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SBD Global/July 15, 2014/Finance
Research Institute Prognos Predicts Germany's World Cup Title Will Provide Economic Boost
Published July 15, 2014
BRAZIL EXPORT BOOST: In London, Joe Leahy reported Brazil "may have lost" on the field, but national export agency Apex President Mauricio Borges said that in the VIP stands, "Latin America's biggest country triumphed." Apex helped Brazilian companies to "invite more than 2,300 businesspeople from 104 countries to meet their local counterparts during the tournament, generating what it estimates" was about $6B in deals. Borges: "The World Cup seems to stir the emotions of people, from children to older people, so that they become more open to learn new things. We used this to show foreign businessmen a Brazil they might not have recognized." Brazil's government said that the event "generated enormous benefits." Academic institute Fipe indicated that last year's Confederations Cup generated about 10B reais in additional economic activity. Fipe added that the World Cup "should have generated about three times this much." Brazil's tourism ministry, meanwhile, estimated the event generated more than 15% of the 4.8 million jobs created during the "nearly four-year-long administration of President Dilma Rousseff" (FINANCIAL TIMES, 7/14).