Editor's note
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 07:35
World Cup-18: business, nationalism & culture
About a month ago, I made a humble prediction, based on some
global banks’ intuitive prognoses. The following favorites in the World Cup-18
were mentioned: Germany, Brazil, Spain and France. Based on
“portfolio theory and the efficient markets hypothesis", Japanese bank
Nomura looked at the value of players in each team, the teams’ performance, as
well as some historical aspects and chosen… France. The bank has been
absolutely right (as well as me) - France has become FIFA World Cup 2018
champion.
See: http://www.baltic-course.com/eng/editors_note/?doc=19545
Our magazine is not involved in sport; but our readers – the
decision-makers, in general -can draw some lessons from the event.
First, globalisation
in sport is a definite loser: neither US, nor China could get through
qualification “net”; however, fans in South America, Asia and Africa were glad
showing that the cup has been a big cultural event with the ball in the center.
However, the World Cup-18 has also shown that Europe is still the focal point
in this popular game. World Cup has turned –already in semi-final into the
“European cup” with four teams to compete: France, Croatia, Belgium (these are
the first three places in the World Cup) and England, the unfortunate looser.
Second, there are
business
and cultural aspects in the cup. Thus, according to FIFA, about one
billion people play football (or soccer, in the US version); even more are
plying just on streets and local stadiums, etc. It was calculated, that about a
billion viewers have been watching the cup’s final. What a good chance for
advertising: never before so much people in the world have been gathering at TV
screens at one time! Besides, with the universal rules and rituals in football,
it has become a world-wide game, and the new cultural phenomena. Modern
football reflects cultural identity and attracts global attention.
Third, it is becoming
more digital: it is much easier nowadays for a referee to take a right
decision. There is a whole team of computer assistants to help a referee in
avoiding any misjudgments or mistakes. That makes the game-decisions less
“personal” and more objective.
Fourth, the cup
has shown that dedication to national players in the teams makes a difference
in the game: small Croatia (which managed to become a silver winner) with a
little bit over 4 million people has only national players and no foreigners! Bottom-line:
it’s rather the drive to win, youth inspiration and dedication to sport than
the country’s size or population.
Congratulation, France!