The 2010 Soccer World Cup will contribute at least R51,1-billion to gross domestic product (GDP) between 2006 and 2010, R21-billion more than estimated during the bidding phase of the World Cup in 2003.
Of this revised amount, R15,6-billion will be created by foreign tourists, Business Report wrote on Monday.
The revised estimates are from the World Cup’s economic impact assessment study by Grant Thornton’s tourism, hospitality and leisure consulting division.
Gillian Saunders, the principal of this division, said the amount had more than doubled because of the changes since the bid was submitted four years ago.
”A huge chunk of it comes from infrastructure, particularly the transport infrastructure, because government is now spending five to six times more than what they had initially planned to spend,” said Saunders.
”We also have more stadiums because the number has increased,” she said.
”The seating at Port Elizabeth, Cape Town and FNB stadiums has changed from what it was, so that means more tickets would be sold.”
During the bidding phase it was said that 2,7-million tickets would be sold and total ticket revenue was expected to be R4,6-billion.
Now the ticket number has increased to 3,2-million.
The revised estimates of the impact of the World Cup on the economy include direct expenditure of R30,4-billion, up from R12,7-billion initially. – Sapa