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The 2010 FIFA World Cup is imagined to pump $7.46 billion (55 billion rand) into the South African economy, according to the Deputy Minister of Water and Environmental Affairs, Rejoice Mabudafhasi.
Auditing company Grant Thorn carried out the economic impact appraisal for South Africa hosting the World Cup and found that not only would the event pump wealth of this proportion into the local economy, but also generate about 415,000 new jobs, a Bua News report quoted the minister as saying.
"Moreover, the country's Gross Domestic Product (GDP) will be boosted by 33 billion rands in direct spending on stadiums and infrastructure, while soccer fanatics will spend some 8 billion rand and tickets sales will generate 6 billion rand," she said.
The firm also found that the government would earn about 19 billion rand ($2.51 billion) in tax revenue, the report said.
"Given the scenario ... it is an event of significant and far-reaching economic impact," said Mabudafhasi.
She was speaking at the launch of the Green Goal 2010 programme, which includes the demonstration and contribution to the endeavours towards raising awareness, reducing waste, diversifying and using energy efficiently, using water sparingly, minimising and compensating carbon footprint was under way.
The programme will be put into practice in all the ten host cities.
