Contributions of the FIFA World Cup 2010 to Local Businesses in South Africa - Dissertation Example

?The Contributions of the FIFA world cup to the Local Businesses in South Africa The FIFA Football World Cup has been considered as one of the largest sporting events in the history of world sports. The presentation of the 2010 football world cup has been offered to South Africa in the year 2004. The country’s flourishing hosting of one of the greatest events in the world in June 2010 has created anticipations of improved economic as well as commercial activities fuelled by better tourism as well as investments (Clark et al., 2006 p.334). Various researches have suggested that super-events of this character hold much pledge for the host nation’s entrepreneurial activity. 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 “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 the 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 “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. South 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 implications for small business firms (South Africa and the 2010 World Cup, 2010, p.15). These small firms have been given lesser volume of attention in the country generally or in respect to the informal sector particularly. The most important exceptions have been works that have been highlighted how ‘unsightly’ different informal as well as sector entrepreneurs have sometimes been detached from their usual position of operation during the entire period of the super-events. These entrepreneurs included different street traders or the car minders. A report has suggested that although the majority of business entrepreneurs have not reported an instant positive effect on the business of the country, 2/3 of establishes less than one year old and also 70% of different new businesses of 1 to 3 years old and also half of all the established business firms of country have believed that the 2010 football World Cup would create a long term benefits and rewards for business houses in the country (Venter et al., 2012, p.450). The report has concluded that in general rise in the new firm establishment rate in the country during the year 2010 could be characterised to the process of hosting of this super-event (Venter et al., 2012, p.450). The informal sector of the country has been considered as the dynamic, effervescent and extraordinarily heterogeneous legroom, including a variety of services, manufacturing as well as retail business enterprises. Conservatively, the informal sector has accounted for near about 25% of the total employment ranging from 5% to 6% of the total Gross Domestic Product (GDP) (Venter et al., 2012, p.450). Nevertheless, different size estimations have been confounded by mix in the market for labour in the country (i.e., the movement of labourers between the formal and the informal sectors) and also an arrival of different foreign nationals. These foreign nationals have been relocated from their home nations mainly because of war, famine or the like. As a consequence, size estimates of country’s informal sector have often been unreliable and have been subject to greater level of variance. Conservatively, conceptualisations of different informal sectors have been charged with concepts of legitimacy and the notion of marginalism. In regard to the most of the parts, the sector has been regarded as consisted of those business enterprises that are not registered with different government or public authorities or agencies and that are survivalist in character. Various reports, that have provided the provided the fact that greater level of emphasis has been given to the development of the informal sector of the country during this time of hosting the world cup. Also the informal business sector of the country comprising of local businesses have been flourished by the demand for local goods and services by the foreigners (Venter et al., 2012, p.450). An alternative conceptualisation has been given by the ‘structualists’ which has suggested, though, that the formal as well as the informal sector of the country has fundamentally a product of the process of neoliberalism. It has also revealed that the people participating in formal and informal sectors display strong entrepreneurial propensities, and more significantly, do so by the choices. This provides to underscore the concept that informal traders can be regarded as inventive, chance-driven individuals. This also reveals that informal sector provide increase to the ‘hidden’ business enterprise culture that eventually needs to be attached as well as drawn into the structure of the formal economy. It has also been true to argue that insufficiencies in human as well as social capital and also in the structural and regulatory difficulties can operate to edge entrepreneurial ability. The concept of the business entrepreneurial spirit has been very much active in informal sectors of the country. It has been due to the fact that in allowing for the growth as well as the development of these informal sectors, entrepreneurialism as well as enterprising behaviour grows to be a consideration. Also it has been argued that specifically, the concept of entrepreneurial performance grows to be the topic for further reflection (Venter et al., 2012, p.450). Reflecting on aspects pertaining to the 2010 FIFA world cup, 58% of country’s traders have indicated a consciousness of the regulations enacted for protecting official trademarks as well as intellectual rights of the FIFA and also the official supports from ensnare marketing. Among those traders that have been aware of the regulations and have answered, 28% knew those aspects to be very well, 21% with quite well, 37% had a little information and 13% didn’t had know these aspects well at all (Venter et al., 2012, p.456). The last result has been indicating the fact that there has been a fair amount of awareness among the traders in the country. A further 32% of traders in the country have thought that the regulations would have the large effect on their local businesses (Venter et al., 2012, p.456). 30% of them have thought a little bit of effect, 20% with small effect and 18% of them have thought of no effect at all (Venter et al., 2012, p.456). Again the last fact has suggested that the regulations had been an important aspect for most of the traders (Venter et al., 2012, p.456). More than half of these traders characterised by a number of of the trademarked words in respect to their advertising thus providing clear confirmation of “Intellectual Property/passing off infringements”. Large number of researchers has offered a likeness of the degree to which different ‘protected’ words and/or phrases have been used by the traders in the country at the time of advertising their products and services. What has mainly been interesting is the total number of traders who have refused to remark on their use of the FIFA, debatably for the apprehension of potential consequences. Of those traders that have argued that the regulations would have no effect (30 people), 30% have used a mixture of the different trademarked words and also 50% have used the term “South Africa" (Venter et al., 2012, p.457). The term “South Africa” in itself might be categorised as the portrayal and not as a contravention. However, if it has been used with descriptions relating to soccer or the football world cup then this has been most likely to be recognised as a violation. Of those traders that have thought the regulations would have the great effect, 60% have still used a mixture of different trademarked words (Venter et al., 2012, p.457). This fact has suggested that, regardless of the volume of violation, traders have felt that they would not find caught. Furthermore, 48% have either agreed or powerfully agreed that the customers would favour to sustain official sponsors although only 10% have strongly disagreed to this view (Venter et al., 2012, p.457). 18% of these traders in the country, who have strongly disagreed that a mixture of the words has been necessary to draw attention of the customers, have still been using the words (Venter et al., 2012, p.457). Super-events like the FIFA World Cup of 2010 have been revealed to positively affect the entrepreneurial performance of the country, particularly at the local level. Various researchers have served to fill a significant lacuna in the field of research with the help of considering “how the world cup has impacted entrepreneurial performance in the informal sector”. Various relevant literatures have been considered and the revised model in regard to the entrepreneurial performance has been proposed by several researchers. Results have indicated that, although no separate profile of the traders may be formed or created, the average trader regarding the study has been South African male, possessing the stereotypically low degree of education as well as low earning potential in the country. In regard to the entrepreneurial performance, different FIFA related opportunities had created an important effect on the opening of different new products as well as services and also on the process of customer service delivery in the country during this time. At the same time these opportunities led to the dependence on the past experience along with the networks in recognising the opportunity. Lastly, in examining connected aspects of formalities, legitimacy as well as ensnare marketing, different traders have been found on the whole to break IP. These traders have also been found to pass off different protections, their level of knowledge of the diverse legislative provisions though (Venter et al., 2012, p.457). More positive contributions: In regard to the policy perspective, various researches have demonstrated the significance of understanding the formal as well as the informal sector as the entrepreneurial room. This fact has been considered in respect to being competent of producing different entrepreneurial results. It has been particularly significant, therefore, for the policy makers at the local level as well as at the global level to be responsive to the diverse antecedents which outline entrepreneurial performance and developments in the sector. For example, focusing on the necessary availability of different types of resources as well as skills development has been recognised to be must. At the same time, in regard to the various needs which have been to be remunerated to connecting benefits of the future events of these types for all the participants in the local and global economy (Venter et al., 2012, p.457). Business and FIFA world cup: In the FIFA World Cup of 2010 in South Africa, most of the football matches have been played during the trading hours of the local stock market. This aspect has provided the fact that with the innate experimentation to analyse different fluctuations in the process of investor attention in the country. Ehrmann and Jansen (2012) have opined that “using minute?by?minute trading data for fifteen international stock exchanges, we present three key findings. First, when the national team was playing, the number of trades dropped by 45%, while volumes were 55% lowers. Second, market activity was influenced by match events (Ehrmann and Jansen, 2012, p.1). For instance, a goal caused an additional drop in trading activity by 5%” (Ehrmann and Jansen, 2012, p.1). The extent of this decrease resembles the fact that what factors are required to be observed during the period of organising such as big event. This has also revealed the fact that as such type of event might not be investigative for different shifts in the attention. Nevertheless, the third finding of this research has been related to the fact that the co-movement between countrywide and the stock market returns at the global level reduced by more than 20% during the period of World Cup matches (Ehrmann and Jansen, 2012, p.1). On the contrary, no comparable decoupling has been found during the breaktime of the football matches. Hence, these researchers have concluded that the local as well as global stock markets have been following growth or developments on the football pitch instead of the trading pit. This has been leading to the changed process of price formation in the business market of the country (Ehrmann and Jansen, 2012, p.1). Eskom has been the largest benefitted electricity company from the hosting of the world cup in the country (Venter, n.d.). In overall terms, there has been a strong sense which stock markets have been following the growth or developments on the football pitch instead of the trading pit in the country. These outcomes have provided significant level of evidence for the limited level of attention in financial markets of the country. These limited attentions, in it, have influenced the process of price formation in the country. Additional tests have also revealed the fact that inattentiveness has particularly been strong for comparatively less relevant information. This information has been a predominantly strapping decoupling of the national from the global markets on condition that the process of price movements at the global market has been comparatively small. Moreover, the process of cross?sectional spreading of returns in respect to the individual elements of the nation’s “stock market index” has been considerably reduced. This aspect has suggested the fact that the interruption coming from the football matches and games led to a declined focus on the firm?specific as divergent to the market and also the sector?wide information (Ehrmann and Jansen, 2012, p.2). A current review of several literatures has revealed the fact that the effect of most important sporting events is most expected to be explained with the help of greater level of effects on local businesses (Petzer et al., 2006, p.460). In this context, various draws on these researches, with extra information on these researches, have not incorporated in other related parts of the research. Benefits of hosting different world-class sporting events have been recognised in various literatures incorporate improved infrastructure foundation, gains in the welfare as well as employment (Molapo et al., 2011, p.9). This also improves in tourists as well as local business outlooks. These literatures have also pointed out that potential negative effects of hosting such type of global events incorporating high costs of structure as well as infrastructure, elevated rental costs, provisional disarticulation of traditional tourists as well as crowding in the country under consideration (Mabugu and Mohamed, 2012, p.8). The world cup has created significant amount of positive impacts on the process of development as well as growth of local businesses in the country. These developments have been created greatly with the help of creation of improved level of stakeholders’ perception. This perception has been regarding the fact that the demand for the domestic goods and services are most likely to increase due to the hosting of such a big event. With the process of hosting of such a big event in all over the country has created significant amount of increase in the production of goods and services. This has not only positively affected the level of employment in the country, but also increased the level of profit earned by the local businesses (Coates, n.d., p.17). The real estate business has also been greatly helped by the mega-event (Mokhele et al., 2011, p.13). Hence, these local businesses have been capable of increasing the base of investment in their business domains. This larger investment has created significant amount of positive impacts on the development of these local businesses in the future. Along with the private business sector, the public sector of the country has also been encouraged with the help of greater level of demand for goods and services. Also the world cup has created significant level of integration of global businesses with the local businesses. This integration has not only created significant level of effect on the development of the technologies that have been used by the company. This has also made significant effect on the development of the production level and also of budget allocation of the government of the country (Maennig and Zimbalist, 2012, p.435). Also the mega-event has created important positive effects on the development of the media business in the country (Blackshaw, 2011, p.5). Greater level of media coverage of the world cup has provided significant level of beneficiary effects on the exposure of the mega-event in local televisions and other media sources, like newspapers. The business of media services has emerged in the country with the new dimension as large number of people has obtained the jobs in television media and newspapers during this time. Also greater level of leveraging has also been made in the business domain after the occurrence of the event. These effects have been expected to create both short-run as well as long-run effects on the business sector of the country (Maennig and Zimbalist, 2012, p.438). Evidently, the football World Cup 2010 has been for large number of people a prominent form of commercial business in the country. It has been in large volume of respects an privileged sporting occasion driven by hopes of earning greatest level of profit. However, researchers have given utmost level of effort to center more on the birthright as well as social prospective behind the mega-event (2010 FIFA WORLD CUP IN SOUTH AFRICA: A UNITED NATIONS PERSPECTIVE, 2010). Tourism business in the country: Tourism has been the most important source of generation of income in the country which has faced severe development during this time (Greylin, 2007, p.176). An improved transportation system and structure, “state of the art” amenities, and toughened security, have improved the country’s international perception. This aspect, in the longer term, has been expected to generate increased amounts of private as well as business tourists. This has also been expected to draw greater level of external investors in the country’s domain of businesses. The “United Nations Environment Programme” (UNEP) has created significant level of positive effect on the process of development of the local businesses and also in respect to the development of integration of these local businesses with global business houses. Greater degree of environment protection has been arranged by global business organisations in the country during the period of continuation of the event. These environmental protections have created significant level of positive effect on the development or growth of local businesses. This has also created significant level of encouragement for the global enterprises in respect to entering into the business domain of the country. Higher level of climate-friendly actions set by the international organisation has made important beneficiary effect on the development of the employment opportunities for the educated young generation of the country. This has also developed the national income of the country (2010 FIFA WORLD CUP IN SOUTH AFRICA: A UNITED NATIONS PERSPECTIVE, 2010). Transportation and world cup: The development of the existing world cup stadiums and also the process of building of new world cup stadiums in the country has made greatest level of positive effect on the development of local businesses (Brooker and Wilkinson, 2010, p.21). The glass and wood industry of the country along with the paper industry have faced significant level of progress during this time. The hotel industry has also been greatly developed during this time (Rogerson and Kotze, 2011, p 13523). Also the transportation sector of the country has also faced one of most notable development during this time. The economic incentive has created by the World Cup 2010 spending should be shared among all people of the country and not duplicates the previously skewed the economy. However consider one most important infrastructure legacy development – the Gautrain. This has been Africa’s first express train. The Gautrain, that has not been a World Cup budget thing, 12 has up to now cost R24 billion to built (Pieterse, 2010, p.92). However, the R100 price of per ticket (Pieterse, 2010, p.92) and the prosperity of the regions it runs through have suggested that the train largely serves the national as well as international tourists, national and/or international business travelers and also middle and upper groups of income earners. In different words, this particular train speeds past the people belonging to the poor class of the country. However, it has created significant level of positive impact on the development of the transportation system of the country (What’s left after the world cup, 2010, p.6). The city of Cape Town has been developed with the help of these developments to a great extent (Pieterse, 2010, p.92). Ambush marketing and world cup: The concept of ambush marketing has been highly significant in the country respect to the hosting of the world cup. The FIFA World Cup of 2010 in the country has generated aggregate revenues from media rights almost of $2.15b (Venter et al., 2012, p.452). This has been a rise of almost 53% on the 2006 occasion and marketing revenue has been realized of $1.2b, among which sponsorship has been accounted for almost $1.01b (Venter et al., 2012, p.452). This has been an 80% rise from the 2006 (Venter et al., 2012, p.452). The company Sportcal.com has been the largest company that gained the largest share of the part. In return for this type of an investment in the process of sponsoring the event or in the process of making ambush marketing in the country during this time, several rights holders have been guaranteed exclusivity. This has created the greatest level of problem in the country for the local and small businesses across the country. These exclusive rights of the large business organisations marginalised the local businesses and created significant level of negative effects on the path of development of local business and economies (Venter et al., 2012, p.452). Initially, it is significant to argue that the country has not approved any event-specific rule or legislation for protecting the FIFA World Cup of 2010 from ambush marketing. Nevertheless, stipulations have already been in strength before the proposal for the football World Cup, particularly sections “9D of South Africa’s Trade Practices Act190 and 15A of the Merchandise Marks Act191”. This has provided the event organisers of the country with some inspiring and extremely protective sections of legislation against the practices of ambush marketing. Hence, it can be argued that ambush marketing has been illegal in the country during the season of world cup (Lundgren, 2010, p.60). However, this legal legislation has said to reduce the effectiveness of public rights of accessing information regarding different goods and services through ambush marketing (Lundgren, 2010, p.63). Negative effects: However, according to some researchers the effect of the meg-event on the development of local businesses has been negative. According to these researchers these negative effects have been generated because of greater level of emphasis on the satisfaction of demand of the richest section of the society. Not only the strategy of ambush marketing has helped the richest section of the country to obtain greatest level of entertainment services, but also the poorest section of society has been deprived. This factor has increased the level of economic inequality in the country. Also the grievance of the poor section of the country has been increased to some great extent during this time. However, in this process the poor people of the country (who are the most dominant part of the country) have been deprived to a great extent to access various other economic as well as financial services (Carlson, 2010, p.16). It has also created significant effect on the development of the football as the main sport in the country and reduced the popularity of other sports a bit (Dolles and Soderman, 2005, p.5). Conclusion: With the introduction and hosting of the world cup 2010 in South Africa, the travel and tourism sector of the country and also the hotel industry have been highly benefitted. These industries have also been developed with the introduction of the development of transportation and environmental protectionism aspects in different areas of the country. These developments have not only created favourable effects on the development of future of local businesses in the country, but also improved the prevalence of global businesses in the country. Greater level of employment opportunities has also been created that have caused further positive effects on the development process of local businesses. However, these developments have been made largely for the developed part of the country or mainly for the rich people. The poor people of the country have been deprived from these developments and growth aspects. Greater level of government intervention, therefore, has been demanded by various researchers and business experts to raise the capacity of the poorer section of the country to demand those goods and services. 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