The Russia 2018 FIFA World Cup wasn’t just the world’s most anticipated and watched sporting event; it was a successful ‘gamble’ for the host country in many levels
Football and Kicking Away Old Paradigms & Economic Stagnation
BY Jorge Reano
The Russia 2018 World Cup has ended on a high note, both as a successful sporting event which showcased athleticism, elegance, grit, national pride, team-work and selflessness on the pitch, as the players from 32 nations gave it their very best; and as an Economy booster for the host nation.
In the same vein, fans who traveled to Russia to support their national teams clashed with each other in a sea of multicolor joy and became part of a cultural soirée, where everyone came out enriched, in a deeper manner; while many, question the VAR implementation, as it steals away the essence of the game.
Indeed, the Russia 2018 FIFA World Cup wasn’t just the world’s most anticipated and watched sporting event; it was a successful ‘gamble’ for the host country in many levels.
As we had mentioned earlier (see: https://blog.exportportal.com/detail/100/russia-hosts-the-world-as-the-biggest-sporting-event-leaves-its-mark-the-2018-fifa-world-cup-economics-pride-trade-amp-a-vision-of-success) Russian President, Vladimir Putin accepted to invest approximately $10 Billion (US) because the projection of earnings for the country would be in the neighborhood of $30 Billion (US). In terms of pure numbers, it was a simple win-win situation.
However, it is in the ‘intangibles’ where perhaps the bigger win is already beginning to earn benefits for the host nation.
Most visitors/tourists/fans, whom visited Russia during the World Cup, experienced an atmosphere of extreme happiness; of a country which embraced the world, and was willing to share its culture and to thank its visitors. The fans were welcomed with open arms and the Russian people showed a passion and “warmth” for which they are not normally known.
And this has been one of the greatest wins for Russia. A new World Perspective of the country and of its people. It has become an excellent diplomatic tool which Russian President, Vladimir Putin may start wielding in the international scene.
And with that new view of Russia, new International Trade doors may be opened. The Russian Federation is quickly designing campaigns to formally build or strengthen commercial bonds with, initially, the 32 nations which participated in the World Cup. The infrastructure which was developed all around Russia to improve transportation of the incoming fans and visitors is now ready to increase a new flow of tourism and to help in both the domestic, as well as International Trade.
New convention centers, roads and transportation arteries, train stations and hotels will all become tools for a renovation of the economy and an open invitation for new world partners to invest and trade with a new Russia.
It seems the bet has already started to pay off. It will depend on how the internal political environment and the relations with the west (mainly Europe) may help or hinder what is shaping up to be a revival of Russia. The new visitors may become the new International Trade partners and ambassadors which could easily push Russia out of an Economic dive. With the exceptional organization of this World Cup, Russia has scored a huge goal as it presents itself anew to the world.