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LC MARKETING GAME DURING WORLD GAMES
Editor's note:
World Bank economists say that the World Cup makes difference
in the economy. Do world games make difference in the LC
business? The hypothesis is: yes, they do. The world games offer an
opportunity for enhancing trade financing business in general and LC
business in particular. The world games can generate competitive LC
marketing game among banks. The world games can enhance and accelerate
competitive trade game among traders for import/export of games
related products. When athletes compete to run businesses compete to
run. Games competition begets trade competition. Games, which are
good for physical health, are also good for improving the health of
the economy. Here our LC specialists debate the hypothesis.
Marek Dubovec: World
Games - an Opportunity to the Host Country for Developing its Economy
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Marek Dubovec
Research Attorney
National Law Center for Inter-American Free Trade,
USA
Contributing editor,
LC VIEWS
World games have
a positive effect on the host's economy.
Olympics in particular generate more revenue and need for financing
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What the
World Bank says is true for any major sport-related event. We may expect
some increase in the volume of sales and perhaps LCs before the 2008
Summer Olympics in Beijing as well. I would say that the Olympics generate
more revenue and the need for financing than the World Cup, because of the
variety of sport events. The cities that host these events will have to
build new infrastructure that may be financed from foreign sources. Major
resources are always invested to the hosting of the World Cup or the
Olympics. This has a positive effect on
employment and local economy in general. Germany already has proper
facilities, therefore, the need for financing is not acute. I am not so
sure about the 2010 World Cup that will be held in South Africa.
Perhaps, some structured financing will be needed.
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