Five World Cup Economies on the Decline: Russia

Russia’s lukewarm prospects this World Cup and its rising tension with neighbors such as Ukraine reflect a bit of an uncertain time for the country within Europe. Few see the Russian team as much of a threat to advance far in the World Cup and former Soviet satellite states such as Ukraine, Croatia and Bosnia & Herzegovina are either ranked ahead of the country in current FIFA/Coca-Cola world rankings, or have more feared lineups. However, a weak group that includes Belgium, Korea and Algeria gives Russia a path to the knockout rounds. The country’s hosting of the 2018 World Cup, in addition Russian ownership of clubs like Chelsea and Monaco shows the country’s interest in football remains strong. Russia’s World Cup may be overshadowed by its relationship with neighboring countries such as the Ukraine. A recent seizure of Crimea and escalating tension between Russia, the U.S. and the European Union has slightly diminished the country’s standing ahead of the World cup. It has also damaged Russia’s economy. The G-7 recently met without Russia and it is yet to be seen how hard economic sanctions will hit the country’s economy. Still, Russia remains one of the so-called BRIC economies poised to grow faster than the developed world in coming years. This World Cup will be Russia’s first in over a decade. However, it is the 2018 Cup where the country may play a more prominent role.