The Qatar World Cup, which starts on the 20th, should generate revenues of R$ 864 million for bars and restaurants throughout Brazil.
This is the forecast released this Friday (11) by the National Confederation of Commerce in Goods, Services and Tourism (CNC).
If the expectation comes true, it will represent an increase of 8.3% in relation to the tournament in Russia, in 2018, already discounting the inflation of the period. In relation to the 2014 world cup, when Brazil itself hosted the championship, it would be a drop of 2.6%.
“Just as commerce will benefit from a warmer end of the year, this will also happen in the service sector, specifically in bars and restaurants”, says Fábio Bentes, economist at CNC.
According to CNC, the World Cup increases the revenue of bars and restaurants by around 2.5% compared to the average of previous months. For the competition in Qatar, the sector should still benefit from the fact that the dispute takes place in the period of payment of the 13th salary, which favors the increase in expenses.
To meet the public’s movement, the National Confederation of Commerce estimates that bars and restaurants will have to hire around 7,750 extra employees, with an average salary of R$ 1,500. In the 2014 World Cup, the average admission salary was R$920, while in the 2018 it was R$1,207.
CNC’s estimate for the World Cup comes out this Friday when the Brazilian Institute of Geography and Statistics (IBGE) announced a 0.9% growth in services in September, compared to August.
As a result, the sector is 11.8% above the pre-pandemic level and reaches the highest point in the historical series, surpassing November 2014.
“Today’s PMS data confirm the trend that is the service sector that will drive economic growth this year. While commerce has a revenue level just 1% above the pre-pandemic level, industry is in the negative, the service sector already has a comfortable distance from the pre-pandemic level”, highlights Bentes.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
