FIFA World Cup reportedly boosted Russian economy by $14 billion
Organizers of the 2018 FIFA World Cup in Russia have claimed that the tournament has helped boost the country's economy by $14 billion. The amount is more than one percent of the nation's gross domestic product (GDP). The report was presented by the CEO of the World Cup organizing committee, Alexey Sorokin, at Doha in Qatar, the World Cup organizing country of 2022.
The 2018 FIFA World Cup was a grand success
The FIFA World Cup is the most followed football tournament of the planet, and all eyes were fixed upon Russia this summer. There were tensions brewing in the atmosphere regarding the political situation between Russia and the western countries, but none of them surfaced during the World Cup. During the conference, it was also announced that the tournament had helped to create 315,000 jobs.
A brief look at the budget of the World Cup
Almost $14.2 billion was spent in the World Cup, making it the most expensive football World Cup ever. From airports to hotels to the stadiums, all received upgrades, and it is believed that all this infrastructure creation helped the oil-dependent Russian economy. With 315,000 jobs created, tax revenues were boosted by 164 billion rubles ($2.5 billion).
Britain was in opposition of Russia hosting the World Cup
England's Prime Minister Theresa May had her reservations regarding Russia being selected as the host and said no members of the British government or Royal Family will be in attendance. Ex-British Foreign Secretary Boris Johnson had also compared Russia organizing World Cup to Nazi Germany hosting the 1936 Olympics. However, the tournament was considered a success and went by smoothly without any turmoil.
