Congratulations to South Africa for winning the 2010 Football (Soccer) World Cup. If I am not mistaken, it will be the first African country to host the most popular tournament in the world.
This offers a lot of opportunities for entrepreneurs. Even though the games put the country on the world map and do a lot for the economy there’s a hidden catch: it does cost millions to make everything happen and usually countries are left indebted for many years following the tournaments.
That explains why some of the tax payers were against the bid.
If anyone knows of a study that shows the impact of sports events such as the Football World Cup or the Olympic games on a country’s economy in the short and long-term, I would be more than grateful if you could email me a link.
But that’s the wanna-be economist in me talking… as a moderate football or soccer fan, I am happy that the games are going to beautiful South Africa. WIth life being so cheap there from a North American perspective, it sure makes a place to be in 2010.
