The long term effects of the FIFA World Cup are questionable.
Currently, in SA the World Cup has not made a dent in the unemployment rate which is at around 45%. Many people employed in contracts leading up to the 2010 World Cup are now unemployed. Construction has slowed with the credit crunch and an over-indebted consumer which will be put under further pressure this month due to a new fuel tax levy and increased electricity costs. Food prices are already high and the increases will lead to higher food prices in the next month.
The World Cup Stadium in Cape Town, was put to use for the U2 Concert which was a huge success, but one wonders at the cost of keeping the stadium compared to revenue it may generate in the future.
Tourism is one the fastest growing industries in SA but the world's economy has put a damper on this...as SA is an expense destination, compared to other countries.
In few months time we will be having SA's municipal elections and the fight is on between the ruling ANC and the DA for control over major strongholds such as the Western Cape.