Soccer

SA issues World Cup report

2012-11-23 16:57
2010 logo (supplied)

Johannesburg - South Africa spent more than 27 billion rand ($3 billion) on the 2010 World Cup, and in return gained an "intangible legacy" from the first world football showpiece in Africa, the country's government said Friday in its final report on the tournament.

In the "2010 FIFA World Cup Country Report," released nearly 2 ½ years after the event, South Africa's government said it spent $1.1 billion on building and upgrading stadiums alone.

Transport was the biggest cost, with $1.3 billion dedicated to improving road, rail and air links and a further $392 million on the country's main ports of entry.

In the absence yet of any final definitive figures on how much South Africa earned in total from being the host, the report said the World Cup had left an intangible legacy of pride and unity among South Africans and had changed the country's image as undeveloped, crime-ridden and dangerous in the eyes of the rest of the world.

"To top it all, we didn't have lions roaming the streets and we did have ATMs," the report, published by the ministry of sport, added light-heartedly.

It did predict a $6 billion boost to South Africa's economy as a result of the monthlong World Cup, according to a study by risk analysis and finance company Grant Thornton, but that was a mid to long-term projection.

FIFA reported it made a $631 million profit from the 2007-10 World Cup cycle and earned income of $3.65 billion from 2010 World Cup contracts. FIFA said it spent $1.298 billion on the World Cup in South Africa and also gave $100 million to the World Cup Legacy Trust, a fund that supports grassroots football projects.

"The World Cup in South Africa was a huge, huge financial success for Africa, for South Africa and for FIFA," FIFA president Sepp Blatter said in 2011 as the world body published its own financial report.

While critics have said that such a huge outlay on a 30-day sports event was impractical for South Africa — and the final word on whether it was an economic success was still pending — the government could argue that it had already earned over $400 million from the more than 300,000 tourists that visited for the World Cup.

The upgrade to much of South Africa's transport infrastructure was a long-term investment, the government said.

The expensive World Cup stadiums are still underused, however, and some are losing money. The Cape Town Stadium — reportedly the most expensive of the seven new venues at $600 million — is in the most trouble.

"This report will also serve as a reference guide and benchmark for planning other major sporting events," South Africa's government said in a statement to introduce the publication, which featured the 2010 World Cup logo and was embossed with shiny gold letters.

South Africa has said it is considering a bid to host the 2024 Summer Olympics, the biggest of all sporting events.

Read more on:    soccer
NEXT ON SPORT24X

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

 

Hottie of the day: Charlotte

Meet our hottie of the day, Charlotte. She feels sexiest after a good workout at the gym!

 
 

Men24.com

This is why guys shouldn’t be in photos
BMW drift battle: M235i vs. speedway bike
Want to start talking dirty?
And this year's Miss Bumbum title goes to...
 
 
/Sport
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs
Vote

Where should Rivaldo Coetzee play his soccer next season?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.