What?
South Africa has spent £3bn to build stadiums and infrastructure for the 2010 FIFA World Cup, expecting it to be a boost for their economy. But what the numbers say so far is that the country isn’t doing too well with getting its investment back, with only 10% of total being recovered (£323m out of the £570m initially projected).
John Saker, chief operating officer of KPMG Africa, said: “The big boost didn’t happen. Businesses that directly served the World Cup did relatively well, but those without direct involvement struggled.”
However, Mr Saker said South Africa would continue to benefit from “word of mouth and goodwill for years to come”.
I bet they’re going to improve so many things with that goodwill budget.
