World Figure Skating Championships, World Cup soccer, Olympics in Russia

In light of the natural disasters and nuclear crisis in Japan and unrest in the Middle East, Moscow recently agreed to host two major sporting events previously planned for Tokyo and Cairo. The World Figure Skating Championships and the Modern Pentathlon, respectively, will now be added to the list of popular international sporting events scheduled to take place in Russia. These events will likely do more than relieve crisis-stricken countries from their obligations; they will bring tourism and related economic, infrastructure and bureaucratic benefits to Russia.

Welcoming athletes and encouraging tourism

Although saddened by the circumstances sending the World Figure Skating Championships and the Modern Pentathlon to Russia, the country is eagerly welcoming these opportunities. For the World Figure Skating Championships, Deputy Prime Minister Alexander Zhukov, who also leads the Russian Olympic Committee, announced that the government will expedite its visa process. Russia will ease its visa requirements for athletes, coaches, officials and fans to encourage and simplify their entry into the country.

“For major sports events, we have had a special procedure for the visa process,” Zhukov said, noting that this is not the first nor the last time that Russia has made adjustments to the visa process for sporting events. When Moscow hosted the Champions League soccer final in 2008, the nation also adjusted its visa rules.

In the future, Zhukov added, “We’re going to make it much easier, not just for the Olympic Games in Sochi, but also for the world championships.”

Improving infrastructure and the economy

The World Figure Skating Championships, which are scheduled to take place in May, and the Modern Pentathlon in September will not only increase Russia’s reputation as a host for major athletic events; the thousands of fans expected to descend upon Moscow’s Megasport arena – in part thanks to the loosened visa restrictions – will also bring a welcomed boost to Russia’s economy with tourism-related spending.

Analysts anticipate that the 2018 World Cup soccer championship and the 2014 Olympics will also contribute to the growth of the Russian economy and drive Russia’s infrastructure spending. Merrill Lynch estimates that total spending for the World Cup soccer games alone will reach $50 billion, including the construction of 13 new stadiums. Just the assembly of the new VTB Stadium and Arena – a project encompassing a 45,000-seat stadium, 15,000-seat arena and five-star hotel in Petrovsky Park – will cost $1.5 billion.

On top of that, Sochi has become one the world’s biggest construction sites, employing 42,000 workers for the Olympics. Construction in preparation for the Olympics includes 161 miles of new roads, 65 miles of new railways, upgrades to high-speed rails, improvements to Moscow’s Sheremetyevo and Domodedovo airports and a new electrical grid, which will all aid employment and ease transportation between regions.

Bureaucratic support

Perhaps most importantly, investors are optimistic that sporting events like the World Figure Skating Championships, the Modern Pentathlon, World Cup soccer and the Olympics will speed up improvements to Russia’s bureaucracy. Prominent leaders in the Russian government have avidly supported hosting these events.

Prime Minister Vladimir Putin is at the forefront of the massive efforts to bring sporting events to Russia. Last year, he reportedly met with at least a third of the 24-member FIFA Executive Committee charged with rewarding hosting rights for the World Cup. Zhukov additionally noted the government’s support for the Modern Pentathlon and cited Putin’s influence in bringing the World Figure Skating Championships to Russia, as the Prime Minister assured the public that “this is not a very expensive event and we are capable of taking care of all the expenses.”

After winning its World Cup bid, Brazil saw its stock market outperform some of the world’s fastest growing economies like India and China. Furthermore, the World Cup held last summer in South Africa brought over 300,000 tourists, created half a million jobs and increased the country’s GDP by 1%. If the events go as planned, Russia may also see boosts to its economy similar to those experienced by other developing nations in comparable situations.


What do you think is the greatest benefit the World Figure Skating Championships, Modern Pentathlon, Sochi Olympics and World Cup soccer games will bring to Russia?