Stefan Szymanski from Cass Business School spoke to CNBC this morning about the long term impact of the World Cup on South Africa. He’s not particularly positive.
- 0:45 There is a feel good factor, but there is a limited long term impact, if any, and the short term is just as weak.
- 1:20 Spent money on infrastructure, specifically stadiums, that will have little use thereafter. Could have been spent better elsewhere.
- 2:00 Many people will avoid South Africa during the tournament, and the tournament is what people are watching, not the country, so it is unlikely to increase tourism.
- 2:40 There is no evidence that winning teams experience an economic boom in their country. Perhaps beer and wine, but even that is limited.
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