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The FIFA World Cup Will Cost Russia a Fortune
22.07.2011 13:44
The FIFA World Cup Will Cost Russia a Fortune

The cost of holding the 2018 FIFA Championship is estimated at 632bln RUB - almost 4 times more than the initial forecast predicted.


It should be noted that this gigantic figure includes all of the spending areas. The larger part (241bln) is assigned to roadworks: more roads are to be built, and others are to be reconstructed. This is followed by the building and/or reconstruction of football stadiums (123bln). 75bln RUB is assigned to the media and communication support, and another 46bln will go to provide the training and living facilities to the participants and the public.


The World Cup is planned to be held at 16 stadiums in 14 different cities across Russia, including Yekaterinburg, St. Petersburg, Kazan, Volgograd, Podolsk, Moscow, and a few more. The numbers, however, may scale down to 12 stadiums in  12 cities, as per intructions from FIFA.


Speaking of expenses, the head of the Ministry of Sport Tourism, Vitaly Mutko, underlined that only 299bln RUB were to be designated from the state budget. Still, this is twice as much as was initially predicted (140bln).


The Prime Minister Vladimir Putin, commenting last December on holding the World Cup in Russia, suggested that money would also come from the pockets of the famous Russian sport-savvy tycoons, like Roman Abramovich. At present, it is already expected that the regional powers and private investors will help finance the 2018 FIFA World Cup.


The 2014 Olympic Games' expenditure is currently estimated at 900bln RUB. One cannot help wondering how these expenses correlate with the notorious lack of state funds to pay salaries and pensions, for which Russia came to be known in the recent years. The hope is evidently that, it is not possible to get without giving. And since sport is one of the main articles that attracts a lot of interest and funding, it is understandable that Russia plans to capitalise on both the 2014 Sochi Olympics and the 2018 World Cup.



Author: Julia Shuvalova

Tags: Russian business Russian economy Russian tourism   

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