The World Trade Organization has released a report stating that the upcoming FIFA World Cup is projected to inject approximately $41 billion into the US economy. Additionally, this year`s Club World Cup is expected to contribute another roughly $10 billion.
Sports play a significant role in the US economy, and despite football (soccer) having relatively less widespread enthusiasm compared to other sports in the country, this very sport is poised to add a substantial amount of money to America`s economy.
According to the World Trade Organization report, the FIFA World Cup, to be held next year, alone will add $40.9 billion to the United States` GDP.
The United States will co-host the next FIFA World Cup with Canada and Mexico. The World Trade Organization has already published various studies regarding the World Cup. One of their reports indicates that 6.5 million visitors are expected to enter the United States in the lead-up to the "Greatest Show on Earth."
Beyond the financial benefits, a social benefit of $8.2 billion is also anticipated through the World Cup.
The report suggests that the World Cup will create a total of 824,000 jobs across the United States and its co-hosting nations. Of these, 185,000 full-time job opportunities are expected in the US alone, with a gross output projected at $30.5 billion and an impact of $17.2 billion on the GDP.
In addition to the FIFA World Cup, the Club World Cup will be held in the United States in June this year. This will be the first time the tournament will feature 32 teams, leading the World Trade Organization to report that its impact will be significantly greater than in previous years.
Matches for the Club World Cup will be held in 11 US cities, with organizers anticipating an attendance of 3.7 million spectators.
Their aim is to use this tournament to prepare for the following year`s FIFA World Cup. The World Trade Organization states that the FIFA Club World Cup will add $21.1 billion to the global GDP.
The United States also anticipates significant social benefits from this tournament, estimated at $3.36 billion in the report. Furthermore, it is projected that the Club World Cup alone will create 105,000 jobs in the United States.
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