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Brazil will be hosting of the World cup and the Summer Olympics...two nice ways to juice or squeeze your economy. I guess we can also include Russia in this converstion as they host the Winter Olympic in 2014.
Some news on how these world events impact EM countries:
"While it’s certainly a stretch to say that paying $50 billion for anything is reasonable, Russia hopes that its massive spending will pay off in terms of regional economic development. To make that possible, Russia is now building high-speed rail lines between Moscow and Sochi and upgrading the Black Sea region's air, rail and highway infrastructure. Unlike previous Olympics, which largely left host nations with a lot of empty, rusting stadiums, these 2014 Olympics plan to leave Sochi and the Black Sea region with multi-use facilities that can be converted into other uses beyond just athletics"
"the real story may be what the games say about the economic achievement of participants. He notes that countries with strong emerging economies are now leading the medal count, and stresses the strong correlation between economic growth and athletic achievement."
"Olympics tend to have cost overruns of about 180% on average. For Sochi the overrun is now 500%. But Russia made clear that money was not an issue, says Ms Stewart. She also notes that relations between the government and construction companies appear closer in Sochi than in other games. Large construction projects often have a side-effect of corruption. But in Russia corruption is not a side-effect: it is a product almost as important as the sporting event itself."
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Some news on how these world events impact EM countries: What Tokyo 2020 can learn from Sochi 2014 The Economy of the Olympics most-expensive-olympic-games-history-offer-rich-pickings-select-few-castles