Asia
In the 2002 World Cup, several other advantages were discovered when the host was split between Japan and Korea. This was the first time the tournament had been hosted in two countries, with thirty two matches being played in each country with a grand total of sixty four matches. With the three million live spectators ticket sales were an astronomical 1.2 billion dollars. FIFA alone promised each country 110 million for hosting and all revenue from their ticket sales. Also, each country expanded their 20 soccer facilities with an investment of 4.7 billion dollars to prepare for this global event. This gave birth to another realization of hosting this event. Japan’s ten new facilities were almost solely built in competition with Korea’s expansion and the previous World Cup’s host France. A host country in the world cup feels this sense of pride and national exposure with so many people viewing and attending the event. Many times they feel it can show the world their economic success and the progress they have made in bracing the global sport of soccer. This sense of nationalism actually caused a loss for the Japanese while hosting the Cup.
The expansions in Korea will leave longer lasting impressions for their economy because all ten of their newly developed stadiums are currently used by their professional teams. Japan was only able to maintain two of the ten facilities that they built in preparation for the 2002 Cup. Therefore, the return on investment for Korea is much greater. Moreover, the attendance in these countries was predominantly European and American in which the trip of these fans was more of a vacation and their stay accounted for more profits than the typical World Cup attendees.
It was predicted prior to the 2002 Cup that the England team's absence would cost the economy 4.7 billion in lost output or about .3% of their GDP (Gross Domestic Product) if they were to win the entire tournament. If the England team loses in just the first two weeks however, the losses are only expected to reach a total of 1.8 billion. A broader scope of Europe suggests that the top ten other soccer enthusiasts may contribute a loss of 8.1 billion of economic output or .3% to .75% of second quarter GDP. This is proven more significant in that of the thirty two nations participating, those nations account for 84% of the global GDP.
Read more about this topic: Economics Of The FIFA World Cup
Famous quotes containing the word asia:
“So-called Western Civilization, as practised in half of Europe, some of Asia and a few parts of North America, is better than anything else available. Western civilization not only provides a bit of life, a pinch of liberty and the occasional pursuance of happiness, it’s also the only thing that’s ever tried to. Our civilization is the first in history to show even the slightest concern for average, undistinguished, none-too-commendable people like us.”
—P.J. (Patrick Jake)
“Incarnate devil in a talking snake,
The central plains of Asia in his garden,
In shaping-time the circle stung awake,
In shapes of sin forked out the bearded apple....”
—Dylan Thomas (1914–1953)
“I believe that the fundamental proposition is that we must recognize that the hostilities in Europe, in Africa, and in Asia are all parts of a single world conflict. We must, consequently, recognize that our interests are menaced both in Europe and in the Far East.”
—Franklin D. Roosevelt (1882–1945)