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Predicting the economic impact of the 2010 FIFA World Cup on South Africa

Predicting the economic impact of the 2010 FIFA World Cup on South Africa,10.1504/IJSMM.2008.017214,International Journal of Sport Management and Mark

Predicting the economic impact of the 2010 FIFA World Cup on South Africa   (Citations: 6)
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Abstract: The impact ,of the ,sporting industry on economic ,decision ,making ,has ,increased dramatically,since the global media,explosion in,the 1980s. Tourism and advertising revenues generated,by mega-events,such as World Cups or Olympic Games,have,become,a major boost to the economies of hosting nations. In addition,globalisation has placed great emphasis on the importance of Foreign Direct Investment (FDI), especially to developing countries. This paper ,seeks ,to examine ,the impact ,of the ,2010 FIFA World Cup on the ,South African economy. Using a 32-sector Computable General Equilibrium (CGE) model, the various shocks onthe economy, such as infrastructure developments, increased tourism and financing implications, are modelled. Results are shown and carefully explained within the context of the model. It is found that in the short term, there would only be a favourable outcome in the economy,should ,financing ,be shared ,between ,higher ,present ,taxes and ,revenue ,generated from future economic,growth and private investment. Keywords: Computable,General Equilibrium; CGE; mega-events. Reference to this paper should be made as follows: Bohlmann, H.R. and van Heerden, J.H. (2008)
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