There are two and a half months to go before the repechage that would lead the Peruvian national team to the World Cup in Qatar 2022. The 'bicolor' got that right after beating Paraguay 2-0 last Tuesday on the last date of the South American Qualifiers. It will now be measured against a selection that could be Australia or the United Arab Emirates.
Given this scenario, Jorge Carrillo Acosta, professor and expert in finance at Pacífico Business School, conducted an analysis of the economic impacts that this desired achievement would have.
“Overall, it is estimated that Peru's GDP could increase by around $1 billion by going to the World Cup (almost 0.5% of GDP). This is due to the greater self-esteem and optimism of the population, which would translate into an increase in private consumption,” says Carrillo.
With regard to the impact on companies, increased private consumption would increase the production of goods and services, employment generation and financing at the enterprise level.
The expert says that the main sectors benefiting from a possible classification would be:
- Appliances. Television sales tend to grow by 30% in the year of the World Cup, but, with the presence of the Peruvian national team, it could rise by up to 50%.
- Technology. Considering that the World Cup will be played in the mornings and afternoons (10 a.m. and 2 p.m. for most matches), many people will buy high-end tablets or cell phones to be able to watch the event from their workplaces. This sector could grow by 25%.
- Textile sector. The sale of t-shirts, polos, coats, hats, scarves, flags, etc., all alluding to the “Peru brand” would increase. This industry would grow by 20%.
- Restaurants. Considering that many matches will be played at lunchtime, the sector could grow by 20%.
- Financial institutions. Loan placements would grow by 20%, both at the corporate and consumer credit levels.
- Others. Businesses such as sporting goods stores (sports shoes, t-shirts, hats, etc.), travel agencies and airlines, souvenirs, sports betting, and the retail segment of food, drinks and snacks will benefit.
IMPACT ON FAMILY FINANCES
Carrillo also stated that qualifying for the World Cup would not only impact our emotions, but also our pockets. “Probably the euphoria of seeing the national team playing the World Cup will encourage us to increase a series of unforeseen expenses.”
Thus, some will drain their savings by traveling to the Asian country, buying tour packages that could cost anywhere from about US $10,000 to more than US $20,000 per person.
Others, on the other hand, with less budget, will suddenly invest in a new, much larger TV or a new, more modern cell phone than the one that accompanied them in the qualifiers, in order to better watch the matches.
There will also be no shortage of sporting goods and merchandise related to the event and our selection (t-shirts, caps, balls, banners, etc.), and, of course, we will also participate in the popular “cocks” organized in the office, with family or friends.
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