According to a report by JustMoney.co.za, those planning to host tourists during the World Cup, may end up in quite some
debt. Many people have invested a lot of capital into preparing their homes, or venues on World Cup guests, but may find that they do not recover this capital back in sales, said Herculaas van Heerden spokesperson for the financial portal.
"Many of these households not only need to go without the additional income that they bargained on but also need to service excessive debt levels," he said. As it stood before the World Cup, many locals were only just coming to terms with the economic situation in South Africa, and will now have to battle even higher levels of debt.
Of the 450,000 visitors who were expected to visit, only a suspected 300,000 will actually arrive. High costs of travel and of accommodation may have contributed to the drop in number of tourists coming to the country for the tournament. Price of international flights has increased drastically over the last couple of months to cash in on the frenzy, but it may have backfired.
Even local travel is unlikely to see a huge cash increase as higher costs of accommodation make travel within the congregation less of an option of cash-strapped tourists. Many venues and transport service providers will suffer a loss and end up in debt because of the World Cup.