Impact of world cup on GDP in Brazil1.0 Terms of reference This report due on 11th April 2014 is prepared for the economics department by Leonardo Gonzalez. The report is an analysis of the impact of World cup on Brazil’s economic performance by focusing GDP before and after hosting the world cup. The information analyzed is based on data collected on various aspects contributing to GDP in Brazil. The findings analyzed on the report are based on strengths, weaknesses, opportunities and threats anticipated in Brazil as a result of the world cup.
The report provides an analysis of the economic performance of Brazil due to the activities arise and thus provides the recommendations that are appropriate in ensuring that Brazil maximize on the opportunity of hosting the world cup so that their GDP is affected positively. Brazil will reap both direct and indirect benefits some of which are short term and other are long term. 2.0 Procedure The report is based on information gathered through primary and secondary data, though minimal attention was given to primary data collection methods due to the lengthy procedures involved.
However, few individuals participating directly in planning for the world cup were interviewed and gave their own views on how the GDP in Brazil will be affected by the world cup. Most of the information was gathered from secondary sources providing insights about the economic performance of Brazil and also containing projections about the impact of hosting the world cup and anticipated economic benefits arising from the world cup. Information in the internet, economic journal, article and newspaper has been adequate in providing a basis for the information contained in the journal.
The secondary sources used to source the information are contained in the list of references. The primary information provided has been used to clarify the economic opportunities expected to arise in Brazil due to the world cup and thus, directing on their economic impact which are identified through the GDP analysis. 2. 1 Introduction According to Porter & Kramer (2011), the world cup is a football tournament held after every four years; it is organized by the FIFA and brings together many nations. The teams play in groups made according to geographical placement of the nations where nations are eliminated till the final winner is established.
The world cup brings together many individuals from various parts of the world some who are players, spectators, sponsors and others who come for investment purpose since many opportunities are created. Nations get the privilege of hosting this global activity and thus it has varied impacts on the economic performance of the hosting country which is reflected on its GDP. If a nation is not keen on the benefits it can draw from such an opportunity it can register a decline in their economic performance thus affecting their GDP since world cup can also be distracter in the nation so that individuals in a nation fail to concentrate on economically viable activities during the period the world cup is taking place or before due to the excitement that come when individuals know that their nation has been granted the privilege.
Brazil will be hosting the 2014 world cup which has potential impacts on the nation’s GDP before and after the world cup as outlined in this report.