this year, leading to a 20% growth in tourism in 2019, according to the Association of Tour Operators. The Russian Ministry of Economic Development plans that foreign tourists will spend up to $ 1.6 billion this summer.

Big deals for Russia thanks to World Cup 2018: USD2.5 - 2.5 billion/year in the next 5 years

 
"Every businesses in Moscow want to have good sales in this year's World Cup," Maxim Zakharov, a restaurant manager, said. "We do not only raise prices, but also offer incentives for customers ".

The consulting firm - McKinsey shows that the impact of the World Cup on Russia's GDP will be larger than that of previous World Cups. However, the impacts are expected to be short-term.

Russian investments for the worldcup 2018

Russia has planned to spend more than $ 200 million to built stadiums served for the 2018 World Cup. So, in 11 cities the matches will have a completely new stadium or upgraded one at the same location. These stadiums will be convert into multipurpose pitches where people can come to play summer and winter sports in modern gymnasiums equipped with the latest comfort systems, or organize cultural events. ..

The history of the economy after hosting the worldcup

So far, all the countries hosting the World Cup have achieved high growth, except for Japan. Typically, after the 1994 World Cup hosted by the United States, US GDP increased by 1.4%. Four years later, France became the host country of the 1998 World Cup and WC also contributed 3% to GDP growth of this country. By 2006, Germany's GDP rose to 1.7% thanks to the hosting of the World Cup and in 2014 was Brazil

Brazil's sports and tourism ministry said the most anticipated soccer tournament generated a huge profit of $ 70 billion for the Brazilian economy in 2014. The main source of revenue comes from investments private and public investment in infrastructure, consumer goods, services and taxes related to the World Cup. In addition, the World Cup created 3.63 million jobs each time. This event will help Brazil attract a large number of tourists around 3.7 million people with an average spend per visitor is $ 2,488.
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