The economics of the World Cup

Economist Victor Matheson said 'The World Cup is making us happy. There’s not a lot of evidence it’s making us rich.'

Host cities were promised $4 billion in gains for the 1994 World Cup but economists later reported up to $9.3 billion in losses.

FIFA’s consultants projected the current World Cup would add $17.2 billion to American GDP, but gains wash out against tourists who stayed home and jobs that never came.

A first-person account of attending a Norway vs. Iraq match describes the cultural collision, seeing Iraqi flags, and the experience breaking down distance that makes credulity easier about foreign threats.

The article argues that the economic benefits of hosting the World Cup are oversold and the costs barely counted, contrasting with specific data on educational investment returns.