oa Discourse - The 2010 Soccer World Cup : an economic and socio-economic perspective
|Article Title||The 2010 Soccer World Cup : an economic and socio-economic perspective|
|© Publisher:||University of Johannesburg|
|Publication Date||Dec 2006|
|Pages||14 - 20|
Before 1980 the hosting of a mega sporting event such as the Olympic Games or Soccer World Cup was seen as being a financial and administrative burden to the organizing city and/or country. The major losses incurred by both the 1972 Olympics in Munich (£178 million) and the 1976 Olympics in Montreal (£692 million) substantiate this perception (Gratton et al., 2000:17). It is a well-known fact that the residents of Montreal have only recently cleared their Olympics bill! It was therefore generally accepted practice before the 1980s that hosting nations accepted such a financial burden if they staged a major sporting event. If a host country could not absorb these losses, the economic and socio-economic impact could be devastating. For this reason developing countries did not in general participate in bidding for the hosting of these events.
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