World Cup safe from global crisis

Africa has waited decades to host its first soccer World Cup and now that it's about to ... there's an unprecedented global economic crisis.

The recession has impacted every country, raising fears for the planet's most watched sporting event, which kicks off a year from today (11 June 09).

Yet not even the worst crisis since the Great Depression seems likely to deter millions of fanatical football fans or big commercial sponsors.

Instead, the tournament is set to give South Africa a strong economic boost at its own time of need.

Soccer also has a special weapon - millions of loyal fans whose passion for the sport will not diminish regardless of the economic climate. Relatively cheap prices in South Africa and the weak rand currency may also help.

Tonic for growth
Besides, the tournament may be just the thing to lift spirits at a time of global gloom.

Applications for the first tranche of match seats are oversubscribed across the globe, even before the final line-up is decided in November.

There are no more early tickets available for the opening match, the semi-finals and final. The same applies to the matches in three host cities - Cape Town, Nelspruit and Pretoria.

Due to high demand, FIFA is for now no longer making team-specific tickets available for England, Brazil, Argentina, Australia, Ireland and the Netherlands.

South Africans love sports and have embraced other events despite budget constraints, as evidenced by the glitzy, month-long IPL Twenty20 cricket tournament that was moved from India at short notice in April with great success.

Nomura International estimates the World Cup will add about 0.6 to 0.7 percent to South Africa's economic growth in 2010.

The country has poured billions of dollars into infrastructure spending for the World Cup, leaving construction as virtually the only industrial sector left standing in the recession.

Newly-elected President Jacob Zuma, trying to combat scepticism about his ability to maintain stability and growth, has vowed to do everything possible to ensure the tournament's success.

"We have, as government and the nation at large, pledged that the World Cup will leave a proud legacy from which our children and our communities will benefit for many years to come," he said in his first state of the nation speech last week.

"We are on track to meet all our obligations and are determined to give the world the best World Cup ever," Zuma said.

Reuters Read full story at www.sagoodnews.co.za