Solely 25 of the roughly 200 nations and associations that make up FIFA match S&P DJI’s definition of developed markets, Freer mentioned. But these 25 international locations account for greater than 40% of the international locations – 15 out of 32 – that certified for the 2022 finals; additionally they counted for greater than 60% of the groups who proceeded to the spherical of 16.
“Whereas Brazil is the favourite to be within the World Cup Last on Dec. 18, 2022, kind apart, evidently international locations from the developed markets cohort could have the best chance of World Cup success,” Freer mentioned, noting that six of the eight World Cup Finals held because the launch of the S&P International BMI in 1989 have been gained by developed international locations.
Relative their weighting and variety of firms represented within the S&P International BMI, he mentioned Canada, Germany, and Denmark have been underperforming when it comes to their international market stature and footballing prowess, as they didn’t progress past the group stage at this 12 months’s competitors.
“Whereas Argentina, Brazil and Croatia have outperformed their market stature, they’re extremely positioned of their FIFA rankings—so this isn’t surprising,” Freer added. “Stunning outperformers can be Morocco, Ghana and Senegal primarily based on their restricted investable market stature.”