Is The World Cup Legacy Worth It?

The article was first published here.

In order to host a World Cup, countries have to go through an arduous bidding process, competing against other nations for the prize of hosting the biggest sporting spectacle on Earth. However, more is promised than just a month long festival of football. When any major sporting event takes place, a lot is said about the legacy that it will leave behind once all the spectators have went home. This is especially true for the World Cup. The hosting nation often builds new stadiums, infrastructure and accommodation. In return for this, an economic stimulus is promised. A World Cup is meant to leave permanent benefits for the host nation, in terms of job creation, increased participation in football and public facilities. But does this happen? We’ve analysed some of the key outcomes of the previous four World Cups to find out.

During the 2002 World Cup, co-hosted by South Korea and Japan, South Korea’s national side miraculously made it the Semi Final’s, narrowly losing 1-0 to a 75th minute Michael Ballack strike. The event was hailed as a success for its seamlessly smooth operations and excellent football, but what effect did this have on both of the host countries? Tourism to Japan increased after the tournament. The Japanese public opinion of South Korea reached an all time high, helping to heal long standing issues between both countries, stemming from WW2. Although football is popular in Japan today, baseball remains the nations favourite pastime. The tournament reportedly cost a combined total of $7.5b to host, with an estimated economic impact of $11.86bn, making the tournament a financial success. This was the first time the World Cup was hosted across two countries.

 

 

The 2006 World Cup in Germany was widely praised as a tremendous success for the nation. According to the German government, tourism revenue increased by around $400m during the tournament, helping to boost the Germany economy. Also, a staggering 500,000 new jobs were created in the lead up to the tournament. The city of Cologne reported that their visitor numbers after the World Cup increased by between 7% and 10%. Another tangible benefit was that in preparation for the tournament, the German government invested the sum of €37b in infrastructure such as roads, transportation and facilities, so that the country could facilitate the surge in visitors. This is something that the German people still benefit from today. The German League also benefited by being awarded $70m, which was in turn put into grassroots development, so that young Germans could dream about playing in a World Cup one day themselves.

 

 

South Africa spend around $4bn on the 2010 World Cup, investing the money in six new state of the art stadiums and upgrading infrastructure such as roads and airports. FIFA generated a staggering $3.36bn from the event and awarded South Africa with $100m to fund grassroots projects around the country. Unfortunately, the South Africa World Cup has done nothing to improve the fortunes of the nations national team. Nicknamed Bafana Bafana, the team failed to qualify for Russia 2018, finishing bottom of their qualifying group with 4 points from 6 games. The national league still suffers from poor attendances, excluding the countries two major teams, Orlando Pirates and the Kaiser Chiefs. The estimated average cost of a tourist attending South Africa for the World Cup is estimated to be $13,000. The Cape Town stadium hosted five first round matches, and went on to host a second round, quarter final and semi final throughout the tournament. The stadium cost a reported $600m with the nations total spending for stadium construction and reburbishment topping $1.4bn. This left many South African’s wondering if they money could be better spent elsewhere in the country.

 

 

Widely criticised for leaving Brazil with several expensive but dormant stadiums, the 2014 World Cup is one that divides opinion. Brazil exited the tournament in a humiliating 7-1 defeat to Germany in the Semi Final, leaving the Selecao’s dream of winning the World Cup on home soil in tatters. Despite initial concerns, the 12 World Cup stadiums were ready on time for the opening ceremony to begin. However, now lies several near-abandoned stadiums which struggle to host any football at all. The most expensive stadium, adding up to a total cost of $550m, is located in Brasilia and is being used as a parking space for buses.

 

© 2014 Nouveau Finance Ltd. Moneypod is a trading style of Nouveau Finance Ltd.
Company Reg: 08470456 | Data Protection: Z3624187 | FCA reference number: 727348

* If your loan is approved, funds may be cleared and in your account in around 10 minutes. This is subject to lender checks and clearing times. Our service software will find a match offering the lowest APR rate possible within our network based on availability.

Lowest APR – Our software system uses sophisticated algorithms to search for and match your application with a lender offering the lowest APR rate possible based on your current circumstances. APR rates depend on specific factors and risk and range from 45.3% to 1575%.

Loan Amounts – Your actual loan offer may be less than what you applied for, this is because every loan application is considered and dependent on affordability. Lenders will consider loan period, income and outgoings so a decision might be to decline the requested loan but may accept and present a lower amount offer. Applications may be accepted on a different borrowing period; this is due to the situation of the borrower and the repayments of the loan based on available income.

Consumer Advisory: Moneypod is a loan matching service. This site will submit the information you provide to a direct lender. Upon loan approval, a direct lender may require further information from you which will be collected after we transfer you to their website or they may contact you via phone or email.

The operator of this site is not a direct lender. Loan terms, conditions and policies vary by lender and applicant qualifications. Late or missed loan payments may be subject to increased fees and interest rates. Not all lending partners offer up to £3,500 loans, and not all applicants will be approved for their requested loan amounts. Loan repayment periods vary by lender also. Lenders may use collection services for non-payment of loans.

Not all borrowers will qualify for a loan, the operator of this website does not engage in any direct consumer lending, we simply provide a FREE loan matching service to the public.

Representative: 278.2% APR

Representative Example: Amount of credit: £900 for 11 months at £154.90 per month. Total repayment of £1,703.91. Interest: £803.91. Interest rate: 150% pa (fixed). 278.2% APR Representative. Rates from 45.3% APR to 1575% APR – quotes and APR will be based on your personal circumstances. Nouveau Finance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 727348 We are a credit broker and not a lender and offer credit facilities from a panel of lenders.

*Fund transfer times may vary based on the matched UK money lender, time of day applied and your bank.

Auto Decisioning allows lenders to make a decision on your loan application without the need for human interaction, for more information please contact your lender or see their privacy policy.

About FF Fly 170 Articles
The FF Fly has been playing various forms of fantasy football for almost a decade without winning anything. Mid-table Mediocrity is his favourite alliteration of all time.

Be the first to comment

Leave a Reply

Your email address will not be published.


*