Research has found that multinational companies believe the World Cup in 2010 will have a more positive impact on the economy of Africa than the World Economic Forum taking place in South Africa this week, with 65% of respondents deciding in favour of the football tournament.
Research from Cable&Wireless also highlighted a wider lack of awareness of the WEF, with only 32% of the multinationals questioned being aware that the forum was taking place at all.
Taj Onigbanjo, head of Middle East & Africa at Cable&Wireless Worldwide, comments: “The results are surprising and somewhat disappointing. Cable&Wireless supports the WEF on Africa and we have seen how it has led directly to economic improvements in the region.
“While high-profile events such as the World Cup will no doubt deliver short-term improvements to the wealth of the continent, businesses need to be looking at sustainable plans for investing in the economy of Africa. Long-term initiatives such as the WEF on Africa, as well as committed investment into the infrastructure of this important region will allow the continent’s economy to maintain development and continue to provide opportunities for international businesses keen on rapid growth."
The World Economic Forum on Africa will take place from 10 to 12 June in Cape Town.