World Cup brings one trillion rubles to Russian economy - News from Russia

The Russian economy has received 952 billion rubles during five years of preparations for the World Cup that Russia hosted in the summer of 2018. In the next five years, the positive influence of the championship is expected to bring another trillion rubles.

Photo: Source: ru.fifa.com

World Cup brings one trillion rubles to Russian economy. 63046.jpeg

The total effect that the World Cup 2018 has shown on Russia's GDP for 2013-2018 was evaluated at 952 billion rubles (about 1% of GDP), a study conducted by the organising committee of the 2018 World Cup said. More than half of the total profit fell for 2017-2018, while GDP growth reached 0.4%.

The report indicates that Russia spent 688 billion rubles to organise and conduct the tournament. At the same time, 79% of the total effect (751 billion rubles) was received owing to the influence of investments and operating expenses.

The increase in GDP due to preparations for the World Cup in 2013-2018 created up to 315,000 jobs and increased tax revenues of the budget by 164 billion rubles.

Experts indicate that the aftermath of the 2018 World Cup is to bring about 150-200 billion rubles. annually during the period of five years.

The 2018 World Cup was held in Russia from June 14 to July 15, 2018. France won the tournament in the match vs. Croatia with the score 4:2.

After the end of the championship, the Russian national team climbed 24 positions up in FIFA rankings and took the 46th position.