The exit of Bafana Bafana from the World Cup, following its defeat by Uruguay and it failure to defeat France by three goals, provides observers with an opportunity to assess the costs and benefits to South Africa of the privilege of hosting the world's biggest sporting event.
President Jacob Zuma is buoyant: he predicts that the World Cup will serve as a catalyst to economic growth, thereby generating new employment opportunities and reducing the high unemployment rate of between 25 percent and 35 percent of the working age population, depending on whether the strict or the expanded definition of unemployment is used.
Zuma notes further that the construction of new stadiums for the soccer tournament resulted in the employment of an additional 66 000 workers and the injection into the economy of nearly R8-billion, with R2.2-billion of that flowing into low-income households.
While the completion of projects to build the required extra stadiums will almost certainly lead to the retrenchment of most, if not all, of the 66 000 workers, Zuma emphasises that the 40 000 police officers who were recruited to strengthen the police service during the World Cup will be retained and integrated into the police service permanently, to the benefit of all South Africans.
There have been several estimates of the total cost to South African taxpayers of hosting the World Cup. City Press quotes Udesh Pillay, of the Human Science Research Council, as calculating it at 6.6 percent of South Africa's gross domestic product. Bearing in mind that South Africa's GDP in 2008 was R1,271.7-billion, most ordinary citizens would consider that to be an astronomically large amount.
A respected economist reckons that the cost of hosting the 2010 World Cup to be in the order of R45-billion, inclusive of the huge sums of money spent of extending or improving the infrastructure, including stadiums, roads and airports and the rapid bus transport system.