RWC

Wealthy Nations Daily Update - Japan World Cup Shock !!

Last week, in jest, we projected what the Rugby World Cup (RWC) results might be if they were correlated with the countries’ corresponding Net Foreign Assets (NFA) scores. We speculated that Japan, with a NFA of +62% and 5000/1 odds to win the tournament, would take the cup to become defending hosts in 2019. In reality this was unlikely as up until this weekend the Japanese ‘Cherry Blossom’s’ only previous RWC victory was in 1991 against Zimbabwe. To make expectations worse, their first opponents this year would be RWC twice champions South Africa. But on Saturday the Blossoms clinched a 34-32 point victory against the ‘Springboks’ in what is being widely heralded as the greatest shock in World Cup history.

Wealthy Nations Daily Update - Rugby World Cup

The opening game of the Rugby World Cup (RWC) on Friday will see host nation England taking on Fuji. This year’s event is expected to attract more international visitors than any previous World Cup. It is thought there will be up to 466,000 visits across the length of the tournament. These visitors bring with them significant spending power to the host nation, from purchasing tickets, accommodation and match day entertainment to visiting other local tourists attractions whilst here. In total it is reported that foreign visitors will add up to GBP 869mln in direct expenditure to the UK economy. The exposure generated by the World Cup will also provide opportunities to attract future tourists and businesses. In total the World Cup could deliver up to GBP 2.2bln in additional output to the UK economy, translating into nearly GBP 1bln in value added to GDP.

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