Friday, March 19, 2010

FIFA World Cup: Impact On The Economy


According to information released by the National Treasury the total amount committed by the National Government to FIFA World Cup-related infrastructure amounted to R33billion.

Some 130 200 job opportunities were created in the construction of 10 stadiums ,6 which were constructed from scratch.

The cost of transport upgrading amounted to R12.9billion, including the introduction of the Bus Rapid Transport System and the Gautrain.
The expenditure on safety and security measures amount to R1.3billion

Telecoms and broadcasting expenditure will be R1.5billion.
Host Cities will receive R0.72billion from the National Government for World Cup related activities.

It is estimated that 450 000 foreign visitors are expected and 5 participating National Teams will do their preparation within the Kwa Zulu- Natal Province.
Public health and disaster management expenditure will be in the order of R 0.82billion.

Ports of entry infrastructure attracted R3.5billion.
Volunteers recruited for the event will be 10 000.
0.02 percentage points is the estimated average annual impact the event will have on the real GDP growth from 2007 to 2013.

R4.9billion is what the event will contribute to the real GDP in 2010.

Pieter Rautenbach

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