REAPING FROM SPORTS TOURISM
It's apparent that major global events like the world cup are costly to stage & the benefits aren’t always easily quantifiable. Countries hosting a World Cup spend tens or even hundreds of billions on preparations; Qatar is understood to have spent in excess of $200bn on this World Cup and the magnificent infrastructure around it; state of the art stadia, hotels & leisure facilities, overhauling its entire road network and constructing a rail system. From ticket and merchandise sales to corporate sponsorship, prize money and TOURISM, there are immense amounts of money kicking around an event like this. Therefore, do host countries make money from the World Cup? This is subject to lots of debate but at least not in the short-term! On Tourism, it's sad to note that Hotel prices rise during sell-out events, but wages of service workers do not necessarily go up by the same amount, meaning the returns to capital are likely greater than those to labour. People with money make...
