Major sporting events like the World Cup generate significant economic benefits, including job creation and GDP boosts, while also driving up ticket prices and creating challenges for accessibility, demonstrating the complex economic trade-offs of hosting global sporting events.
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U.S. men's opening World Cup victory driving up prices
Added:Well, the heat is on for the World Cup.
So, is the temperature. Tonight's matches will be played with a mercury, get this, in the 80s.
In New Jersey, Brazilian fans there are showed their pride before meeting up with Morocco. CBS's Nicole Valdez is in Los Angeles with more on this. Nicole, uh the USA really had a dominating debut.
>> Chanel, good evening. Last night's stunning 4-1 victory by the US men's team is driving prices up fast for their next match in Seattle. Fans are shelling out hundreds, if not thousands of dollars, to see if the Americans can keep THAT MOMENTUM GOING.
>> [screaming] >> SOCCER FANS ON A HIGH, dancing out of Los Angeles stadium Friday after an electric performance by the US men in their first World Cup match.
>> It's an experience that you can't put a price on the memories we're making.
>> But, those prices have never been higher.
>> As long as I get to see, you know, La Niña Ma, >> Christian Pulisic.
>> While some stadiums are packed, not every seat is filled.
>> It's a little ashamed the regular common folk can't come to these games, you know, because that is getting they're being overpriced. And that's the problem.
>> FIFA is reportedly expected to profit about $9 billion from this year's tournament. But, for many host cities, putting on this over month-long global event comes with a steep price tag for stadium maintenance, fan transportation, and security.
>> I think FIFA could probably be looking at ways to help out support a >> World Cup sponsor Bank of America says this year's tournament has created nearly 300,000 jobs nationwide and projects the US economy could see a $47 billion boost.
>> Economic activity and the benefit that they get is not only the time that the 5 weeks of the World Cup, but also transcends for the next year.
>> Meanwhile, as the war with Iran continues, the team insists they're here for sports, not politics, but their coach could pull the country's players from a match if protests erupt in the stands.
And we could see those political tensions on display here in LA with Iran set to take on New Zealand on Monday, Chanel.
>> Nicole Valdes, thank you.
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