The Contributions of the FIFA world cup 2010 to the Local Businesses Dissertation

The Contributions of the FIFA world cup 2010 to the Local Businesses in South Africa - Dissertation Example This type of activity is regarded as one of the most fastidious importance to emerging economies and growing commercial countries, such as South Africa. However, comparatively small work has been completed by researchers to reveal the effect of mega-events, such as the football world cup, on informal as well as formal sectors in emerging economies. Known the comparative size as well as strength of the involvement made by informal sector to different economic activities in the developing part of the world, it has been significant to consider â€Å"how an event like the world cup may help shape the entrepreneurial potential of informal and formal sector participants† (Venter et al., 2012, p.449). This paper is aimed at providing a detail analysis of different contributions made by this world cup on the local businesses of the country. FIFA world cup and economy of South Africa: It has been well-established that super-events are most expected to possess a considerable effect on t he business as well as socio-economic development of the host nations and localities. Commanding as well as hosting of mega-events, such as the football world cup, has been a means through which regions compete in respect to attracting as well as retaining greater volume of capital mobility through place improvement. Also with the help of re-imaging as well as regeneration of local businesses of these regions has been realised. Particularly, sport hallmark as well as mega-events, which have been hosted on either as a one-off basis or as regular basis, has been transformed as increasingly important in the contemporary period of globalisation. Some of the most high profile illustrations of these super-events would incorporate the â€Å"Olympic Games, the Rugby and Cricket world cups, and the FIFA soccer world cup†. These events have been provided to create greater level of emphasis on the development of industrial as well as agricultural sector of the developing countries. Sout h Africa being a developing country has also been expected to be greatly helped by the mega-events like the soccer world cup. Several other important works have been discussed by several other researchers regarding the fact that tourism and travel industry of the developing countries of the world (du Plessis and Maennig, 2010, p.2). Key aspects of concern in regard to the hosting of super-events mainly in the developing part of the world relate to process of optimising their effects for economic as well as social development. These issues are also related to the building of greatest level of national identity along with significant volume of foreign policy effects. The distributional as well as allocative benefits of hosting super-events in the developing countries of the world have been scrutinised with many vital observers. These observers have suggested that widespread growth or development benefits cannot be considered as a necessary corollary of the process of hosting of these types of super-events. This is due to the fact that the marginalised groups can be given little benefit (Venter et al., 2012, p.450). Positive contributions in South Africa: Even though potential opportunities for medium as well as large businesses related to the strategy of hosting of super-events has obtained significant amount of academic notice, limited consideration has been intended for the