The staging of the 2010 Soccer World Cup in South Africa would contribute more than R20-billion to the country’s gross domestic product with about 160 000 new employment opportunities being created, says Sports Minister Ngconde Balfour.
Addressing a media briefing in Parliament on Tuesday — flanked by SA 2010
Bid CEO Danny Jordaan — the minister said the bid committee had commissioned an economic impact study ”that looks very promising in terms of the potential benefits of hosting the event in South Africa”.
The minister reported that the committee predicted that tickets worth R2,72-million will be sold, generating revenue to the tune of R4,6-billion.
Capital expenditure on the upgrades of stadiums and other infrastructure would amount to R2,3-billion ”and the event would lead to direct expenditure of R12,7-billion while contributing R21,3-billion to the country’s GDP. Also, 159 000 new employment opportunities will be created and R7,2-billion rand will be paid to government in taxes.
”It is clear that staging the Soccer World Cup in South Africa in 2010 will create significant direct and indirect economic benefits for the country’s economy.”
Balfour said: ”This strengthens my department’s case for adopting a long-
term major events-hosting strategy that I will be putting to Cabinet for adoption.” — I-Net Bridge