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The next edition of the Fifa World Cup that is going to be held in Brazil could result in boost the economy. By the Ministry of Sports estimates the actual number could be around $70 billion. This is based on the investments that will be made in infrastructure before the Fifa event as well as increased activity in other sectors such as tourism and markets.
The Fifa world cup has the potential to generate more than $30 billion in direct taxes and an additional $10 billion in indirect taxes. The increase in tourism for the quadrennial Fifa event will bring in around $2.5 billion and the associated sale of services and products will further generate a revenue of $3 billion.
The announcement was made by Ricardo Gomyde who is a special advisor to Brazil's Ministry of Sports. He also stated that job generation to the tune of 332,000 permanent jobs and 381,000 temporary jobs could be done for the build up to the Fifa event which will see entire new hotels, airports and 18 new stadiums.
Now it is time to see whether the hype surrounding the hosting of the world cup is worth the effort or not.
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