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World Cup fever attracts remarkable dividends into Russian economy

World Cup fever attracts remarkable dividends into Russian economy

World Cup fever attracts remarkable dividends into Russian economy

Written by Reuters

08 Jul, 2018 | 3:44 pm

Reuters – The 2018 World Cup has attracted football fans from all over the world, bringing remarkable dividends to the Russian economy.

The tourist flow to Moscow has increased significantly during the World Cup. The famous State Department Store (GUM) next to the Red Square has played up the football elements to the extreme. The football fountain and football strap jewelries have made tourists from around the world stay and shop like in a football palace.

“About 50 percent of the business turnover come from foreigners during the World Cup as against only 15 percent as usual,” said Timur Guguberidze, Managing Director of GUM.

According to official data, the activities of the Moscow public catering industry doubled the first week into the World Cup. The sales data of GUM have confirmed the magic effect of the World Cup pulling consumption. “There is an interesting fact that during the World Cup, visitors spend much more than usual, about twice as much,” said Guguberidze.

The Kuznetsky Most Street, a commercial street in Moscow, is drenched in a rich atmosphere of the World Cup and even the usually very quiet cafeteria has put up a big screen to show matches and shaped chocolate cakes like footballs.

“The visitor flow has increased two-fold, mostly foreigners. It seems that the people of the whole world are here. It is amazing,” said Kiril, manager of a restaurant on the Kuznetsky Most Street. “The visitor flow is the biggest every evening during the World Cup, tripling the normal flow,” said Gellman, a staff member of a coffee house on the Kuznetsky Most Street.