2018 World Cup : Russia increases budget by 40%

The estimated budget for the 2018 World Cup in Russia has increased by 40% from €15bn to €21bn, according to Russian Minister for Sports, Vitaly Mutko on the 11/06/2013.

The budget has more than doubled compared to a forecast made in December 2010 by Vladimir Putin (€10bn) when Russia were awarded the tournament. The budget includes the construction/renovation of sporting facilities (12 stadiums and training centres), as well as the renovation of airports and general transport infrastructure.

Only four regions in Russia (Moscow, St. Petersburg, Krasnodar and Tatarstan) would be able to finance their projects independently, which explains this budget increase, according to Standard&Poor's on the 24/05/2013. The American financial services company estimates that the cost of the World Cup could reach €31.5bn.

The budget for the 2018 tournament (€21bn), is 42% less than the budget for the 2014 Winter Olympic Games in Sochi, estimated at €36.3bn.