Although it lost its semifinal match against Germany yesterday, Brazil is nonetheless a winner in the 2014 FIFA World Cup, according to a new study conducted by the Economic Research Institute Foundation (FIPE).
Commissioned by Brazil's Ministry of Tourism, the study predicts the initial, direct, indirect and induced impact of the World Cup on Brazil's economy. Based on an analysis of the FIFA Confederations Cup, which took place in Brazil last June, it estimates the event's total economic impact to be $13.5 billion.
Additionally, the study found, the event has created approximately one million jobs.
"It is an extremely significant number that we are celebrating at this time," Vicente Neto, president of Brazil's tourism board, EMBRATUR, said of the jobs number. "It is an extraordinary legacy."
According to EMBRATUR, the World Cup is the culmination of a 10-year effort to improve Brazil's standing as a destination for meetings and events: Between 2003 and 2013, it pointed out, the country climbed 10 spots -- from No. 19 to No. 9 -- on the list of the world's top international association meeting destinations, published annually by the International Congress and Convention Association (ICCA).
"The total number of events held in Brazil during that period increased from 62 to 315, and the number of cities hosting events increased from 22 to 54," EMBRATUR explained in a press release. "The progress is [the] result of a decentralization policy adopted to attract international events."