World Cups are not only one of the biggest sporting spectacles on the planet but also one of the greatest drivers of economic growth in the host country, if utilised judiciously.
At the macro level, big-ticket tournaments like the FIFA World Cup provide at excellent opportunity for the host nations(s) to boost key sectors of the economy namely tourism, hospitality and infrastructure. Nations which already have a developed sporting infrastructure are well placed to make the most of the football fever.
But how much exactly does a World Cup benefit a nation? UK based credit brokers Money Pod have analysed the last four World Cups and arrived at the conclusion countries with already highly developed infrastructure were able to make a substantially bigger profit than the ones who had to build things from scratch.
According to Money Pod, the 2006 World Cup in Germany was the most profitable edition of this century with a reported cost of $6 billion for hosting the tournament resulting in an estimated economic impact of $14.1 billion, which works out an overall profit of $8.1 billion to the country.
According to the study, the German government’s tourism revenue rose by $400 million and 500,000 jobs were created in the lead-up to the tournament. The city of Cologne reported the number of visitors after the World Cup increased by 10 per cent.
The 2002 edition in South Korea and Japan came in second on profitability. The tournament cost $7.5 billion to host and resulted in an economic impact of $11.8 billion, resulting in a profit of $4.3 billion to the two nations.
The Arena da Amazonia is located in Manaus, Brazil pic.twitter.com/LdJ3y43aE0— Business Insider (@businessinsider) June 27, 2018
The 2010 South Africa World Cup was not so profitable. The African nation spent $4 billion in hosting the tournament, pouring money on building six new stadium and upgrading infrastructure. While an overall economic impact of $5.6 billion meant a profit of $1.6 billion to South Africa, there has been little positive impact on their footballing fortunes with Bafana Bafana failing to qualify for the 2018 World Cup in Russia.
The 2014 edition in Brazil was by far the most extravagant of this century. According to Money Pod, a staggering $14 billion was spent on hosting the World Cup and with an estimated economic impact of $13.4 billion, there was a loss of $670 million.
However, the bigger criticism of the Brazil World Cup is that after the tournament was over, some of the venues became deserted and saw hardly any matches held there with the Estadio Mane Garrincha in Brasilia converted into a bus depot.
Let’s see what Russia ends up with after dust settles on World Cup 2018.
Belgium dramatically recovered from going two goals to Japan to secure a last-gasp 3-2 victory and set up a World Cup quarter-final against Brazil.
Roberto Martinez’s side came so close to crashing out of the tournament in Rostov as they found themselves behind to second-half goals from Genki Haraguchi and Takashi Inui.
The so-called Belgian ‘Golden Generation’ then staged a remarkable comeback, responding with goals from Jan Vertonghen, Marouane Fellaini and, in added time, Nacer Chadli to demonstrate the extent of their significant attacking threat.
Watch all the goals in 3D animation form below!
1-0 to Japan: Haraguchi (48 mins)
2-0 to Japan: Inui (52 minutes)
2-1: Vertonghen gets one back…
2-2: Fellaini levels things up!
2-3: Chadli nets the winner!
Brazil booked a World Cup quarter-final place as Neymar turned on the style and Mexico waved goodbye to Russia.
The boiling heat of Samara – it was around 35 degrees Celsius at kick-off – was no place for the faint-hearted and Mexico hinted at an upset for much of an even first half.
But Neymar claimed his 57th international goal six minutes into the second period, before setting up substitute Roberto Firmino late on to complete brazil’s 2-0 win.
The opener was a well-crafted goal started by the latest wearer of the famous number 10 Brazil shirt.
Willian accepted his cute back-heel to sprint around Hugo Ayala and Neymar, continuing his run into the penalty area, slid home the Chelsea man’s cross from a few feet out.
A last-eight place was confirmed two minutes from time when Neymar broke down the left and set up Firmino, who had only been on the pitch a few moments, to apply the simplest of finishes.
The only downside for brazil was a yellow card for Casemiro, the influential midfielder’s second of the tournament and one which will rule him out of the quarter-final.
Watch the goals in 3D animation form below!