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)