It is not unusual for poor countries to host international events

Jan 17, 2009 Letters

Dear Editor,
Please permit me to respond to Mr. Freddie Kissoon’s diatribe on December 12th 2008, titled, “Reckless Government,” where he postulated that due to the fact that Guyana is a poor country, the Government should not be hosting the 20/20 World Cup.
Mr. Kissoon suggested that since Trinidad & Tobago and Jamaica have opted out, then so should Guyana, since we are poorer than these two countries. These two countries have decided not to host the World Cup as a result of the global financial crisis which has negatively affected their economies; this is not the scenario for Guyana’s economy. Trinidad & Tobago and Jamaica have huge investments with the US mainland; Guyana does not.
Poland is also a poor country; despite this, it is currently hosting The United Nations Framework Convention on Climate Change, an international event of some magnitude. At the Cochabamba Summit in Bolivia in December 2006, President Jagdeo was able to secure the South American Community of Nations’ (SACN) endorsement of a huge debt relief resolution for 100 percent, an amount of US$467 million; Brazil and the United States hold close to 60 percent of the bank’s shareholdings. The debt relief frees up more state resources for alternative development initiatives. The hosting of a major international event is a major income earner in any economy, poor or otherwise. Further, the hosting of major sporting events has an extraordinary capacity to generate emotionally powerful and shared experiences, producing greater bonding societally.
Events like the Olympic Games, the Football World Cup, and Cricket and other major sporting events reveal both the appeal and elusiveness of sport. In the age of global television, the capacity of major sports events to shape and project positive images of the host country, both domestically and globally, makes them highly attractive in the global market. Hosting international events enhances economic dividends. The economic benefits include:
· Economic growth (GDP) and impact
· Targeted growth in economic relevant sectors
· Direct and indirect employment created
· Direct, indirect and induced impacts (“Multipliers’ Analysis”)
· Economic-social Net Present Value
· Touristy flows (“visitors’ economy”)
Mr. Kissoon should stop peddling his senseless prediction of doom on a daily basis. Pessimism has never won any battle and it certainly never will. It’s about time you start seeing the silver lining like the 2007 World Cup and now the 20/20 World Cup, as thrusts to propel this country onward.
Moses James

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