Brazil forecasts that around 3.7 million people will visit the country during the World Cup with the money spent by tourists during the tournament expected to benefit the local economy to the tune of $3.03 billion.

Around 1.9 million supporters are expected to visit the country in order to attend matches and FIFA Fan Fests, spending $1.83 billion, while a further 1.8 million visitors will be in Brazil for the tournament adding $1.19 billion. However, the Ministry of Tourism believes the ultimate figure could be even higher.

“The tourism spending being forecast based on the surveys conducted by Brazil’s Ministry of Tourism do not include the indirect and induced financial transactions resulting from these visitors,” said Tourism Minister Vinicius Lages.

“In other words, the total financial turnover for tourism during the 2014 FIFA World Cup may be more than double the anticipated figure if we consider the multiplier effect of these resources in the Brazilian economy.”