Top global sports events that impact culture and economy

Published: January 22, 2024
Top global sports events that impact culture and economy

Global sports events, including World Cups and Olympics, significantly affect the culture and economy. They not only bring the communities together and encourage cultural exchange but also bring along economic benefits to the hosting state as well as those participating in them.


Cultural Impact 


Major sports events allow cultural exchange in the best form. It brings together people from different states and allows the hosting state to showcase its culture to a variety of people. On the other hand, the global audience gets a chance to experience new traditions and cultures.  An example could be the FIFA World Cup 2022, which was hosted by the State of Qatar. It allowed Qatar to showcase its culture and heritage to a global audience while it offered people to enjoy Qatari history.


Economic Impact 


The economic impact of global sports events cannot be neglected. These events generate billions in revenue for the hosting state. It creates jobs, helps in infrastructure development, and promotes tourism. For example, the FIFA World Cup 2014 which was hosted by Brazil generated about $15 billion in revenue. 
One thing to note here is that economic impact is not always positive. It's true that all the major sports events generate great revenue but it's not always the case. Many hosting states may need to invest a lot of money in infrastructure development and building stadiums, so they may not be able to earn as much as others. 


A Few Major Sports Events That are Super Impactful


If you’re a sports fan, you’ll love the following sports events. They’re all the hype, and of course, for the right reasons. While most people travel from one place to another to watch their favorite sports, it’s not always possible. Given the busy schedule and work life these days, traveling frequently is not an option for many. 

On the other hand, traveling is expensive and not everyone can afford it. However, not being able to afford it doesn’t mean you’re going to miss your favorite sports events. That's right. You can always stream them online. A number of streaming services, including ESPN, BBC iPlayer, Hulu, DAZN, and more, allow you to stream all the major sports events, so you can watch them in the comfort of your home. 

In case these streaming services don’t work properly in your area, you can always download and install a VPN to unlock them. Yes, a VPN will allow you to watch sports events on BBC iPlayer, Hulu, ESPN, and whatnot. Thus, there’s nothing to worry about. Now let’s have a look at the major sports events that you must not miss out on: 




The Olympics is one of the biggest events in the sports world in which pretty much all the countries of the world participate in a variety of sports. The goal behind the Olympics is to cultivate peace through sports. It takes place once every four years and is organized by the International Olympic Committee (IOC). 
Started around 2300 years ago, the Olympics is among the oldest sports events. It joins people from different states, races, and ethnicities, making them one. Besides its cultural and social importance, it’s also significantly important for the world economy. 


FIFA World Cup


FIFA World Cup, also known as the Football World Cup, is another sports event that carries great cultural and economic importance. It’s organized by the Federation International de Football Association (FIFA) and takes place once every four years. 
Initially established 1904, it currently has 200 teams as its members. The first Football World Cup by FIFA took place in 1930 and as of now, it has become an international cult. People from around the world fly to different countries to watch the World Cup matches while others eagerly watch them all in the comfort of their homes. 


Formula One Racing


Speaking of the most popular sports events, nobody can forget the Formula One Racing event. Organized by Federation Internationale de l’Automobile (FIA), it attracts millions of people from around the world. Not to mention, it’s one of the favorite sports events of most aristocrats. 
Technically speaking, it’s the richest and most advanced international racing event where you come across hundreds of open-wheel, single-seated cars racing on special tracks known as circuits. It’s not just a tournament between cars and drivers but also among technologies of different companies and teams. 


The UEFA Champions League


Last but not least, the UEFA Champions League is another major event in the sports world that was formerly known as the European Cup. Started in 1955, it's held every year in which 32 European teams compete in five different rounds. 
All 32 teams are divided into eight groups. Following the double round-robin format, one team competes with the other three. After that, the winner and runner-up team from all eight groups go into the round of 16 followed by quarter finals, semifinals, and eventually the final towards the end. 


The Takeaway 


Apart from the sports events mentioned above, there are many American tournaments like Super Bowl and NBA (National Basketball Association) tournaments that are super popular and they not only generate money but bring a million people together. In case you haven't been checking them out, start following them today and work on finding peace with sports. 

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