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The Business of the 2014 FIFA World Cup

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The Business of Brazil's 2014 FIFA World Cup

The Business of the 2014 World Cup

 

As you are reading this, billions of people are enjoying and celebrating the beautiful game being played by the world’s elite players. However, the 2014 FIFA World Cup is more than just a global football jamboree, it is also a magnet for controversy.

The revenue FIFA will generate in just one month will exceed an entire season’s revenue for the NBA, Premier League, LOGOC, VANOC and NHL. However, for Brazil, the cost of hosting the tournament will far exceed any money it will recoup in 30 days.

Brazil, a developing nation, has spent an estimated $11 billion on hosting the World Cup, making it the most expensive ever. To put that in perspective, the last World Cup, held by South Africa, cost $2.3 billion to host. Those opposing the Brazilian government spending the money on football argue that the funds could have been better used in developing the country’s education system, health care, and infrastructure.  Also, thousands of homeless Brazilians were displaced in order to construct stadiums and other structures for the World Cup.

It is important to note that this isn’t the only big party Brazil is throwing. In just two short years, Brazil will be hosting the 2016 Summer Olympics. Brazil will once again be under the global spotlight, and only time will tell if the Brazilian people will be more receptive to incurring another multi-billion dollar expense.

A side note, future 2022 World Cup Host, Qatar, will spend a mind boggling $200 billion in anticipation for its turn to host the World Cup. Controversy has ravaged the oil rich nation from the very beginning with bribery scandals and human rights violations.

FIFA generates a tremendous amount of revenue and it is interesting how it is allocated. First, the prize money for this tournament will be a record $576 million. Prize money is paid to national soccer federations and they allocate it as they see fit. The rest of the money is allocated to stakeholders that are involved in the tournament. Stakeholders include: clubs who are sending players to play, the host country’s national football federation, and an insurance fund for any injured players. The left over money, aka profit, will go directly to FIFA. This year’s tournament is expected to pocket FIFA $2.61 billion.

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Explainer: How Synthetic Biology is Redesigning Life

Synthetic biology (SynBio) is a field of science that involves engineering life for human benefit. Here’s an in-depth look at how it works.

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Synthetic Biology

Explainer: How Synthetic Biology is Redesigning Life

Synthetic biology (SynBio) is a field of science that involves engineering life for human benefit. It has the potential to reshape many facets of society—from the ways we produce food, to how we detect and cure diseases.

It’s a fast-growing field of science. In fact, by 2026, the SynBio market’s global revenue is expected to reach $34.5 billion, at a CAGR of 21.9%.

While this fascinating area of research is worth paying attention to, it might be daunting to wrap your head around—especially if you don’t come from a scientific background. With this in mind, here’s an introduction to synthetic biology, and how it works.

What is Synthetic Biology?

As we touched on in the introduction, SynBio is an area of scientific research that involves editing and redesigning the biological components, systems, and interactions that make up life. By doing this, SynBio can grant organisms new abilities that are beneficial to humans.

It’s similar to genetic engineering, however, it’s slightly more granular. While genetic engineering transfers ready-made genetic material between organisms, SynBio builds new genetic material from scratch.

SynBio has applications across a myriad of fields, with research covering everything from space exploration to drug discovery. Here’s a look at five of its real-world applications:

1. Medical Technologies

SynBio has a wide range of medical applications, including drug discovery, antibody production, and vaccine innovation (it’s been key in the fight against COVID-19). It also plays a significant role in “living drug” development, which is the use of living microbes to treat chronic or severe illnesses.

2. Sustainable Energies

Biofuel, which is renewable energy that’s derived from living matter, could replace petroleum and diesel in the near future—and synthetic biology technology is helping develop fermentation processes that will produce biofuel more efficiently.

3. Bioremediation

Bioremediation uses living organisms to restore polluted sites to their original condition. This field uses SynBio to try and make the decontamination process more efficient, and to expand the list of contaminants that bioremediation can target.

4. Food and Agriculture

SynBio plays a significant role in cellular agriculture, which is the production of agricultural products directly from cells rather than livestock or plants. These modified foods might have higher nutritional value, or might be void of allergens. For instance, this can be used to make plant-based burgers taste more like meat.

5. Space Systems and Exploration

Synthetic biology and 3-D printing have huge potential to sustain life during space exploration. Using SynBio technology, cells and bacteria could be modified to produce a myriad of materials—from plastic to medicine, and even food—and astronauts could print these synthetically engineered materials on-demand while in space.

Zooming in: the Science Behind Synthetic Biology

Now that we’ve touched on SynBio’s use in a wide range of industries, let’s dive into the science behind it. In order to understand the mechanics of SynBio, it’s important to explore the relationship between DNA and protein production.

Proteins are the drivers of life in a cell—they’re responsible for carrying out all of life’s functions. They are created through a process called protein synthesis, which relies heavily on DNA. Why is DNA so important in protein production? Because it houses all the information a cell needs for protein synthesis.

Once a protein is formed, it embarks on a complex journey throughout the cell, interacting with a number of other proteins and cellular components to perform functions needed for the cell’s survival.

This process of protein production and cellular interaction is an example of a biological system. And it’s this biological system that synthetic biologists investigate, and try to manipulate.

The Five Main Areas of Research

After combing through the literature, we identified five major areas of SynBio research:

  • In silico Synthetic Biology
    Meaning “via computer”, this area of SynBio research uses computational simulations to design and predict new biological systems. It’s like using a drawing board before starting a project.
  • “Unnatural” Molecular Biology
    An area of research focused on altering the smallest unit of DNA—nucleotides.
  • Bioengineering
    This area of research deals with larger segments of DNA like genes or chromosomes, and sometimes other cell components that interact with DNA. It aims to create new proteins or protein systems and is the most popular area of SynBio research.
  • Synthetic Genomics
    Focused on altering and manipulating whole genomes (which is the complete set of a cell’s DNA).
  • Protocell Synthetic Biology
    This field of research aims to construct whole cells. This is a step towards creating organisms that are entirely synthetic

While early research in SynBio struggled to finish real-world projects, innovation in this field has ramped up quickly in the last decade.

Synthetic biology products are becoming increasingly more pervasive in everyday life—so much so that by 2030, some scientists believe most people will have eaten, worn, or used something created through synthetic biology.

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Business

How Powerful is Your Passport in a Post-Pandemic World?

Ranking the the world’s most powerful passports based on access to visa-free destinations. Where does your country fall on the list?

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How Powerful is Your Passport in a Post-Pandemic World?

With COVID-19 cases falling in many parts of the world and vaccination programs ramping up at warp speed, international travel no longer seems like a distant dream.

The Henley Passport Index, which has been regularly monitoring the world’s most travel-friendly passports since 2006, has released its latest rankings and analysis.

The most recent data provides insight into what travel freedom will look like in a post-pandemic world as countries selectively begin to open their borders to international visitors.

Prominent Countries Still Holding Strong

The rankings are based on the visa-free score of a particular country. A visa-free score refers to the number of countries that a passport holder can visit without a visa, with a visa on arrival, or by obtaining an electronic travel authorization (ETA).

Without considering the constantly changing COVID-19 restrictions, Japan firmly holds its position as the country with the strongest passport for the 4th year in a row.

This positioning is based on exclusive data from the International Air Transport Association (IATA)—with Japanese passport holders theoretically able to access a record 193 destinations from around the world visa-free.

The last time Japan didn’t hold the number one position was back in 2017, when it shared the 5th spot with countries like the United States, New Zealand, and Switzerland.

Rank (2021)CountryVisa-Free Score (2021)Rank (2011)Visa-Free Score (2011)
1🇯🇵 Japan1934170
2🇸🇬 Singapore1929164
3🇩🇪 Germany1912172
3🇰🇷 South Korea19110163
4🇫🇮 Finland1901173
4🇮🇹 Italy1903171
4🇱🇺 Luxembourg1903171
4🇪🇸 Spain1904170
5🇦🇹 Austria1896168
5🇩🇰 Denmark1891173

Singapore remains in 2nd place, with a visa-free score of 192, while Germany and South Korea again share joint-3rd place, each with access to 191 destinations.

Throughout the 16-year history of the Henley Index, EU countries have maintained a dominant position in the passport strength reports. Finland, Italy, Luxembourg and Spain all hold the 4th position while Austria and Denmark round up the top 5 with a visa-free score of 189.

CountryRank (2011)Rank (2021)Difference
🇺🇸 United States57-2
🇨🇦 Canada990
🇲🇽 Mexico29236
🇬🇧 United Kingdom37-4
🇧🇷 Brazil25178

The United States and the United Kingdom jointly share the 7th position with a visa-free score of 187 destinations. Canada, Mexico and Brazil hold the 9th, 23rd and 17th positions respectively, with Brazil experiencing a significant jump of eight places over the last 10 years.

Editor’s note: Visit the Henley Passport Index site for a full list and ranking of all countries around the world.

The Countries With The Least Travel Freedom

Afghanistan continues to be the country with the least amount of travel freedom, coming in last place (110th rank) with a visa-free score of 26 destinations. Iraq, Syria, Pakistan and Yemen have access to slightly more visa-free travel, but still linger at the bottom of the overall ranking.

Rank (2021)CountryVisa-Free Score (2021)Rank (2011)Visa-Free Score (2011)
110🇦🇫 Afghanistan2610124
109🇮🇶 Iraq2810028
108🇸🇾 Syria299337
107🇵🇰 Pakistan329931
106🇾🇪 Yemen339139

The latest report indicates that the gap in travel freedom is now at its largest since the index began in 2006. Japanese passport holders can access 167 more destinations than citizens of Afghanistan, who can visit only 26.

The Biggest Gainers In a Decade

Over time, small annual moves in the Henley Passport Index can make a big impact—and in the last decade, countries like China and the UAE have been the biggest movers:

China has risen by 22 places in the ranking since 2011 by going from a visa-free/visa-on-arrival score of 40 destinations to now 77.

The most remarkable turnaround story on the index by far, however, is the UAE. In 2011, the UAE was ranked 65th with a visa-free score of 67 destinations. Today, thanks to the Emirates’ ongoing efforts to strengthen diplomatic ties with countries across the globe, it is now ranked 15th with a remarkable visa-free score of 174 destinations.

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