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Bloomberg: Russian Retailers will Benefit from the Foreign Fans
31.07.2018 17:00
Bloomberg: Russian Retailers will Benefit from the Foreign Fans

Consumer expenditures will grow by $ 5 billion in Russia in June-July because of the fans who come to the Football World Cup, as Bloomberg reports with a reference to the forecast of the Bank of America.

      Read More Articles on Doing Business in Russia

      In general, Russian retailers will benefit from the foreign fans: the largest networks reported an increase in the number of visitors by 45-63% in the first two weeks of the championship in the cities where the matches were held. Besides, thanks to the World Cup, the revenues of public catering establishments have risen dramatically: during the days of matches it grew by 30% in some establishments or twofold in other establishments, and the owner of Papa's Pub in Moscow reported about fourfold increase in revenue. However, the experts believe, the growth in expenditures will not have a great impact on the Russian economy: a positive effect of about 1 percentage point from monthly GDP will be visible between the second and third quarters.


Author: Anna Dorozhkina

Tags: Russian business FIFA Russia 2018 Legal Services in Russia   

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