Support The Moscow Times!

Russia Received $15Bln Windfall From World Cup, Organizers Say

Sergei Kiselyov / Moskva News Agency

The 2018 football World Cup boosted the Russian economy by hundreds of billions of rubles, the tournament’s organizers said Monday.

Before the event, international analysts predicted that the summer global tournament held every four years would have limited economic impact in the country. Russia is estimated to have spent $11 billion on hosting the World Cup, according to official reports, while other reports suggested additional costs ran the bill to $14 billion.

Between 2013 and 2018, the World Cup brought 952 billion rubles ($14.5 billion) into the Russian economy, according to an organizing committee report obtained by Interfax.

“The impact is attributed to investments in infrastructure, tourist expenses during the tournament and other expenses in preparing for the championship,” Interfax quoted the report as saying.

The knock-on effect could bring up to 210 billion rubles of annual revenue in the next five years, the report said.

In the five-year run-up to the World Cup, 315,000 jobs were created every year and earned income grew by a total of 450 billion rubles. Small businesses also saw profits spike by almost 800 billion rubles.

Tourism development brought an estimated $3 billion into the economy, surpassing previous football tournaments in Brazil, South Africa and Japan but falling short of the 2006 World Cup in Germany, the Vedemosti business daily reported.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more