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Economic Effects of Hosting World Cup in Brazil - Admission/Application Essay Example

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This essay discusses the FIFA World cup 2014 that was held in Brazil, its impact on the country’s economy as well as making a comparison with the FIFA 2010 World Cup in South Africa. FIFA World Cup is a global event that can substantially improve the economy of the hosting country…
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Economic Effects of Hosting World Cup in Brazil
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Download file to see previous pages The host cities will be exempt from Value Added Tax. Other infrastructural projects that the government has initiated in preparation for the events includes road system and bus rapid transit that will connect the hosting cities with the airports, light rail as well as 4,300 km of highways. Additionally, the government aims at allocating $5 billion to build new hotels that will be used during the World Cup as well as during the Rio de Janeiro summer Olympics that will be held in 2016. Other changes that the government has put in place since the announcement that World Cup 2014 will be held in Brazil include adoption of an integrated security system. The government has set aside approximately $900 million that it will invest in facial recognition system and as well as unmanned security system that will secure the visitors against terror attacks among other security challenges. Effects of the FIFA 2014 world cup on Brazil economy With the expansive infrastructural system that the Brazilian government is establishing, the transport system of the country will significantly improve thus making it easier for the movement of goods and services. Additionally, the infrastructural system is one of the major fiscal policies that will increase the level of employment in the country. As the result of the high number of visitors who will either be spectators or officials, the country national demand for goods and services will significantly increase. This will not only trigger the industries to produce more products but also it will create more job opportunities for the young people. As the country demand increase, foreign domestic investment will increase as firms will be aimed at...
This essay presents a modern comprehensive analysis of the economic impacts of hosting of the FIFA World cup on the economy of Brazil. Holding of international sporting activities such as football, racing, and athletics provide ample opportunities through which countries can improve their image in reference to political stability, security, economic development and social progress all of which are vital in attracting new investors. One of the international sporting events that attract large number of players and spectators is FIFA World cup.
With $11 billion being allocated by the Brazil’s government to host the competition, the government has embarked on refurbishment and construction of stadium. The host cities were exempt from Value Added Tax. Other infrastructural projects that the government has initiated in preparation for the events includes road system and bus rapid transit that will connect the hosting cities with the airports, light rail as well as 4,300 km of highways. Additionally, the government aims at allocating $5 billion to build new hotels that will be used during the World Cup as well as during the Rio de Janeiro summer Olympics. Other changes that the government has put in place since the announcement that World Cup 2014 will be held in Brazil include adoption of an integrated security system
Despite generating reduced revenue than expected in South Africa, the FIFA 2010 World Cup resulted to enhanced economy of the country in the form of increased job opportunities and improved transport system.
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