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2014 World Cup May Generate $10.9 Billion for BrazilAugust 9, 2013 By: Newswire Travel Agent
The Brazilian Tourism Board (Embratur) reports that tourism for the 2014 World Cup will generate $10.9 billion for the 12 host cities of the games. This amount surpasses the public investments to prepare for the global event. This figure includes spending by Brazilian and domestic tourists, Embratur says.
On the local, state and federal level $9.5 billion has been invested in the infrastructure improvements to prepare for the event. This will generate a $1.4 billion gain for the economy of Brazil in just the 30 days of the event alone. In addition, the legacy of the improvements will last far beyond the World Cup. the agency says.
"It is important to emphasize that these are only the resources spent directly by tourists," says Embratur president Flavio Dino. "The total revenue generated will go far beyond this projection when one considers indirect impact: the restaurant will demand more vegetables, the vendor on the beach will purchase more ice, the hotel owner will order more beverages from the distributor" said Dino. "These are resources that go directly into the pocket of various sectors of the Brazilian economy".
The estimated revenue for the World Cup is equivalent to over 30 times the spending of tourists in World Youth Day (WYD). Embratur estimates that tourists who came to see Pope Francis added at least $ 660 million USD to Rio de Janeiro’s economy. At the Confederations Cup held in June of this year, it is estimated that tourists - Brazilians and foreign - spent about $321.79 million.