2014 FIFA World Cup has kicked off last week, and I can feel the hype wherever I go (and read; and watch…)
Even for a non-soccer fan, the World Cup is one of the much-awaited events. Just ask small business owners. They might not be soccer fans, but they know that these days are the days to grab soccer fans’ attention by updating their storefront with World Cup-themed designs.
Big businesses? Ditto. Credit card companies are promoting World Cup-related credit cards. Major restaurants are launching get-together events for watching live matches. Sports stores are selling out World Cup-related products.
Let’s just say World Cup 2014 is good for the local economy. But what about Brazil itself? What’s the economic impact of the event on Brazil’s economy?
According to the infographic presented by WalletHub, the cost of hosting the 2014 World Cup is more than $11 billion. It’s hard to say whether Brazil will make more than the costs in general, but with 3.7 millions of tourists visiting all 12 World Cup sites in Brazil – along with the shared revenue from FIFA for TV rights, tickets and merchandizes – let’s just say it’s positively impacting Brazil’s economy.
What do you think?
