WYD organizers predict event will boost Brazil's economy
July 19, 2013: Organizers of the World Youth Day (WYD) celebrations in Rio de Janeiro
are predicting that the events will generate more than $220 million in business for
Rio de Janeiro.
Although registrations for the WYD celebration have lagged
below expectations, organizers note that the events will produce 20,000 jobs and draw
hundreds of thousands of pilgrims to Brazil. Organizers have highlighted the economic
benefits of WYD to combat complaints that the events are harming the frail Brazilian
economy.
Public officials in Brazil have reportedly declined requests to boost
funding for WYD. The costs of the event—estimated at $140 million-- will be paid by
individual registrations, personal donations, and corporate sponsorships. (Source:
CWN)