Euronews (July 20)
Spain’s economy looks set to receive a boost from its World Cup win. “FIFA pays the champion federation a record $50 million (€43.7m)… out of a $655 million (€572m) prize pool spread across the expanded 48-team tournament.” Though beneficial, the prize winnings and a surge in celebration spending are negligible at the macroeconomic level. Instead the real driver appears to be “exports, which grow five to six percentage points faster as the title acts as a global advertising campaign for the country’s goods and services.” A 2024 study suggests “winning the World Cup lifts a champion’s year-on-year GDP growth by at least 0.48% over the two quarters after the final, before the effect fades.”
Tags: 50 million, Advertising campaign, Celebration spending, Champion, Driver, Economy, Exports, FIFA, GDP growth, Macroeconomic, Prize winnings, Spain, Surge, World Cup
The Times of India (July 22)
“After a technical delay, all of India followed the most recent launch of Chandrayaan-2. “Just like the World Cup, people were glued to TV sets to watch the launch of India’s second moon mission” and Lok Sabha, India’s Parliament, “paused during the House debate on Monday afternoon” to recognize the successful launch.
Tags: Chandrayaan-2, India, Launch, Lok Sabha, Moon mission, Parliament, Successful, Technical delay, TV sets, World Cup
The Times of India (July 22)
Manufacturing
Tags: Chandrayaan-2, India, Launch, Lok Sabha, Moon mission, Parliament, Technical delay, TV sets, World Cup
LA Times (July 12)
“A visit from The Donald is the last thing England needs right now.” There’s a heat wave, wild fires, Britain’s loss in the World Cup, but most of all, it’s the ongoing turmoil over Britain’s departure from the European Union that will set the backdrop to the Descent of the Donald; an event which, for our embattled prime minister, Theresa May, must seem distinctly hellish.”
Tags: Brexit, England, EU, Heat wave, May, Ongoing turmoil, The Donald, Wild fires, World Cup
USA Today (August 4)
“The main non-athletic story line of the Rio Games has to be the utter folly of hosting these costly exercises in short-term gratification. Brazil is expected to spend as much as $20 billion on the Games, this after dropping $15 billion on the 2014 World Cup.” These excesses are “back-breaking” for host countries and the IOC should be ashamed of the “scarce money to be misspent” on the Games, money which is diverted from more pressing priorities.
Tags: Back-breaking, Brazil, Folly, Host, Host countries, IOC, Misspent, Olympics, Priorities, Rio, World Cup
Los Angeles Times (June 12)
When the World Cup concludes, “the problems that plagued Brazil’s hosting effort will remain…. Brazil will face major challenges in its transformation from one of the world’s most unequal societies into a thriving democracy.”
Financial Times (June 4)
Just as the World Cup is about to kick off in Brazil “the prestige sporting event has been tarnished by allegations of corruption at Fifa, world football’s governing body, over the choice of Qatar to host the 2022 competition.” But alleged bribes are hardly Fifa’s first red card. “Fifa is a body that has been mired in corruption allegations for so long – and which has been so lame in mending its shoddy governance – that it demands a complete overhaul.”
Tags: 2022, Allegations, Brazil, Corruption, FIFA, Football, Governance, Overhaul, Qatar, Soccer, World Cup
The Economist (September 28)
“Has Brazil blown it?” The nation had been flying high, with an economy barely impacted by the Lehman crash and the prestige of being selected to host the 2014 World Cup and 2016 Olympics. “Since then the country has come back down to earth with a bump. In 2012 the economy grew by 0.9%. Hundreds of thousands took to the streets in June in the biggest protests for a generation, complaining of high living costs, poor public services and the greed and corruption of politicians.” The Economist believes “Brazil is not doomed to flop,” especially if it makes progress in cutting “red tape, merging ministries and curbing public spending.”
Tags: Brazil, Economy, Lehman, Olympics, Politicians, Prestige, Protests, Public services, Public spending, Red tape, World Cup
Wall Street Journal (July 19)
They may have won the World Cup, but Japan’s women’s soccer team, “considered strong contenders for Olympic gold in London, had to squeeze into economy seats on a 12-hour flight to Europe this week, while members of the less successful men’s soccer team, enjoyed the plush amenities of business class further up the cabin.” Last year’s World Cup win raised “hopes that the surprise victory would change attitudes toward women playing the beautiful game in Japan,” but those hopes “appear to have been premature.”They may have won the World Cup, but Japan’s women’s soccer team, “considered strong contenders for Olympic gold in London, had to squeeze into economy seats on a 12-hour flight to Europe this week, while members of the less successful men’s soccer team, enjoyed the plush amenities of business class further up the cabin.” Last year’s World Cup win raised “hopes that the surprise victory would change attitudes toward women playing the beautiful game in Japan,” but those hopes “appear to have been premature.”
USA Today (July 30)
North American players sometimes get upset when facing criticism. They should “just give thanks that they don’t live in North Korea.” For failing to advance beyond the first round in the World Cup, the North Korean soccer team was humiliated publically for six hours. Their coach has been sent to do construction work and kicked out of the Workers’ Party. USA Today notes the irony. “They make him a blue collar guy, but won’t let him be in the Workers’ Party? Go figure.”
Tags: North Korea, World Cup
