US

This World Cup Is Going To Do Little For The South African Economy

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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