The FIFA 2018 World Cup hosted by Russia made an extra contribution of 0.2 percentage points (pp) to acceleration of the retail trade turnover in June 2018, the Bank of Russia said on Monday.
"Growth of the retail trade turnover accelerated to 3% in annual terms in June 2018. Hosting the FIFA World Cup made an extra input to its growth (about 0.2 percentage points in annual terms)," the Bank of Russia said.
Growth of foods sales predictably had stronger acceleration in June 2018 as compared to nonfoods, the regulator reports. "According to estimates, the World Cup exerts the most visible effect on public catering turnover and the scope of certain kinds of services (hotel and transport)," the Bank of Russia noted.
Russia hosted the 2018 World Cup from June 14 to July 15, with matches held in eleven Russian cities. TASS reports, that according to information of the Association of Tour Operators of Russia, the World Cup contributed over 850 bln rubles ($13.5 bln) to GDP.