http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.13Change: 0.07
R/$ = 11.56Change: 0.00
Au 1171.05 $/ozChange: -25.87
Pt 1178.50 $/ozChange: -19.00
 
 
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
Updated 4 hours ago Ailing German engineering and services company Bilfinger SE has agreed to sell most of its construction division to Swiss building giant Implenia as it seeks to focus on more lucrative industrial services. Bilfinger – which has issued four profit warnings this year,...
The battle for the assets cement firms Lafarge and Holcim must sell to get the go-ahead for their merger will likely be between three groups, several people familiar with the matter said. The three groups expected to hand in binding bids by a mid-January deadline...
Infrastructure spend in sub-Saharan Africa will grow from $70-billion in 2013 to $180-billion by 2025, says PwC capital projects and infrastructure Africa leader Jonathan Cawood. This is one of the findings of PwC’s Capital Projects & Infrastructure report on East...
More
 
 
Latest News
Updated 4 hours ago Ailing German engineering and services company Bilfinger SE has agreed to sell most of its construction division to Swiss building giant Implenia as it seeks to focus on more lucrative industrial services. Bilfinger – which has issued four profit warnings this year,...
China appears to have been routinely underestimating output from its sprawling steel sector, with official figures for last year alone 40-million tonnes below a key industry estimate - an amount equivalent to Germany's entire annual production. Beijing has vowed to...
Lumwana, Zambia
Canada’s Barrick Gold Corp will suspend operations at its Lumwana copper mine, in Zambia’s Northwestern province, after the country enacted legislation that raised the royalty rate on openpit mining operations from 6% to 20%. TSX- and NYSE-listed Barrick, the world’s...
More
 
 
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
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.
 
 
 
 
 
This Week's Magazine
South Africa remains an important manufacturing and export platform for Ford Motor Company, says executive chairperson Bill Ford. However, he adds that other countries on the continent are “becoming interesting”, and that the US carmaker is casting its net wider for...
TO BE PHASED INTO SERVICE The first MeerKAT dish, with another 63 to come
Germany’s Max-Planck-Society (MPG) and the Max-Planck-Institute for Radio Astronomy (MPlfR) are investing €11-million (about R150-million) into South Africa’s MeerKAT radio telescope array programme. The money will be used to design, build and install S-band radio...
Infrastructure spend in sub-Saharan Africa will grow from $70-billion in 2013 to $180-billion by 2025, says PwC capital projects and infrastructure Africa leader Jonathan Cawood. This is one of the findings of PwC’s Capital Projects & Infrastructure report on East...
Private-owned defence and aerospace manufacturer Paramount Group and the Ichikowitz Family Foundation unveiled its Anti-Poaching Skills and K9 Training Academy in Magaliesburg last month.
MATT BARKER Wireless networks should enable users to engage and must provide relevant information to them based on their activity and location
The inclusion of Bluetooth to provide sub-three meter accuracy and heightened functionality for users is one of the ways to change existing wireless networks into engagement networks. An engagement network differs from common wireless networks in that it enables the...
 
 
 
 
 
 
 
 
 
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