Russian Retailers, Hotels Emerge As World Cup Winners

www.oann.com | 7/7/2018 | Staff
ali11 (Posted by) Level 3
MOSCOW (Reuters) – The World Cup has captivated host Russia for a month, proving a boon for the brewing and hotel industries while dampening spending on some expensive items and curbing trading on financial markets.

As well as the usual staples of the soccer fan — beer and snacks — the tournament also spurred domestic demand for loans for electronic appliances, primarily TV sets and smartphones.

Car - Dealers - End - Party - Sunday

Meanwhile, Russian car dealers will probably welcome the end of the party on Sunday after sales slowed last month.

Economists have played down the direct economic impact from the World Cup, predicting it would be marginal and unevenly spread.

Pattern - Countries - Sports - Events - Bounce

That tends to fit the pattern of other countries that have hosted major sports events — a brief bounce but not enough to make a lasting impact on an economy.

The tournament, which kicked off on June 14 and ends when France play Croatia in Sunday’s final, attracted more than 700,000 foreign fans to Russia, who packed the streets of the 11 host cities together with locals.

Moscow - Increase - Tourists - Number - Visitors

Moscow saw a 60-percent increase in foreign tourists, bringing the overall number of visitors to the Russian capital during the World Cup to 3 million people, said Nikolai Gulyaev, head of Moscow’s sport and tourism department, said.

All those fans needed to be housed and kept refreshed.Booking.com warned 74 percent of properties in St. Petersburg and Moscow have been booked for the World Cup final weekend. Booking.com’s website gave no such warning on availability for next weekend. In the stadiums, Russian fans were the main spenders, having laid out $12 million over the first four weeks of the tournament, Visa said on Friday.

Sales - Beer - Beverages - Snacks - Weeks

“Sales of beer, non-alcoholic beverages and snacks have visibly increased in the first two weeks of the World Cup,” said the Perekrestok supermarket chain, part of Russia’s largest retailer X5 Retail Group .In...
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