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FIFA 2018 World Cup effect on Russia's GDP to reach $2.3-3.2 bln per year over 5 years

It is expected that about a third of the future effect of the tournament will come from the development of tourism

© Sergei Konkov/TASS

MOSCOW, October 16. /TASS/. The long-term effect of the 2018 World Cup on Russia's GDP after the tournament over the next five years will reach 150-210 bln rubles ($2.3-3.2 bln) per year, according to the report of the 2018 FIFA World Cup Russia Local Organizing Committee.

The 2018 World Cup matches were held from June 14 to July 15 in 11 Russian cities. The French national team won the tournament, the Russian team reached the quarterfinals for the first time in history.

"The cumulative impact of the World Cup on Russia's GDP for 2013-2018 is 952 bln rubles ($14.5 bln), which is around 1% of the annual GDP," the report said. "The total contribution of the 2018 World Cup to the economy of each of the organizing regions was 2-20% of the annual GDP value. The long-term annual effect of the 2018 World Cup on Russia's GDP after the championship over the next 5 years will reach 150-210 bln rubles ($2.3-3.2 bln)," according to the report.

It is expected that around a third of the future effect of the 2018 World Cup will come from the development of tourism, while the bulk of the long-term impact will be achieved due to the catalyst effect on investment.

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