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Developing Countries: Hosting International Sporting Events 2nd Part

05/05/10

Permalink 10:36:19 pm, by amilnal
Categories: Sports, Business, Commentary

Developing Countries: Hosting International Sporting Events 2nd Part

On the cost side, FIFA (Federation Internationale de Football Association)requires that the World Cup host country provide at least 8, and preferably 10, modern stadiums capable of seating 40,000 to 60,000 specators. For the jointly hosted 2002 World Cup in Japan and South Korea, each country offered to provide 10 separate stadiums. As neither country had a large existing infrastructure for football, South Korea built ten new stadiums at a cost of nearly $2 billion, and Japan built 7 new stadiums and refurbished 3 others of at least $4 billion. According to Executive Director of the Cricket World Cup, Ali Bacher, R500 million, South African currency, (US$66,719,578.89) was spent to bring the 2003 edition to South Africa while the upcoming FIFA World Cup in that country dwarfs that figure by some margin with the South African government spending over US$6 billion on stadiums, roads, airports and other projects.

When our region the Caribbean was about to host the Cricket World Cup in 2007. The Jamaican Minister of Finance, at the time, Omar Davies disclosed that the Caribbean Community (Caricom) heads of government decided to host the event because of the additional benefits expected to come to the region and not in terms of straight economic and financial analysis. He even quoted potential losses in the region of US$95 million, with the Jamaican government spending US$105 million and only expecting to earn US$10 million in revenue from the event. I don't know about you but I feel that this kind of financial hit for a third world country's economy, like Jamaica's, would be devastating. Numerous sectors of government will have to be neglected and the people of the country will continue to suffer in the form of increased taxes for years to come in order to help balance the budget. Three years on from the event and you see exactly what this commentator was afraid of. What benefits could you honestly say that Jamaica and her people got from the event? Forunately next week I will put forth the speculated benefits and allow you to decide if actually hosting a name tournament actually helps the conutry or countries it is staged in in the long run.

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Three Ministers

Three ministers - a Presbyterian, a Methodist, and a Southern Baptist and their wives were all on a cruise together. A tidal wave came up and swamped the ship, and they all drowned. The next thing you know, they're standing before St.Peter.

As fate would have it, the first in line was the Presbyterian and his wife. St. Peter shook his head sadly and said, "I can't let you in. You were moral and upright, but you loved money too much. You loved it so much, you even married a woman named Penny."

St.Peter waved sadly, and poof! Down the chute to the 'Other Place' they went. Then came the Methodist. "Sorry, can't let you in either," said Saint Peter "You abstained from liquor and dancing and cards, but you loved food too much.

You loved food so much, you even married a woman named Candy!" Sadly, St. Peter waved again, and whang! Down the chute went the Methodists.

The Southern Baptist turned to his wife and whispered nervously, "It ain't looking good, Fanny."

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