Rugby World Cup to boost South African economy

Rugby World Cup 2023By TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – HOSTING the Rugby World Cup in 2023 will bring R27,3 billion (over US$2 billion) to South Africa’s economy, according to an economic impact assessment commissioned by SA Rugby.
According to the assessment by Grant Thornton, the tournament would 38 600 temporary and permanent jobs.
Other highlights from the report show that hosting the tournament will generate R11 billion in direct spend in South Africa and R1,4 billion in tax revenue.
Low-income households will benefit by an amount of R5,7 billion.
“The resulting economic impact assessment shows that the 2023 Rugby World Cup will provide significant economic benefits to the local economy in respect of jobs sustained, gross geographic product and taxation,” the report stated.
South African Rugby Chief Executive Officer, Jurie Roux, said the assessment was rigorous and assumptions are based on best practice and government thoroughly scrutinised the determinations before committing to the financial guarantees.
“There would have been no guarantee of R2,7 billion if government was not convinced that hosting the 2023 Rugby World Cup was an economic opportunity as well as a sporting occasion,” said Roux.
The 2023 World Cup will be the tenth edition.
South Africa is bidding alongside France and Ireland to host the tournament.
CAJ News

Short URL: http://cajnewsafrica.com/?p=22179

Posted by on Aug 29 2017. Filed under Africa & World, Featured, National, Regional, Rugby, Sports. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Poll

Who do you want to lead South Africa ?

Connect to CAJ News on Facebook

Subscribe to our Newsletter

Photo Gallery

Log in
All material © CAJ News Africa. Material may not be published or reproduced in any form without prior written permission.