In response to the unique opportunities that this global event offers to the country for both its established businesses and new entrepreneurs, the IDC's Tourism Unit has identified a diverse range of potential opportunities for development. These include events management, temporary accommodation, tour packages and a range of tourism related business activities, all of which offer opportunities which allow entrepreneurs to benefit from the Soccer World Cup in 2010.
“The IDC’s Tourism Unit is ideally placed to assist entrepreneurs who require funding in these areas in order to realise such business opportunities at this unique event”, says Mbuyazwe Magagula, Head of the Tourism Unit. “However, the accommodation subsector may be offering limited opportunities for new entrants as a result of the long-lead times required for such projects” he adds.
“Anybody who is not nearing completion of a hotel project will miss the 2010 boat. However, all is not lost because there is a multitude of other opportunities to be explored and with financial assistance from the IDC, entrepreneurs will still greatly benefit from the massive influx of tourists into South Africa as a result of this event.”
There are tremendous opportunities for those who offer non-hotel accommodation, such as university hostels, schools, lodges to take care of the needs of the many and varied types of visitors and supporters arriving in the country for the event. He added, however, that such entrepreneurs need to register as accommodation providers for 2010 with MATCH, FIFA’s official accommodation, ticketing and event information services provider.
“The IDC will provide funding for such tourism endeavours provided they demonstrate economic viability and there is meaningful shareholder funding in the project.”
In the last financial year the IDC’s Tourism SBU approved R1 billion in funding for 17 projects – creating some 2550 jobs in the year ending March 2008.
