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While Brazil inches towards the World Cup that kicks off in June 2014 and spans over six weeks (the event opens at Maracanã Stadium, which seats 77,000), it will simultaneously start preparing for the Summer Olympics in 2016. So how does one see the sporting spirit of a country that’s spending just about 1.5%
It is rather interesting to observe how Brazil has been transforming itself through its lacunae and strength, often merging both into one. Being an agrarian economy, with farmers as its stronghold, Brazil has sought to host two really global sports events that will showcase the country to the rest of the world like never before.
Brazil is using this opportunity to get private funding into the events around FIFA 2014. The experts, while denigrating Brazil’s spending of $3.5 billion on renovation of stadiums, are also curiously watching the country ‘sacrifice a little bit of its future for the World Cup.’ Economists are of the opinion that the private parties, who held their purse tight while the country stumbled into an economic mess, are now opening their vaults to spend on sports events. Well, sponsorship is the right word.
A recent report by Bloomberg has elaborated how foreign investors are profiting through public companies, by announcing mergers and tie-ups with infrastructure projects, weaved right around the sporting events, particularly around the World Cup.
Without using too many platforms to promote itself, Brazil will rekindle the sporting spirit among its youngsters. The nation, which already has big names in sports such as foot volley, tennis, basketball, auto racing, baseball, rugby and others, will produce another generation of sports stars by bringing the stars from across the world, closer home.