World Cup expected to provide huge economic boost

Brazil's Ministry of Sports announced recently that the national economy has been forecasted to grow by over US$ 70 billion as a result of the 2014 FIFA World Cup.

The predicted boost will be due mainly to private and public investment in infrastructure, additional consumption, increased activity in the services sector, and tax revenues.

Around 600 thousand foreign visitors are expected to travel to Brazil during the tournament, which could generate over US$2.5bn for the economy. Furthermore, around three million Brazilians are expected to take holidays in connection with the month-long programme of matches, which could potentially generate US$3.5bn or more.

The Ministry of Sports expects the 2014 World Cup to create around 330,000 permanent jobs and 380,000 temporary positions – many of them resulting from the planned investments of US$14.6bn in improvements to Brazilian infrastructure (including the stadiums) and over US$6.3bn in the service sector.

The draw for the qualifying groups takes place in Rio de Janeiro on 30 July. Brazil's name will not be in the hat because as hosts they qualify automatically, but England, Scotland, Wales and Northern Ireland will be waiting to discover who their opponents will be during the European qualifying phase lasting from September 2012 to October 2013.

Visit the official website of the 2014 FIFA World Cup.

Source: Portal Brasil and Embassy of Brazil in London