Business Management students at Bedford this year did a project on the possible effects of the 2012 Olympics on the economy. There might be some lessons to draw from the effect of this summer's World Cup on the South African economy. *
The home nation hopes for plenty of money, all the stadia to be finished and to look impressive.
They hope for lots of merchandising, and a boost to tourism.
The crises faced by Greece however following the 2004 Olympics look ominous..including more corruption and some dubious accounting practices.
The South African Stadia might look impressive, but the labour used to build them has been short-term. There is little evidence of long term benefit. Most of the grounds will revert to rugby or cricket after the tournament is over...
Once it is over most South Africans may be left to wonder where the money has gone.
Watch this space after 11th July if you are doing this topic next year...
Runciman, D (2010) Football's goldmine, Guardian Review, 22nd May 2010 p.2
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