http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 16.31Change: -0.01
R/$ = 14.22Change: 0.03
Au 1292.99 $/ozChange: 1.84
Pt 1079.50 $/ozChange: 3.50
 
 
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 Letters About Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Jul 30, 2010

SA’s hosting of FIFA World Cup brought economic benefits

Back
Construction|Africa|Building|Gautrain|Pipelines|Power|PROJECT|Roads|Tourism|transport|Africa|Gautrain|Product|Gautrain|Gautrain|Infrastructure|Cables
Construction|Africa|Building|Gautrain|Pipelines|Power|PROJECT|Roads|Tourism|transport|Africa|Gautrain||Gautrain|Gautrain|Infrastructure|Cables
construction|africa-company|building|gautrain-company|pipelines|power|project|roads|tourism|transport|africa|gautrain-facility|product|gautrain-organization|gautrain|infrastructure|cables



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
Creamer Media Senior Researcher and Deputy Editor Online

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
 
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Infrastructure News
South Africa lacks the skills necessary to implement the government’s plan to build 9.6 GWe of new nuclear energy capacity, warns nuclear-qualified Quality Strategies International CEO David Crawford. “Apart from the concern about the affordability of the programme,...
PARTNERSHIP DEAL Helen Botes and Neil Gopal shake hands at the announcement of the property development programme
State-owned company the Johannesburg Property Company (JPC) is partnering with the South African Property Owners Association (Sapoa) in a municipal property development project valued at R12-billion, which aims to enhance the use of municipal-owned land within the...
The success of the Department of Energy’s (DoE) Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) is a shining example of South Africa’s ability to undertake large infrastructure programmes to boost the local economy, despite the current...
More
 
 
Latest News
Environmental Affairs Minister Edna Molewa
Cabinet has extended the contract of Department of Environmental Affairs (DEA) director-general Nosipho Ngcaba and approved the appointment of Limpho Makotoko as the new DEA COO.     “Under the leadership of Ngcaba, the DEA has consistently received clean and...
Mzwandile Masina
The Department of Trade and Industry (DTI) has invited companies to participate in a trade and investment mission to Ghana and Nigeria from August 8 to 12.   Companies in the agriculture and agroprocessing sectors, built environment professionals, automotive and...
Cabinet has approved the Industrial Policy Action Plan (Ipap) 2016/17 to 2018/19, which seeks to achieve a higher-impact industrial policy in difficult economic circumstances, including the difficulties faced by the domestic steel industry and the drought which has...
More
 
 
Recent Research Reports
Automotive 2016: A review of South Africa's automotive sector (PDF Report)
Creamer Media’s Automotive 2016 Report provides an overview of South Africa’s automotive industry over the past 12 months. The report provides insight into local demand and production, vehicle imports and exports, investment and competitiveness in the sector, as well...
Energy Roundup – April 2016 (PDF Report)
The April 2016 roundup covers activities across South Africa for March 2016 and includes details of a North Gauteng High Court Judge’s dismissal of a court application to postpone the 9.4% electricity tariff increase, which the National Energy Regulator of South...
Electricity 2016: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2016 report provides an overview of South Africa’s electricity sector, focusing on State-owned power utility Eskom and independent power producers, electricity planning, transmission, distribution and the theft thereof, besides other issues.
Energy Roundup – March 2016 (PDF Report)
The March 2016 roundup covers activities across South Africa for February 2016 and includes details of the Department of Energy’s plans to announce the preferred bidders for the first tranche of the coal independent power producer procurement programme; the Council...
Steel 2016: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2016 Report examines South Africa’s steel industry over the past 12 months. The report provides insight into the global steel market and and particularly into South South Africa’s steel sector, including production and consumption, main...
Construction 2016: A review of South Africa's construction industry (PDF Report)
Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic...
 
 
 
 
 
This Week's Magazine
The two spent-fuel pools at Eskom’s 1 800 MW Koeberg nuclear power station, in the Western Cape, will be full by 2018, increasing the urgency on the State-owned utility to begin pursuing alternative storage options. Koeberg has, over the past 32 years, accumulated a...
South Africa lacks the skills necessary to implement the government’s plan to build 9.6 GWe of new nuclear energy capacity, warns nuclear-qualified Quality Strategies International CEO David Crawford. “Apart from the concern about the affordability of the programme,...
DOROS HADJIZENONOS The 700-series devices provide network security monitoring, app control, URL filtering, VPN security, antivirus, antispam, antibot, and advanced intrusion prevention and detection functionality
Cybersecurity multinational Check Point has released its latest 700-series cybersecurity systems for small businesses, which draw on its international threat intelligence to provide up-to-date cybersecurity, says Check Point South Africa country manager Doros...
Daimler Trucks and Buses Southern Africa (DTBSA) saw a marked slip in new-vehicle sales in 2015 compared with 2014, with sales dropping from 5 897 units to 5 300 units. The decline came as the South African new truck and bus market declined from 31 558 units in 2014...
Group of 20 (G-20) economies threatened to penalise havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion. The G-20 will consider “defensive measures” against financial centers and...
 
 
 
 
 
 
 
 
 
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
Subscribe Now for $149 Close
Subscribe Now for $149