The World Cup is being held in Russia this year starting in just a mere few days. The hype is well and truly underway with campaigns and advertisements around every corner!
What will the Russia World Cup bring to the country?
A major sporting event naturally attracts high volumes of tourists and really places the host country under the spotlight to the rest of the world. Money being spent in the country preparing for the event and the influx of tourists needs to be planned and calculated to ensure the ROI will be worthwhile. The tournament is an opportunity for the country to make an impression and transform the location into a tourist destination of the future.
It has been interesting to read the effects the World Cup may have on the real estate market. JLL Head of Russia and CIS Tom Devonshire-Griffin has said: “The effect on sentiment for real estate can be incredible: as an investment agent the best 11 days of my career were the 11 days after the end of the Sochi Winter Olympics”. It is important for the country to maintain and display political stability in order to capitalise on the benefits the tournament can bring.
The aviation sector is one that will be highly affected by the event. Airports have spent months preparing for the increased volume of footfall including construction developments, heightened security and brands increasing employees and stock to ensure they are equipped with relevant merchandise. Koltsovo Airport is expecting to receive 14,000 more passengers daily and has created a new scheme which will enable passengers to reach the city through the departure lounge to manage the high footfall.
It has been interesting to read that some of the venues have been selected determined by the local airport. Saransk Airport has recently enjoyed a lot of development which has improved capabilities and flight options – a suggested reason to why it was chosen as a destination over Krasnodar. In addition, not only with the World Cup in mind, but the Moscow Hub Airport Development Project has delivered construction and improvements to most of the airports in the region – improving the travel experience.
It has been found that 66% of the UK population increase leisure spend during the World Cup. With footfall on the increase, destinations need to utilise the opportunity with creative events, marketing campaigns and commercialisation units to maximise sales.
Sports retailers have an opportunity to maximise sales utilising relevant merchandise and sports apparel. Shopping centres can partner with brands to create events that will really engage with football fans, increase dwell time and deliver sales opportunities for tenants!
Looking forward to enjoying the events over the coming weeks!