FIFA World Cup 2018-Cost more than the GDP of 99 countries
But did you know how much FIFA world cup earns? Read the blog to know more!
The FIFA World Cup fever is soaring high among the spectators, since its start. The league that started on June 14th, 2018 will last until 15th July 2018.
Since 32 countries are running in the race to win the world cup, with Russia that ought to qualify as hosts, every day of the match will be worth watching.
One can’t deny the fact that just like IPL or cricket world cup, FIFA world cup steals the millions heart. The Football World Cup is the most watched, entertaining for FIFA buffs and known to be one of the most pricey sports events in the world.
Russia has spent 88 thousand crore rupees on hosting and is said to have the highest expenditure done than in the 1988’s World Cup history.
However, the official budget of the FIFA World Cup held in 2011, in Russia went up to approximately Rs.13, 140 crores. This budget was spent solely on the stadium.
But Russia has spent a total of 88 thousand crore rupees, including transport, security, and health, keeping the expenditure on the tourism, advertising costs add up at bay. If these extra events would have been included in the list, then this figure would have crossed Rs 1 Lakh, 43 thousand crores.
This amount very well more than 99 percent of GDP of 211 countries in the world. The step taken by Russia to spend such hefty money on hosting is because it did not have a much stronger base of football as compared to other developed European countries.
Russia will further showcase an advertisement of Rs. 25 thousand crores all through the period of two months in China. This will also affect their economy by benefiting 2.09 Lakhs crores in 10 years all because of FIFA world cup.
As far as this year’s FIFA world cup is concerned, some reports say that approximately 15 Lakhs foreign tourist will be visiting Russia to glance their favorite team playing. This will eventually increase the tourism rate up to 400% this year.
This much percentage is accepted, as even the expenditure made on FIFA would be Rs 1.43 Lakhs Crore, which is a big number. The amount estimated is expected to be more than the GDP of 99 countries.
During the World Cup and in the next month, various companies will spend Rs 25 thousand crores on advertising. The largest part of the ad will be available to the TV after this, and the advertisements will be found on the website and social media.
The highest investment of 5,630 million will be shown in China.
After this, about 2,700 crores will be spent on advertising in the US. Both US and China have not qualified for the World Cup. But here football is becoming increasingly popular. People here spend more on shopping. That is why the emphasis of companies is on these countries.
Host Russia will spend on 432 million advertisements.
As per reports from Moscow Times, Russia is said to have spent 88,000 crores on sports as well as on the infrastructure for organizing the World Cup. When going further in depth, then its 30%, i.e. 28, 000 crores expenditure has been spent on sports, 50%, i.e., 46,000 crores on transport-health-security and 20%, i.e., 14,000 crores on hotels and other support activities.
The economy will find its profit in the country in the long run. It is said that from 2013 to 2023, the economy will benefit and it will be 2.09 Lakh crore rupees.
Some of the other areas that have impacted due to FIFA world cup are:
- In Russia, around 2.22 million jobs have been said to be created due to FIFA World Cup 2018 preparations
- According to the economic experts, Russia’s economy will grow on high pace due to the investment that is done in the World Cup.
- Russia is supposed to welcome 1.5 million foreign tourists this year. As said tourism will rise up to 400%
- Apart from this, millions of football enthusiasts in the country will be visiting many cities to watch the match.
- Football fans coming from neighboring countries will spend a good amount to buy the tickets. The total amount is said to reach around 20,000 crores.
- According to stats provided by FIFA officials, Saturday’s FIFA tickets for the World Cup have been sold and the number of tickets sold was 1.20 Lakh tickets. The excitement is so much that all tickets were sold within an hour
- Organizers are hoping that Football fans will be spending their good time in Russia for an average of 12 days during the ongoing World Cup.
In 20 years, it has been estimated that the World Cup managerial costs have increased to six-fold. However, the current scenario says that FIFA World Cup 2018 will be the most expensive World Cup ever. Prior to this, FIFA world cup held in 2014 in Brazil was the most expensive. At that time, the host was Brazil that spent 79.5 thousand crores for entire FIFA world cup event.
Here’s complete scenario of this year’s FIFA world cup 2018:
- Russia has spent 88 thousand crores on the arrangement
- More than 28, 000 crores have been spent till now on stadiums and other sports-related chores
- Around 46, 000 crores have been spent health, transport, and security.
- Apart from this, 30,000 crore rupees have been spent on Advertising and Fashion.
- As far as sportswear, equipment, and fashion are concerned, 5,000 crores are spent.
- 15 Lakh tickets have been purchased by foreign spectators, excluding Russians who have purchased 8.7 million tickets.
- Also, 25,000 crore rupees have been spent on Tourism, Drinks, and foods.
This was the complete scenario about the ongoing FIFA world cup. To all FIFA fans, keep yourself tuned to TV and watch your favorite football playing and winning the match.