World Cup: Tournament worth cost for hosts, Zuma says

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

South Africa has gotten a good return on its World Cup investment, President Jacob Zuma told an investment conference Tuesday.

The country spent $4.26 billion on transport infrastructure, telecommunications and stadiums, Zuma said, creating more than 100,000 in jobs, according to a transcript of the president’s speech obtained by the Associated Press.

But the big boost has been to South Africa’s image, Zuma continued, and that change in perception can’t be measured in dollars and cents.

‘This was an important, image-changing event for South Africa,’ Christopher Hart, chief economist for Investment Solutions, told the AP. ‘It has been successful, against expectation ... People saw it and experienced it as a success.’

The country is likely to attract more foreign investment in the future as a result, Hart said, but added that the government has to ensure that it keeps up the standards set during the tournament, especially when it comes to security.

-- Kevin Baxter reporting from Durban, South Africa