Contribution of the World Cup to the Russian Economy 1 Percent of GDP – 88 Billion Kuna

The total contribution of the World Cup to the Russian economy will amount to 867 billion rubles (almost 88 billion kuna), or one percent of GDP, of which 86 percent relates to investments and 14 percent to tourism, organizers announced on Wednesday.

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Russian analysts estimate that foreign fans arriving for the World Cup in 11 cities where matches were played spent about two billion dollars.

According to the Organizing Committee, nearly 2.9 million tickets were sold for the matches, and stadium occupancy was 98 percent.

The largest number of tickets purchased by foreigners were bought by citizens of the USA, totaling 88,825. In second place are Brazilians (72,512), and in third place – Colombians (65,234).

The international consulting company McKinsey estimates the foreign fans’ foreign exchange expenses at 1.9 billion dollars, while the card company Visa states that cardholders spent the most in Moscow, followed by St. Petersburg, Sochi, Kazan, and Yekaterinburg.

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In the souvenir sales sector, revenues in the host cities of the World Cup increased by 54 percent compared to the average, with growth achieved both in the quantity of items sold and in the average value of receipts.

The most sold souvenirs featured World Cup symbols, followed by traditional Russian memorabilia such as matryoshka dolls, known to us as babushkas, ushanka hats, souvenirs depicting the Kremlin and St. Basil’s Cathedral, and other symbols of Russia, including portraits of President Vladimir Putin.

Growth in the hotel segment was 16 percent, with Moscow leading as expected, with a price increase during the World Cup of 29 percent, followed by Samara (24 percent) and Rostov-on-Don (22 percent).

Analysts note that revenue growth would have been higher if the Russian government had not limited their “ceiling” due to fears of excessive price increases.

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Thus, in Moscow, five-star apartments could not exceed 650,000 rubles per day (about 66,000 kuna), while non-star accommodation was 6,970 rubles (about 700 kuna).

Revenues in bars and restaurants in cities where matches were played increased by six percent during the World Cup, and statisticians found that fans drank more than they ate, as beer was the most sought-after item, followed by what Russians call “beer snacks.” Beer, soft drinks, chips, and tobacco products were the most sought after in stores.

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In the official report of the Organizing Committee “Russia-2018,” presented in May, the total cost of the championship was estimated at 683 billion rubles (69 billion kuna).