Russian economy earns $14 billion out of 2018 FIFA World Cup

BusinessRussian economy earns $14 billion out of 2018 FIFA World Cup

Monitoring Desk: Russian economy earns $14 billion out of 2018 FIFA World Cup, reports RBK Television News.

While talking to RBK Television News, the Executive Director of the Association of Tour Operators of Russia, Maya Lomidze said that    Russian economy got injection of over 850 billion rubles ($13.54 billion) through 2018 FIFA World Cup.

   

According to her, Russia spent 683 billion rubles, or about $10.8 billion for arraignment of 2018 FIFA World Cup and return was higher than expenditures. She added that World Cup also created over 230,000 jobs for Russian youth.

It is pertinent to mention that Russia spent

$4.2 billion for construction of sports facilities and $3.6 billion for transportation infrastructure. The remaining balance was spent on operating costs and additional infrastructure. Roughly 220,000 jobs were created thanks to hosting the World Cup.

2018 FIFA World Cup was hosted by Russia from June 14 to July 15 and matches were played in 12 stadiums in 11 different cities.  The reach of World Cup was spread from western Russia (Kaliningrad) to Far Eastern Russia (Yekaterinburg and Kazan). As many as 9 stadiums were built specifically for the World Cup other 11 other were renovated.

According to Executive Director of the Association of Tour Operators of Russia, Maya Lomidze, over 5.7 million foreigners visited Russia during 2018 FIFA World Cup.

Meanwhile, the head of the Russian Federal Tourism Agency Oleg Safonov while talking to state run media said that figure of foreign tourists was over 5 million.

“Moscow saw the heaviest tourist flow of more than 2.7 million, while St. Petersburg received more than 600,000, and Sochi, more than 500,000. The growth of tourists visiting the World Cup host cities was from 19 percent in Moscow to 1.7 percent in Saransk, with the average growth of 74 percent,” claimed the head of the Russian Federal Tourism Agency Oleg Safonov.

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