Rugby World Cup 2023 organizers expect to reap record profits
Rugby World Cup 2023 organizers expect to reap record profits – The Rugby World Cup, which is set to take place in France this year, is expected to break records in terms of profits. Jacques Rivoal, the president of the organizing committee, announced that the budget for the event was approved during a meeting and the profits are predicted to be in the range of €45-50 million ($49-54.5 million). This figure is higher than the profits generated by the previous World Cup events in England in 2015 and France in 2007, which were around €36 million.
However, the initial budget prediction of €65 million, which was filed during the bidding process, was not achieved as the expenses incurred during the preparation of the event took a toll on the budget. Inflation added an extra €7 million, and the initial budget also did not include an apprentice training center and an endowment fund.
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Despite the setbacks, Rivoal is optimistic and believes that the event will be a success. He is focused on leaving a legacy after the World Cup and has identified four key areas that the event will contribute to, including the sustainable and circular economy, training, employment, and education, protecting the environment, and inclusion and the fight against discrimination. The World Cup is expected to bring in 600,000 foreign visitors, and Rivoal has stated that carbon absorption programs will be implemented to compensate for the carbon footprint left by the event.
The World Cup preparations have been marked by controversy, with several key figures facing accusations and suspension. However, Rivoal is looking to the future and wants to focus on the positive aspects of the event, which he describes as an exceptional opportunity to create sporting emotion. The World Cup will kick off on September 8, with France taking on New Zealand at the Stade de France in Paris.
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