ECONOMIC IMPACTS OF FIFA WORLD CUPS

Football is "the most important secondary thing in the world" and as such it has become a significant economic sector and a crucial source in many funding instruments. The euphoria that is generated when a national football team takes part in a world championship brings along certain financial investments. The impact is not only of a financial nature, but its implications are also relevant in the psychological context; both regarding the host country as well as all other teams that compete in the championship. The feeling of unity and solidarity, and the fighting spirit, that appear in the football team and during the games create a certain force. In this study, the authors do not focus on the psychological connotations that a football championship creates but rather on the effects that are realized in the field of economy. In the introduction, the emphasis is on the significance of football among different sports. The authors then give an overview of the largest sporting event - The World Cup. After that authors give an overview of various research studies concerning economic impacts of sport events with main conclusions.