Friday, July 23, 2010

$12 Billion Boost

The South African government has announced that hosting the World Cup has boosted the country's economy by about 93 billion Rand (~$12 billion USD).

The South African government pumped R30 billion into transport and telecommunications infrastructure and 10 stadiums, which created 66 000 new construction jobs and saw R7.4bn paid over in wages, with R2.2bn going to low-income households.

Upgrading trains and roads took care of R13bn, while R20bn was spent on airports development and R3.5bn on renovations at ports of entry. Another R1.5bn was spent on broadcast technology and R1.3bn on safety and security, including the deployment of 40 000 extra police.

Maseko rejected predictions that World Cup stadiums would become white elephants in the wake of the tournament. "During the bidding process all host cities were made to submit plans about how the stadiums would be used after the tournament," he said.

World Cup's R93bn boost for SA
Pretoria News
July 15, 2010