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World Cup 2010 Revealed As The Most Economically Successful In The Competition's History
FIFA can be pleased with the 2010 World Cup held in South Africa, as it was the most financially successful tournament to date.
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Sep 6, 2010 12:30:00 PM
By Peter Pedroncelli
South Africa's hosting of the 2010 World Cup made football world governing body FIFA around R29 billion, which makes the 2010 tourney was the most successful in the organisations's history.
The turnover was almost 25% higher than the previous competition in 2006 when the tournament was held in Germany.
This information was released in a study by Pircewaterhouse Coopers (PwC) titled: "Back on Track? The outlook for the global sports market to 2013."
The international sports industry was by no means exempt from the global financial crisis, but certain sectors of the industry continued to thrive despite the tough economic times.
According to the report, "The global sports market is achieving a gradual but robust recovery from the impact of the 2008-2009 economic slowdown. Over the four-year forecast period from 2009-2013 we (PWC) estimate that total worldwide revenues will record modest overall growth as the industry rebounds from the decline."
As much as 95% of the profit made by FIFA during the World Cup will be used to help finance its operating costs for the coming four years. Ticket sales contributed a large portion of FIFA's revenue with almost three million people attending matches in nine cities, with an average cost of R1700 per ticket; the sport's governing body coined an estimated R5.1bn from ticket sales alone.
This figure is more than the combined income from ticket sales for all types of other sport in South Africa. The immediate impact of the tournament on the South African economy was also distinctly evident, with the Rand strengthening against other currencies.
The report suggested that the 300 000 to 400 000 tourists who came to the country during the tournament contributed an additional revenue of somewhere between R10bn and R12bn or to 0.5% of the gross national product (GDP).
The turnover was almost 25% higher than the previous competition in 2006 when the tournament was held in Germany.
This information was released in a study by Pircewaterhouse Coopers (PwC) titled: "Back on Track? The outlook for the global sports market to 2013."
The international sports industry was by no means exempt from the global financial crisis, but certain sectors of the industry continued to thrive despite the tough economic times.
According to the report, "The global sports market is achieving a gradual but robust recovery from the impact of the 2008-2009 economic slowdown. Over the four-year forecast period from 2009-2013 we (PWC) estimate that total worldwide revenues will record modest overall growth as the industry rebounds from the decline."
As much as 95% of the profit made by FIFA during the World Cup will be used to help finance its operating costs for the coming four years. Ticket sales contributed a large portion of FIFA's revenue with almost three million people attending matches in nine cities, with an average cost of R1700 per ticket; the sport's governing body coined an estimated R5.1bn from ticket sales alone.
This figure is more than the combined income from ticket sales for all types of other sport in South Africa. The immediate impact of the tournament on the South African economy was also distinctly evident, with the Rand strengthening against other currencies.
The report suggested that the 300 000 to 400 000 tourists who came to the country during the tournament contributed an additional revenue of somewhere between R10bn and R12bn or to 0.5% of the gross national product (GDP).
| Sign up with 188BET for a FREE bet up to £25 – Great Prices, Every Game |
|
| Open an account with Sportingbet today and get up to £100 in free bets! |
|
| Sign up with William Hill for a free bet up to £25 |
|
| Sign up with bet365 for a free bet up to £200 |
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| Sign up with Paddy Power for a free bet up to £50 |
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