Economic benefits for Russia from the world Cup will be short-term, according to the report of international rating Agency Moody’s Investors Service.
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“A significant part of the economic impact has already been felt through infrastructure investment, but even there the impact was limited. Associated with world Cup investments in 2013-2017 accounted for only 1% of the total investments,” the report says.
“The game will last only one month, and the related economic incentives pale in comparison with the size of the Russian economy at $1.3 trillion, says senior Vice-President and analyst at Moody’s Kristin Lindow. We do not expect that the championship will make a significant contribution to economic growth”.
However, in host cities has improved in the transport and utilities infrastructure.
Russian regions new infrastructure will provide additional tax revenues and reduce future capex, while the most significant benefit of Mordovia and in the Kaliningrad oblast. In contrast, the costs for the 2018 world Cup will have a negative impact on government funding in other regions, such as St. Petersburg and Samara oblast, and will increase the debt, said the Agency.
Russian food retailers and the hotel, the representatives of the telecommunications and transport sector will receive a temporary increase in revenue, but the impact will be instantaneous and will not lead to any significant changes in business fundamentals or credit profiles.
“Airports are among the main beneficiaries in the transport sector since the modernization of facilities will contribute to higher passenger traffic even after the event”, – noted in the review.
Construction companies also are the ones who will benefit the most from the 2018 world Cup, but they have already experienced the bulk of economic impact from the upcoming Championships.
World Cup 2018 will be held in Moscow, St. Petersburg, Kaliningrad, Samara, Yekaterinburg, Volgograd, Rostov-on-don, Kazan, Nizhny Novgorod, Sochi, Saransk. The beginning of the tournament in Russia on June 14, the final on July 15. Russia accepts the world championship for the first time.
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