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2:47
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10 September 2018 at 7:37 GMT
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Video / 12 June 2014 at 9:23 GMT

The World Cup: Crippling costs and an olympic problem

Owen Thomas
World Cup fever is gripping just about everyone in Brazil, reports Ben Tavener from Sao Paulo. When the first ball is kicked on Thursday, he says the controversy surrounding the preparations for the competition will be largely forgotten. But it has been a struggle to get here. And anti government protests, with people complaining about the huge cost of the games, have sometimes turned violent.
Eleven to 14 billion dollars – that’s a rough estimate as to how much the World Cup is costing Brazil, through stadium builds to infrastructure projects. The government’s convinced it’ll at least break even on its investment over time. But history tells us few, if any countries, make money from hosting an event like this.
And let’s not forget, in just two years’ time, Brazil will be hosting the Olympics. Another ten billion dollars have been earmarked for that. Even with that sort of spending, there’s deep concern about whether the country will be ready, and can afford another massive spending splurge.
Saxo Bank and TradingFloor.com have launched their own interactive publication based on the World Cup. We're putting a unique spin on the competition and we want you to use your knowledge and expertise to predict who'll win the World Cup of finance. Click here for more on that:
https://www.tradingfloor.com/publications/world-cup-2014?utm_source=TradingFloor.com&utm_medium=banner&utm_campaign=TF4_FeaturedArticle

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