Skyrocketing Stadium Costs Leave Many Wondering

Back in 2004, when South Africa first secured the 2010 World Cup, officials there estimated that they would need to invest about 2 or 3 billion Rand (~$260-390 million) for stadium development. Now, that estimate has climbed to 13 billion Rand (~$1.7 billion), with little to explain the sharp rise.

For months, officials have been predicting the final bill will come in around R13 billion. It is an staggering increase that has never got anything but a flimsy explanation over the last few years.

The economic recession, the price of steel, the volatile South African currency (the Rand) were all cited but never was a detailed explanation offered over the massive escalation.

Cost of World Cup begins to worry South Africa
Reuters
July 17, 2009