Business & Industry

Feb 1, 2018

FIFA'S WORLD CUP OPENS THE DOOR

Curiously, for the accomplishment of the last two World Championships (2010 and 2014) and the one held this year, FIFA chose for the first time three countries classified as BRICS: South Africa in 2010, Brazil in 2014 and Russia in 2018.

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By ALEKSANDR SAVCHENKO

It's a clear sign that the interest in football as a sport and show business grows into new latitudes and other important countries appear today with power and economic ability to rub shoulders with European and American countries which traditionally dominated the achievement of these major events of worldwide interest. The BRICS – set composed by Brazil, Russia, India, China and South Africa – are the best example.

But if the assertion of the BRICS in the sports and entertainment is a world reference, the power of these countries is more relevant in the field of Economics and business, because their accumulated GDP, which already reaches 20 trillion dollars, represents about 25% of global GDP and exceeds both of the United States and the European Union.

In the case of Russia, where this year the football World Cup takes place, the reorganization of the economy that has been carried out in recent years – despite the negative effects resulting from the breakdown of the value of exports of oil and gas since 2014 – has been causing the modernization of old enterprises and the development of new industries linked to new advanced technologies, especially related to aviation, space, telecommunications, shipbuilding, petro-chemistry, software production and other sectors in which the productive capacity and export has increased and contributed to some recovery and stabilization.

Thus, diversification efforts are causing positive effects on growth and demand satisfaction with greater proportion of national products and services and with less recourse to imports, what has led to the current surplus of 100 billion dollars.

It is getting greater the range of Russian manufacture products such as airplanes, trucks, space satellites, ships, textiles, agro-food and other goods, especially products with high incorporation of high technology. In this chapter, is not indifferent, the State investment in the modernization of infrastructures.

It is no surprise, therefore, to see an increasing number of international economic groups of multiple sources to invest in the Russian market or to seek partnerships with Russian companies – and this trend widens increasingly out of the traditional oil and gas sector, where Russia is one of the largest producers.

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