A multi-layered legacy
THE LAST OF THE FIREWORKS had barely heralded the end of a successful 2010 FIFA Soccer World Cup when South Africans began debating the event’s legacy for future generations. Statistics and analysis will feature strongly in the months and years to come as researchers dissect the impact on GDP and foreign direct investment, and already the picture is unfolding.
“ The latest numbers are coming in, but it’s a bit of a jigsaw puzzle,” said Gillian Saunders, Director of Grant Thornton Strategic Solutions and Head of Grant Thornton Specialist Advisory Services, at the recent World Cup Legacy Forum held at the Gordon Institute of Business Science (GIBS).
For now, it’s a case of conjecture until more meaningful figures come in, agreed Professor Adrian Saville, a senior faculty member at GIBS and Chief Investment Officer of Cannon Asset Managers. “It’s very difficult for the economists to unravel. For example, I’ve been looking at Visa spend which is up 66% year-on-year. Which suggests people didn’t just come for the soccer but to experience the event.” Saunders shared other encouraging data too, such as:
- to overseas foreigners and 2% to fellow Africans.