On air: Does staging the World Cup benefit the host country?
I'm dreaming, I'm dreaming. It's so beautiful -- wake me up! We want to say to the world - Thank you for helping this worm to become a beautiful butterfly.
This is what a very exited Archbishop Desmond Tutu said last night at the World Cup Concert in Soweto.
As the biggest sporting event starts today in South Africa, many of you are discussing if there are benefits to hosting a World Cup and if it is good for business.
Time Magazine in this atticle says that the World Cup has become such a force that it triggered a cease-fire in the civil war in Ivory Coast, caused stock markets of losing nations to tumble and catalyzed a spike in the birthrate of the 2006 host, Germany. And that hosting the World Cup allowed Germans to express a nationalist spirit that had been understandably dormant for 60 years.
When France hosted the world cup in 1998, this economist Alexander Law - an french economist says :
"What the World Cup did was increase maybe consumer confidence and gave that sort of wave of euphoria which lead to stronger consumer spending,"
Smooth5PFM: tweets FIFA World Cup is going to be Crazy,South Africa can raise a lot of money "Let's Go TeamBrazil".
Lauri Elliott in this article Afribiz says he hopes foreign investment will come into South Africa.
This blogger says that despite the South African government spending $5 billion dollars on the World Cup there wont be large economic benefits for South Africa.
One thing that is guaranteed says this blogger is that:
South Africans may not economically benefit from the tournament but the tournament will offer sheer joy and enjoyment as they watch top football teams compete each other .
So is it worth hosting a major sporting event like the World Cup or the Olympics if the country doesn't gain from the event?