Top News
World Cup offers short term economic boom to hosts, competing nations
Moscow, June 30 (IANS) So far the 2018 World Cup in Russia has been a success as fans from all around the World have enjoyed a football celebration which still has just over a fortnight left to run and which should being economic benefits, not just to the host nation, but to those taking part.
A report by Professor Francesc Rufas, an expert in the economy of football at the EAE Business School in Spain highlights the benefits for the host nation as “a short-term increase of 0.5 per cent in GDP, which comes thanks to the economic boost given by tourism and the construction of infrastructure”, reports Xinhua news agency.
This can be offset by rising prices with an average 1.2 per cent increase in inflation during the tournament as bars, hotels, airlines etc put their prices up to take advantage of the tens of thousands of extra visitors during the competition.
Host nations also have to beware of an increase in the deficit, which rose by $15,000 million in the case of Brazil 2014 and $12,000 million in South Africa four years earlier.
However, he believes a World Cup can still be profitable “when investment is directed at re-usable infrastructures and improvements in public transport and traffic,” (road, rail links etc), although these effects are seen clearer in countries where there is no corruption and all the money goes into the projects rather than into pockets.
Even just playing in a World Cup can have a positive effect on a country’s economy thanks to what Professor Rufas describes as the “euphoria effect,” and there can be a rise of up to 10-15 per cent in the purchase of certain items (such as new TV’s to watch games).
And of course when people are watching games, they tend to eat and drink, so there is also a 10-15 percent increase in the sales of certain kinds of food and drink.
That is accompanied by a 20-30 per cent rise in advertising revenue as producers look to take advantage of a short-term boom and sell their products to fans who not only want to watch their country play on a new TV, but to celebrate their triumphs with perhaps a beer or 3.
–IANS
pur/vm
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.