How football can fuel countries economy

How football can fuel countries economy

     Football like most people know it or soccer for US people, is one of the most popular sports in the world, with billions of fans around the world. It is not only a source of entertainment and passion for many people, but it also has a significant impact on the economy of countries. That’s why we are going to explore how football can fuel a country's economy.

     Football clubs generate significant revenue through various sources such as ticket sales, merchandise, and sponsorships. This revenue can have a significant impact on local economies. For example, the English Premier League, considered for most people the best league of the world, (Football League of England) generated over 6 billion in revenue in the 2018-2019 season alone, which contributed significantly to the UK's economy. This not only generate revenue to the football clubs, but also a part of the money contributes to the state. Besides helping the economy of the club and the country, sometimes this money goes to foundations to help different campaigns, such as poor people, victims of natural disasters, between others.

     Also, football forms an important part of the country's economy thanks to the massive events this sport attracts. For instance, the 2018 FIFA World Cup in Russia attracted more than 3 million tourists, generating an estimated $14 billion in revenue. This revenue supports local businesses, creates job opportunities, and develops infrastructure. Host countries benefit from increased exposure and a positive image, leading to long-term economic growth. At the same way with the Qatar 2022 FIFA World Cup, FIFA billed a record $7.5 billion in revenue for the four-year cycle from commercial deals related to the 2022 Qatar World Cup. Now, if FIFA revenue $7.5 billion only for commercial deals, imagine how much money generate the World Cup games, tourism, food, hotels, merchandising, between others, in Qatar. According to many websites, it was more than $2 billion, and it helps to become richer to rich people, and excellent incomes to middle and lower-class people.

     And the last but not least, is the player transfer market. Football nowadays is a business of buy and sell of players. Famous players top every transfer market that runs in the winter and summer markets, and each time records are broken. For example, Brazilian star Neymar Jr., one of the greatest players in the world and for many the third best player of this generation, was bought in 2017 by Paris Saint-Germain for $222 million, becoming the most expensive signing in history. Recently, Chelsea FC signed Moises Caicedo, for an amount of $146 million, making him the most expensive signing in the Premier League. Every day players go up and down in price, and it is due to monetary inflation and the availability of players to meet the demand of the different media that require them, it means that the shortage of supply raises prices, according to El Universo, an Ecuadorian newspaper. To give an example of how much the price of players has risen, I can mention my great-grandfather and his brother, who were soccer players and Ecuadorian national team players at that time, in addition to playing in other teams outside the country. They earned approximately 600 sucres, which at that time was approximately 40 US dollars. They were lower middle class and never experienced the luxurious life that most soccer players who have the opportunity to be selected for their country or play abroad live.

     Although soccer brings economic benefits, some critics argue that excessive investment in the sport can distract resources from areas of greater need, such as education and health care. The construction of stadiums and the organization of massive events can absorb considerable financial resources that could be used to improve basic infrastructure and essential public services. In countries where education and healthcare systems face persistent challenges, dedicating significant funds to soccer may seem like a misplaced priority. An example of this occurred at the 2010 World Cup in South Africa, where opinions were divided, as many people perceived the contrast between the area where the event was being enjoyed and the reality of the country. These people could not believe how hundreds of people were starving to death when 500 meters away there was a newly built stadium with luxuries, full of people enjoying an event where only people with economic possibilities could attend.

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