The World Cup is supposed to be an economic windfall. But 'you're seeing a number of headwinds' now
The U.S. was set to benefit from its broad offering of existing football mega-stadiums that could be adapted for soccer, a growing domestic fan base, and a new format that expanded the tournament to 48 teams from 32. That combination was meant to make it the biggest and most lucrative World Cup in the worldwide soccer governing body’s history.
A study by FIFA and the World Trade Organization published last year predicted the 39-day event would bring in 6.5 million fans and yield an overall $30.5 billion economic impact in the U.S. alone for just $11.1 billion in expenditures. A year ago, the tourism outlook also looked “promising,” according to the report.
“The influx of visitors will likely generate billions of dollars in economic activity, benefiting the hospitality, transportation, and retail sectors. Host city hotels anticipate record occupancy, and local businesses will benefit from increased visitor traffic,” the report read.
But with the tournament just over two months away, geopolitical shocks and immigration obstacles in the U.S. are threatening to discourage international visitors and potentially dim the World Cup’s initially rosy ambitions.
https://finance.yahoo.com/economy/articles/the-world-cup-is-supposed-to-be-an-economic-windfall-but-youre-seeing-a-number-of-headwinds-now-120000953.html
Everything Trump touches dies.
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