Sunday, May 14, 2006

This article has really hit it on the head, I've always believed we totally underestimate the importance of sport in our nation, allocating peanuts to it in our budget. Its time for future govts to take this more seriously, since we cannot hide behind the "poor and underdeveloped nation" label anymore and 1 bronze/silver medal from a nation of a billion people is going to start to look more and more pathetic with every passing olympics.

When sports lift spirit of a nation
APARNA RAMALINGAM

TIMES NEWS NETWORK[ SUNDAY, MAY 14, 2006 12:00:00 AM]





NEW DELHI: Can soccer trigger a boom in the economy? Can cricket make you forget about insurgency in Kashmir or about your exam the next day? Can a win in a sporting event raise the morale of an entire generation?


Participants of the 2006 FIFA World Cup control more than 80% of the world’s economy and the winner is expected to have some amount of economic boost after the victory.



As the countdown for FIFA World Cup 2006 begins, history is replete with examples where the impact of a surprise win in a sporting event has gone well beyond the sports itself. For us, the watershed year was 1983 when Kapil and his devils beat the West Indies to lift the Prudential World Cup. From that day cricket became a national obsession and our cricketers achieved demi-God status.


A HSBC report pointed out that since 1966, stock markets of developed countries that have won the soccer World Cup have outperformed global indices by 9% on average, during the lucky year.



For Brazil, it was 1958 when they won their first soccer world cup. ‘‘That victory changed the face of the nation and the average Brazilian became more confident,’’ says Brazilian Ambassador Vicente Pimentel.


continued: http://economictimes.indiatimes.com/articleshow/1528764.cms

1 Comments:

At 12:12 PM, Blogger John said...

I have to say, this is kind of ridiculous. The writer says "Participants of the 2006 FIFA World Cup control more than 80% of the world’s economy and the winner is expected to have some amount of economic boost after the victory." Well, maybe the fact that they "control" so much of the world economy (is this based perhaps on their share of world GDP?? that's a weird choice of words) accounts for their strength in soccer? The more money you have to throw around, the more leagues your economy can support, the more training you can invest in, the better your results. He's really confusing cause and effect...

I'm not saying that you have to be a rich country to do well in sports. There are certainly plenty of countries that are poor but do well in soccer. But, this once again underscores my point: even though these countries do well in sports, they are still relatively poor! (think of the South American countries and the African countries that have done well)

 

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