Editor's note

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 07:35

World Cup-18: business, nationalism & culture

Eugene Eteris, European Studies Faculty, RSU, BC International Editor, Copenhagen, 16.07.2018.Print version

A month of football’s fever is over: for four weeks several billion people around the world have been watching this popular game. Curious enough, the World Cup has turned –already in the semi-final - into the “European cup” with France, Croatia, Belgium and England to compete. There are some lessons that can be learned from this championship.

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!





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