South African organizers of the 2010 World Cup expressed concern on Friday about the effect the global financial crisis will have on the tournament, which is already running well over budget.
The South African government has had to allocate an extra 1.4 billion rand (US$136 million) for stadium construction because of rising prices, pushing total costs to more than 30 billion rand. That is 10 times the amount originally budgeted.
The South African rand has fallen about 30 percent against the dollar in recent weeks and as the US and Europe slide into recession, there are concerns fans will not have money to travel or buy tickets.
Danny Jordaan, the head of the local World Cup organizing committee, said organizers were taking a “wait and see approach” but that there were indications that the world financial outlook will be more positive by 2010.
MORE RANDS
“Even if you accept people have fewer dollars in their pockets, those dollars will buy more rands. So people may still travel because the destination becomes cheaper,” he said.
Meanwhile, South Africa’s tourism agency and MATCH, the company appointed by FIFA to manage hotel room sales, said on Friday they have patched up differences over pricing.
South African tourism head Moeketsi Mosola appeared together with the head of the MATCH advisory board, Jaime Byron, to declare they will be working closely together.
The tourism agency earlier this month withdrew from MATCH’s advisory board after accusing the company of bullying small hotel owners.
South Africa has been hoping that the World Cup will act as a catalyst for economic growth and a boom in tourism with an anticipated 350,000 visitors expected for the month-long event.
Jordaan was speaking to reporters ahead of the draw for the Confederations Cup draw, which took place yesterday.
The draw will decide the match schedule and composition of the two groups of the eight-team competition to be held next June.
The event will feature Brazil, Egypt, Italy, New Zealand and the US.
Jordaan said the world financial crisis would not affect preparations for the Confederations Cup as games were being played at existing venues.
He also said they were not expecting the event to draw large numbers of foreign fans and had instead targeted their publicity campaigns at South Africans.
Jerome Valcke, FIFA’s secretary-general, said that while soccer fans may be facing tighter times, tickets for the most-watched tournament in the world will still be sought after.
FINANCES
Valcke also gave reassurances that FIFA’s finances were in good shape and would not be affected by the turmoil in world markets.
“We are not afraid even as we recognize there is a very strong crisis,” he said. “Sport is one safe business that gives something when all else is going wrong.”
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