Tuesday, July 6, 2010

Nonsense on the economic success of the World Cup

this is an example for Ukrainian politicians of what not to say about EURO 2012

"Africa's first World Cup tournament has been an economic success for South Africa, President Jacob Zuma told an investment conference Tuesday.
The country got a good return on the 33 billion rand ($4.26 billion) it invested on transport infrastructure, telecommunications and stadiums, Zuma said.
Some 66,000 people got new construction jobs as a result of stadium construction and rehabbing, while money spent on security means there are 40,000 additional police officers, Zuma said, according to a transcript of his speech."

These jobs should not be seen as a return on investment! Otherwise, we can pay money to people to sit at home, call it jobs, and be happy about our 'wise' investment - the real question is: what are the extra revenues generated by the stadiums that were built and of the security created? Not 4 Billion of value I'm afraid....


http://www.google.com/hostednews/ap/article/ALeqM5gldb1UwvRmQDbRUUnRnTv2wcFf6AD9GPK9G80

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