REPORT: 2023 RUGBY WORLD CUP – SA ECONOMY STANDS TO BECOME THE BIGGEST WINNER
South Africa’s economy stands to become the biggest winner should the country be awarded the rights to host the upcoming 2023 Rugby World Cup. This is according to a recent impact assessment report released by Grant Thornton South Africa.
The report shows that by hosting the Rugby World Cup in 2023, the sporting showpiece will bring South Africa’s economy a total of approximately R23.3bn. Should the country host the tournament, it will generate R11bn in direct spend, accumulate R1.4bn in tax revenue and benefit low-income households by R5.7bn. Similar to the 2010 Soccer World Cup, the report also highlights additional intangible benefits that will accrue which include an enhanced country profile, the potential for increased pre-and post tourist arrivals (as well as domestic tourism) and the reignition of a sense of national pride.
Breaking down the economic impact per the seven host cities, Johannesburg – by virtue of hosting the final and most matches – will benefit by an amount of R10bn, with approximately 14 102 jobs created or sustained. Second to benefit the most will be Cape Town, with R5.2bn contribution to its GDP expected and 7 304 jobs created or sustained. The economic impact for the remaining five host cities – Durban, Tshwane, Bloemfontein, Nelson Mandela Bay and Mbombela – is between R1.4 and R1.5bn. Indeed, this calls for us to rally behind our country’s bid to host this event.