A Cadiz Securities investigation contends that the effect of the tournament will be far more “muted than much of the current local optimism would suggest”.
The research report, by analysts Shamil Ismail and Jasmine Lin, cites data from the 2002 World Cup in Korea and Japan, showing that tourism numbers and retail sales may not necessarily spike. Tourist arrivals in South Korea actually declined during the tournament.
World Cup bonanza not a given
Business Day
January 29, 2010
