The Republic of South Africa is to hold the 2010 FIFA World Cup. This country has already hosted a number of major sport events. Since 1994 it has successfully managed some of the biggest - including the 1995 Rugby World Cup, the 2003 Cricket World Cup, the Women"s World Cup of Golf in 2005 and 2006 and, in January 2006, the only street race in the inaugural A1 GP World Cup of Motorsport. Nevertheless, the FIFA World Cup is the second biggest sporting event, after the Olympic Games. This event costs a huge amount of money but it is expected to pay off. South African Tourism CEO, Moeketsi Mosola, said the South African tourism industry will ensure visitors a unique and truly African experience during the four week event. According to Mr. Moeketsi Mosola: “Tourists are as precious as gold to us and the tourism industry makes such a significant contribution to our economy – it deserves to be nurtured, sustained and treated like gold.”
As mentioned the country spends a tremendous amount of money on the event. It invests into infrastructure in a big way. In fact, between now and 2010, the South African administration will spend some R5 billion on building and renovating 10 World Cup stadiums, R5.2 billion on upgrades to the country"s airports, and R3.5 billion on improvements to the country"s road and rail network. The event is very important for the country’s economy as it is expected to create some 159,000 new jobs. The South African tourism industry will greatly benefit from the visitors. It is also a good opportunity for construction and engineering companies. "There will be a big direct injection for the economy", as the Standard Bank economist Goolam Ballim says. He also claims: "... the indirect impact may be more meaningful for a sustainable economic lift in subsequent years ... It will help change the perceptions that a large number of foreign investors hold of Africa and South Africa."