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Anton Kuchukhidze: what will happen to Ukraine's economy after the war?

During the war, many experts focus on estimating economic losses. This is only logical, since any hostilities, especially of such a scale and intensity that we are witnessing in Ukraine today, cause billions of dollars in losses and hinder the development of most of the economy sectors. However, I believe that after the war, Ukraine will experience unprecedented economic growth.

In addition to destruction and suffering of millions, russia’s war against Ukraine has brought severe economic consequences for our nation. Today, more than 60% of companies and businesses have terminated or significantly reduced their activities. Of course, gambling is no exception. Infrastructural damage following the first month of the war is already estimated at hundreds of billions of dollars. Entire cities are razed.

At the same time, if you look at Ukraine’s economic prospects after the war, they are quite positive. There are several clear indicators that we already see today.

(1) The concept of Global Ukraine replaced the idea of ordinary Ukraine. In just over a month of war with russia, Ukrainian resistance to the aggressor has become the number one issue on the global political agenda. We not only received strong support from Western partners and became an example of a highly effective resistance to a powerful aggressor, but also brought about global political and economic changes in Europe. Today, civilized Western countries take Ukraine much more seriously than they did a month ago and wish to work with us and provide full support. Powerful States began to see Ukraine as a backbone factor in European and global security. That is why our State is becoming more and more subjective.


(2) President of Ukraine. Today, President Zelensky is one of the world’s most influential politicians, as acknowledged by everyone, from leading international publications to Western institutions and political leaders of countries that have never been our State’s “friends”.

(3) Image. Ukraine is supported not only by governments and international organizations, but also by ordinary people around the world. The support of our State by public organizations, volunteers and ordinary citizens in other countries is unprecedented in the modern European history. The humanitarian and military support from non-public sources amounts to hundreds of millions of euros. Every day, dozens of European cities hold rallies in support of Ukraine. Our State today is the embodiment of the fight for freedom, independence and democracy.

(4) Russia’s isolation and decline. Today, Ukraine fights and wins, while Russia attacks, destroys and commits thousands of war crimes, closing in upon itself and falling into decay. And this is a clear message to all other authoritarian countries willing to achieve their shameful political interests through war.

What is this all about?
Today, Ukraine is at the forefront of the fight against absolute evil threatening the entire European continent. Also, our actions, both military and diplomatic, are highly effective. Step by step, our struggle is turning us into the centre of the European region.

After we claim victory, we will not only become more powerful politically and economically, but we will also become a highly attractive place to work and invest. It will become prestigious to work in the Ukrainian market, since it will become a symbol of support for democracy and peoples’ struggle for freedom. Global Ukraine will also become more competitive than russia, since the war has shown that by investing in the russian federation, one can lose both reputation and money, as well as face risks when entering the aggressor’s market. The Global Ukraine’s market versus isolated russia… clearly, the investor will choose our State.

In this sense, gambling is no exception. I am sure that Western gambling companies and investors will also take an active part in the post-war development of the Ukrainian economy, despite all the challenges they face today.

It is clear that the gambling industry, especially the land-based gambling, will need government support. However, it will be much easier for companies to carry out their activities, because the end of the war will bring unprecedented opportunities for the development of various sectors of the Ukrainian economy, as well as its further globalization.

Anton Kuchukhidze, Chairman of the Ukrainian Gambling Council, exclusively for the Ukrainian News
Anton Kuchukhidze