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SA has begun reaping rewards of staging World Cup, says Deloitte

June 21, 2010 Edition 1

JOHANNESBURG: The hosting of the World Cup presents an economic turning point for South Africa, says Deloitte Touche Tohmatsu.

International communities were not only watching their countries fight for the cup, but were witnessing a South Africa that continued to emerge as a competitive 21st-century economy, the consultancy said in a paper entitled "2010 Fifa World Cup, a turning point for South Africa".

"South Africa is reaping the rewards of hosting the cup - namely infrastructure improvements, an economic boost, and increased national self-esteem," it said.

South Africa had been described as a mix of the developed and developing world, said Deloitte Southern Africa public sector industry leader Lwazi Bam.

"On the one hand, a strong technological and economic base put it on a par with the well-developed nations of the world.

"On the other, infrastructure shortfalls have contributed to keeping it from realising its full economic potential."

Bam said the World Cup had served as a catalyst for much-needed improvements to infrastructure.

South Africa had realised many of the benefits hoped for by a host of a major international sporting event, said Deloitte Touche Tohmatsu global public sector industry leader Greg Pellegrino.

"The event has (boosted) national infrastructure improvements, increased employment during hard times ... and provided a unifying rallying point for a still-developing nation."

It had also brought renewed attention to the need for greener power.- Sapa