Hosting the Confederations Cup Added 9bn Reals to Brazil’s GDP According to Report

An economic impact study around Brazil’s hosting of the 2013 Confederations Cup has said that the tournament positively affected the Brazilian economy.

The study said that Brazilian Reals (BRL) 9.7bn ($4.37bn) was added to the Brazilian Gross Domestic Product (GDP) thanks to the tournament.

It also claimed that BRL20.7bn was made in financial transactions during the FIFA tournament, denture which is a dress rehearsal for the World Cup.

The Brazilian government has come under scrutiny and faced mass social protests over the cost of hosting major events such as the Confederations Cup, for sale the World Cup that the country hosts this summer and the 2016 Olympic Games in Rio.

The study was conducted by the Economic Research Institute Foundation (FIPE) and published by the Brazilian Ministry of Tourism.

It has been said that the Confederations Cup, which was won by Brazil, created around 300,000 jobs.

According to the report, around 58% of the BRL9.7bn in extra GDP was spent in Brasilia, Belo Horizonte, Fortaleza, Rio, Recife and Salvador.

This led the Tourism Minister, Vinicius Lages to say the tournament’s benefits were “not restricted to host cities,” and instead, it had an “impact on the whole of Brazil.”