World Cup and the economy

As I’m watching the England vs Uruguay game, a question came to me: Does World Cup affect the economy?
World Cup, organised every 4 year by FIFA affects not only the economy of the hosting country but also of the economy of every country that is interest in football. 
The event attracts hundreds of millions viewers from all around the world. It has big sponsors such as Coca cola, Mc Donald, Adidas… this year it also has Sony.
Obviously, the hosting country has to invest a huge sum of investment in facilities, stadiums…in order to keep up with the amount of tourists coming during the event. this investment is expected to be paid back with profits through ticket sales, increase in tourism, … Most of the time, especially the world cup in 1996 in US , this didn’t happen. 
What about for other countries? Football is one of the most popular sports and appreciated by most. It is obvious that people will be to spend a little extra on beer tap at the pub and more food to snack up while watching the game. Even Tesco has reported a double in sales of TVs. It has been noted that the competition had already given businesses a £2bn boost as the nation supported Roy Hodgson’s team.
Each week that the team stays in the competition will mean another £200m in sales. However, if England is to lose tonight, chances are stores, bars and restaurants will miss out on ringing tills.
So as much as we love England team with the spirit of a football fan, the winning of the team actually plays a more important role than just the gain of a country pride. 

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Alisa L

About Alisa L

Alisa graduated in the Summer of 2014 and is no longer blogging for this site. Alisa, a student from Vietnam, blogged about her third year of BSc Financial Economics and her time as a Course Representative.

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