http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.13Change: 0.09
R/$ = 11.05Change: 0.05
Au 1244.95 $/ozChange: 5.63
Pt 1272.00 $/ozChange: 9.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Jul 30, 2010

SA’s hosting of FIFA World Cup brought economic benefits

Back
Construction|Johannesburg|Africa|Gautrain|KPMG|Pipelines|PROJECT|Roads|Africa|Brazil|South Africa|Gautrain|Building|Product|Transport|Gautrain|Devon Duffield|Frank Blackmore|Gautrain|Infrastructure|Power|Trevor Fowler|Cables|Pipelines|2010 World Cup|The 2020 FIFA World Cup|The 2020 Olympic Games|The Soccer World Cup|World Cup
Construction||Africa|Gautrain|Pipelines|PROJECT|Roads|Africa||Gautrain|Building|Transport|Gautrain|Gautrain|Infrastructure|Power||Cables|Pipelines|
construction|johannesburg|africa-company|gautrain-company|kpmg|pipelines-company|project|roads|africa|brazil|south-africa|gautrain-facility|building|product|transport-industry-term|gautrain-organization|devon-duffield|frank-blackmore|gautrain|infrastructure|power|trevor-fowler|cables|pipelines|2010-world-cup-sports-event|the-2020-fifa-world-cup|the-2020-olympic-games|the-soccer-world-cup|world-cup
© Reuse this



The hosting of the 2010 FIFA World Cup, which has pumped an estimated R93-billion into the local economy, has rebranded South Africa and created a favourable climate for direct foreign investment and tourism growth, says KPMG senior economist Frank Blackmore.

"One does not have to be an economist to know that things went well," he said at a KPMG post-2010 World Cup panel discussion in Johannesburg this week.

The June 11 to July 11 sporting event contributed around 0,5% to South Africa's yearly gross domestic product growth, and from around 4% to 6% to the country's quarterly growth.

Currently, South Africa's tourism rate is around 20% higher than it would normally have been for this season of the year, and it is believed that for every ten tourist coming into the country, one job opportunity is created.

A recent survey by African Response found that 96% of World Cup visitors to South Africa said that they would possibly return to the country, while 92% would recommend the country to friends and family as a holiday destination.

Murray & Roberts construction executive director Trevor Fowler, who also participated in the KPMG panel discussion, said that the money spent on infrastructure for the event had provided South Africa, as a developing country, with some "much-needed" infrastructure.

"Our roads have seen great improvement, public transport has been elevated to a level not experienced in the country before, we have built stadiums of the highest global standards and hotels, accommodation and other facilities had been constructed that can now be used by the people of South Africa, tourists entering its borders and other sporting events.

"In fact, the country had already received some enquiries from Brazil, that will be hosting the next World Cup in 2014, to assist them in their planning efforts."

Fowler further said that the Gautrain, for instance, had far exceeded expectations. "We initially estimated that between 3 000 to 6 000 people a day would use the train, and currently we are seeing around 13 000 people using the train a day on weekdays and 20 000 people on weekends.

"This has also shown us that a significant public private partnership, such as the Gautrain project, can be executed with great success."

Blackmore also pointed out that the almost R800-billion infrastructure "cracker" helped mitigate the effects of the global recession. "While the rest of the world were licking their financial wounds, we here in the south were beavering away."

Meanwhile, with South Africa's newly found confidence in hosting big sporting events, the country has indicated that it would consider putting in an official bid for the 2020 Olympic Games.

However, Fowler pointed out that this would essentially be quite different to hosting the soccer World Cup, seeing that there were a large number of different sports and events, and thousands of athletes that would have to be accommodated in one city over a three-week period.

He said that a lot of new infrastructure would be needed, such as large swimming pools and athletic tracks that would not necessarily be that easy to use after the event.

Nevertheless, Fowler said that the building of the infrastructure, especially in a developing country such as South Africa, could be beneficial.

He pointed out that government was also keen on continuous investment in the country's infrastructure, and that a national infrastructure plan was currently in development and would be put in place by the end of the year. "This also includes things such as pipelines, undersea cables and power infrastructure."

All in all, KPMG audit director Devon Duffield said that all the money that was spent during the 2010 World Cup was still circulating in South Africa, and that money that was circulating faster defined the creation of wealth.

 

 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
President Jacob Zuma has officially opened the Department of Environmental Affairs’ (DEA’s) new green head office, in Pretoria, describing it as an event that would usher in a new green-focused era for the South African construction industry. “[This building] will...
Despite South Africa’s industrial property sector outperforming the retail and office property markets, the fundamentals were not conducive to major expansions, investment analysis and market indexcompany MSCI subsidiary IPD executive director Stan Garrun said on...
Article contains comments
GRI Renewable Industries is investing in a R300-million wind-tower factory
The Western Cape government’s GreenCape sector development agency is finalising work on an application to have the Atlantis industrial area designated as a green-technology (greentech) special economic zone (SEZ). Atlantis SEZ project executive Mike Mulcahy tells...
Article contains comments
More
 
 
Latest News
Medupi power station
Updated 45 minutes ago State-owned power utility Eskom on Monday said it has successfully achieved the first oil fire for Unit 6, the first of the Medupi boilers at the developing power station in Limpopo. With the first oil fire, using liquefied petroleum gas and fuel oil, now achieved,...
Updated 1 hour 8 minutes ago After a R1.5-billion impairment charge resulted in Hulamin reporting negative earnings per share (EPS) of 422c for the 2013 financial year, the aluminium supplier said on Monday that EPS and headline earnings per share for the 2014 financial year were expected to...
Updated 3 hours ago In a bid to progress its contentious nuclear build programme and increase the contribution of nuclear energy to the country’s overall energy mix, government reiterates it is in talks with various prospective nuclear vendors over nuclear technologies that could...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
IAN EVANS AirWatch file synchronisation and sharing system was initially designed for a large airline company
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks