The Fifa World Cup 2018 has arrived with much fanfare. It is one of the greatest sporting extravaganzas and the world is likely to be glued to this tournament.
As Russia is hosting the football world cup this time round, it is an excellent opportunity for the Russian President Vladimir Putin to showcase his infrastructural achievements. The tournament is sure to have an impact on the Russian economy and infrastructural penetration. The million dollar question is can the Russian economy sustain the fillip that will be provided by this sporting spectacle.
It is estimated that the World Cup 2018 could have an impact of around $31 billion on the Russian economy and boost the country's GDP to somewhere between 1.6 trillion rubles ($26 billion) to 1.9 trillion rubles ($30.8 billion).
Infrastructure
Hosting a tournament like the Football World Cup requires a boost to the transportation system and also entails massive development of social infrastructure. About $638 billion has been sanctioned for this tournament by the Russian authorities. The tournament is spread over 11 Russian cities and the allotted fund has ensured significant infrastructural development of these cities. Around 100000 jobs have been created with 13000 people being involved in the construction and renovation of the 12 stadiums that will host the football matches. All of these are multipurpose stadiums and the infrastructural spending on these stadiums will be carried forward even after the World Cup ends.
Bu hikaye BUSINESS ECONOMICS dergisinin June 16 - 30, 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye BUSINESS ECONOMICS dergisinin June 16 - 30, 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Elections 2024: Illusion & Reality
Whenever there is an election, we find the politicians speaking in hyperboles – and possibly, 2024 Lok Sabha has reached a crest.
Government initiatives aim to bolster rubber cultivation and innovation
Rubber tree plantation has seen significant growth in India, thanks to robust government oversight and favorable weather conditions.
Macron speaks on Europe's economic fragility
Many heads of state often speak on topics over which they have little control or vested interest.
Indian industries stand to benefit in raising of tariff on Chinese imports to the US
A delicate balance of power and influence exists between the United States of America and China.
Chabahar Port Agreement: Part of India's strategic and economic vision for Central Asia and Europe
On May 13, India and Iran signed a 10-year contract to operate the Chabahar port in Iran.
It is quite incredible to see things of interest happen with the blessings of the divine trio
Swamiji once said, “The wind of divine grace is always blowing. You just need to spread your sail.
The battle for sustainability: Earth Day's message of 'Planet vs. Plastics
World Earth Day, observed annually on April 22 worldwide, commemorates contemporary environmental advancements and promotes awareness of the imperative to conserve Earth and its resources.
Mother Teresa International Award 2024: Celebrating Humanity and Service
The Mother Teresa International Award, a prestigious honor recognizing individuals dedicated to serving humanity, will host its 2024 ceremony in Dubai, United Arab Emirates.
Can India get out of the middle income trap?
In the mid-1980s, international financial institutions moved away from calling their member countries as poor and rich countries, or as developed and less developed countries.
How is India's falling household savings rate worrisome for its development?
There has been a sharp reduction in the household net financial savings rate in 2022-23, leading to an overall decline in the financial savings rate.
