2014 World Cup Expected to Generate US$ 70 Billion of Economic Activity for Brazil
07/07/2011 15:02 - Portal Brasil
BRASILIA (6 July 2011) - The Brazilian Ministry of Sports has announced that the country's economy is forecasted to grow by over US$ 70 billion as a result of its hosting the 2014 FIFA World Cup, through private and public investment in infrastructure, heightened consumption, increased activity in the services sector and tax collection.
The 2014 World Cup is expected to generate over US$ 30 billion in direct taxes, US$ 10 billion in additional indirect taxes, and an increase in consumption of Brazilian goods and services by over US$ 3 billion for the period leading up to and during the 2014 World Cup. Approximately 600 thousand international visitors are expected to travel to Brazil, which could alone generate over US$ 2.5 billion for the Brazilian economy. In addition, approximately 3 million Brazilian tourists are expected to travel throughout the country, potentially generating an additional US$ 3.5 billion or more.
These figures were announced on July 5 by Ricardo Gomyde, special advisor to Brazil's Ministry of Sports, during the 2nd Legislative Forum of the Host Cities of the 2014 World Cup. The forum aims to mobilize legislation at the federal, state and municipal levels to discuss challenges, goals and strategies related to the World Cup.
According to Gomyde, the Ministry of Sports expects 332,000 permanent jobs and 381,000 temporary jobs to be created through 2014 as a result of World Cup preparations and Brazil's role as host. These preparations include an investment of over US$ 14.6 billion for improvements in Brazilian infrastructure, and over US$ 6.3 billion in the services sector.
To date, six of the twelve Brazilian host cities have held legislative forums in 2011: Brasilia, Fortaleza, Recife, Curitiba, Belo Horizonte and Manaus. The remaining six host cities will be visited by members of the forum by October 2011.