This time In 2024, we’re gonna be millionaires
Rugby World Cup 2015 was the most economically successful to date, with nearly £2.3 billion generated in economic output, says Ernst & Young
I’d love to know how they can calculate something as intangible as that yet they can’t spot giant holes in Anglo’s balance sheet.
3 Likes
Have you a link to that?
http://pulse-static-files.s3.amazonaws.com/worldrugby/document/2016/05/24/8a6dcadc-8da6-4cc1-8d89-b324614cefa4/Rugby_World_Cup_-Post_event_Final_Report(low_res).pdf
Incredible that it came in within .1bn of the £2.2bn they predicted it would be worth in their 2013 pre tournament report.
As @Tassotti would say, thats British efficiency for you. You micks wouldn’t know how to organise a tournament.
They added what was spent on infrastructure (i.e. Stadiums) onto the direct output.
They then extrapolated off that figure to calculate indirect and induced benefits, with no breakdown of who what or when. So £77 million in capital spending was worth an additional £127 million in output, assuming the same ratio to other direct outputs, (I’d actually say they have given more weight to the capital spending in the other categories as capital spending is heavy on wages etc).
If that was the case you could make a justifiable argument that spending €100 million on an international airport on the aran islands gave a return of over €250 million to the economy and thus was a worthwhile exercise.
That’s the kind of nonsense accounting Anglo were doing. At least EY learned something from it.
And yes in case anyone was wondering I’m flat out in work
2 Likes
That’s a really interesting report.
I will continue to campaign against this global sporting event coming to Ireland though as I don’t want the greedy GGA getting their hands on more government money.