World Cup 2018: Russia

In 2010 Russia won the bid to host the prestigious, international FIFA World Cup. A competition that attracts the eye of most of the sports fans around the planet. Thirteen venues will host games for international play during the World Cup. Qualifier games for the mecca of soccer begin this coming June, but the construction of the venues in Russia are running into delays and price increases.

imgres-3Price increases for stadium construction are being reviewed by the Russian Ministry of Industry and Trade as the nation prepares for the 2018 FIFA World Cup. The Ministry is already working towards evaluating the legitimacy of the increase in price, while looking for ways to reduce costs.

The construction efforts have come to a point where the Ministry has requested from FIFA, permission to reduce two stadiums’ capacities from 45,000 people to 35,000. After receiving the approval for the capacity reduction, no more will be allowed in order to accommodate the masses of traveling fans that flock to the World Cup.

While Russia is due to cut its budget allocation to the preparation for the World Cup, it does not plan to see those funding reductions affect stadium and infrastructure construction. Other parts of the preparation will see budget reductions of up to 10%.

The Russian economy has been hit recently with the value of the Rouble dropping against the dollar as far as 75 Roubles to the Dollar. This mostly due to the international oil surplus resulting in engorged interest rates by Russia. In 2012 when the construction budget was announced at 664.1 Roubles, that translated to $20.5 billion in USD. If the budget were to be converted to the current price of the Rouble that figure drops to $9.6 billion. For more on this topic, check out this article here.