Business and Societal impact of the FIFA World Cup on Brazil
In the next few weeks, Brazil will be hosting the 20th FIFA World Cup Football and the opportunity to show off its legendary samba style of football. In addition, 2016 will see Rio de Janeiro host the Olympic Games. A key question that can be asked is: 'how will Brazil benefit from hosting these major events?'
Join the NCCA for a rare opportunity to hear from Mr. Roger Frankel, Honorary Consul of Brazil and Professor Hans Westerbeek (Dean, College of Sport and Exercise Science, Victoria University) on the Business and Societal impact of Major Sporting Events on Brazil.
Mr. Frankel will kick the session off by elaborating on how Brazil became an emerging economy, the key drivers and how it aims to transition to a developed economy.
Following Mr. Frankel, Professor Hans Westerbeek will showcase what place sport, and in particular football, has in Brazil’s society.
Based on his work with the Brazilian Olympic Committee he will then draw a parallel between Brazil, other BRIC countries, Australia and The Netherlands, on how this impacts Brazil’s high performance sport systems.
Professor Westerbeek will conclude by speculating what Brazil’s current and future success in world sport will look like.
Brazil is also one of the world's most dynamic emerging economies and has been on the rise of the back of a commodity boom since the mid 1990s. Although the economy of Brazil recently showed stagnant signs, the World Cup Football will be used to capitalize on the spotlight. Brazil is spending an estimated $11.5 billion on new stadiums, transportation and airports.
Although economists don't expect Brazil's economy to get an immediate boost from hosting the 2014 World Cup, some say the long-term benefits will be 'priceless.'
Hosting major sporting events are considered to generate large economic and cultural spin-off effects. Countries like Brazil can be assured of a persistent increase in recognition, tourism, and economic investment.
Furthermore, it noted that Brazil's is set to host the 2016 Olympics in Rio de Janeiro, which should provide a "double whammy" effect for the country's economy.