2018 FIFA World Cup to boost Russia’s GDP by $2.3bn to 3.2bn annually

The effects of hosting a successful FIFA World Cup event is beginning to impact positively on Russia economy

The long-term effect of the 2018 FIFA World Cup on Russia’s GDP after the tournament over the next five years will reach 150 billion to 210 billion rubles, approximately $2.3 billion to 3.2 billion per year, according to the report of the 2018 FIFA World Cup Russia Local Organizing Committee.

The 2018 World Cup matches were held from June 14 to July 15 in 11 Russian cities. The French national team won the tournament, the Russian team reached the quarterfinals for the first time in history.

“The cumulative impact of the World Cup on Russia’s GDP for 2013-2018 is 952 billion rubles ($14.5 billion), which is around 1% of the annual GDP,” the report said.

“The total contribution of the 2018 World Cup to the economy of each of the organizing regions was between 2% to 20% of the annual GDP value. The long-term annual effect of the 2018 World Cup on Russia’s GDP after the championship over the next 5 years will reach $2.3 billion -3.2 billion,” according to the report.

It is expected that around a third of the future effect of the 2018 World Cup will come from the development of tourism, while the bulk of the long-term impact will be achieved due to the catalyst effect on investment.

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