World Cup to generate $27.7 billion and 47,900 jobs in the tourist sector in Brazil

The 2014 soccer World Cup will generate 62.1 billion reais ($27.7 billion), according to the Brazillian government’s forecasts. The revenues will be three times more than the Confederations Cup tourney which

happened in the last year and will definitely give the country’s economy a massive boost.

The Confederations Cup generated 20.7 billion reais ($9.2 billion), held in 2013 of which $4.9 billion came from spending by tourists, the organizing committee and both private and public investment. The remaining $4.32 billion corresponds to the contribution to Brazil’s GDP from goods and services surrounding the tourney.

The world cup 2014 will create 47,900 jobs in the tourist sector points a report of the National Business Confederation of Goods, Services and Tourism, or CNC. It is estimated that 3.6 million tourists will be traveling around Brazil during the competition according to the estimation made by the CNC.

The CNC will increase activities such as hostelry, food, transportation, travel agencies, cultural and recreations services, to handle the strong tourist inflow in the states that will host the World Cup.

With Sao Paulo and Rio de Janeiro hosting the opening and closing of the matches of the World Cup, these two places will enjoy 52 per cent of the job openings.