EcoFootball: Russia Spends $14bn to Host 2018 World Cup

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Saturday, June 09, 2018 11.00PM / Proshare WebTV 

To host the 2018 World cup this year, Russia is spending an estimated $14bn which is about 883bn rubles. 

According to the Moscow Times bulk of the expenditure is on infrastructure which covers transportation($6.11bn) accommodation for all teams, officials &  guests ($680ml) and stadium construction ($3.45bn). 

Russia constructed, rehabilitated and expanded 12 stadia for the world cup namely; Luzhniki, Saint Petersburg, Fisht, Ekaterinburg Arena, Kazan Arena, Nizhny Novgorod, Rostov-on-Don, Samara Arena, Mordovia Arena, Volgograd, Spartak and Kaliningrad. 

The report states further that half of the official World Cup costs come from the federal budget, since Russia got the bid to host the mundial in 2010. 

Previous world cup hosts Brazil spent an estimated $13.3bn which also covered the construction of its stadia, provision of infrastructure and other related expenses including accommodation. 

The tournament is scheduled to begin on Wednesday June 14, 2018 with the final game to be played on Sunday July 15, 2018. 

President Vladimir Putin is the chief host of the event and leads his country to host the event after emerging from a recession. 

Sectors that should benefit from hosting the world cup in Russia include tourism, real estate and the services industry. 

Russia hosted the 2014 Winter Olympics in Sochi and it gulped an estimated $50bn which put it as the costliest sporting event to be hosted in the globe.

Proshare Nigeria Pvt. Ltd.


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