Quest Means Business
June 30, 2010
Posted: 1124 GMT
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June 23, 2010
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June 22, 2010
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June 17, 2010
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June 15, 2010
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June 11, 2010
Posted: 1539 GMT

Ok, so it wasn't really much of a debate yesterday; there is absolutely no correlation between a country's GDP or population and its success at football.

That is not the case in say the Olympics, but when it comes to playing the world's most popular sport, all you need is a ball and something to make a goal. Maybe that is why football is such a great equalizer.

So, let’s look at who WOULD win if it was down to the economy, starting with the most important game of the weekend: England vs. USA.

America's growth is currently three times that of the UK (hard to find stats just for England) and its budget deficit is lower than that in the UK. Though unemployment in the UK is much lower than in the USA, I give the edge to the USA (I was born there after all).

As for the others matches: Korea would easily beat poor Greece (4.5 percent growth vs. minus 2 percent), Nigeria would bury Argentina (7 percent growth vs. 3.5 percent). And past winners Uruguay would easily beat the 1998 champions France (5.7 percent growth vs. 1.5 percent).

What about the hosts? South Africa's economy is growing but not as fast as Mexico's, and Mexico has a much lower unemployment rate.

In fact, Mexico should go far in this tournament. If you just look at how fast its economy is growing coupled with its love of the sport.

Mexico vs. South Africa: Fans blow a Vuvuzela at Soccer City

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Filed under: Economic World Cup •Quest Means Business •World Cup


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June 10, 2010
Posted: 1244 GMT

In the latest blow to the summer travel season in Greece, tourism workers have announced that they will hold a 24 hour strike to protest against recent government imposed austerity measures.

Are you affected by tourism strike?

Are you affected by tourism strike?

The strike, which will be held on June 30, will see roughly 100,000 restaurant, hotel and bar employees walk off the job to protest cuts in government pension funds and other belt-tightening measures.

The Panhellenic Federation of Catering and Tourist Industry Officials, which is the union representing tourism workers, say the strike is designed to highlight the challenges facing the industry.

“We want to inform the Greek people, the domestic and the foreign tourists, of the big problems in the industry that is forcing us to proceed with labor actions,” president of the union, Leonidas Karathanasis, said.

“We understand the difficult situation, but we are not doing this to create problems. However, we have reached a state where we can’t go any further.”

The union also announced a four-hour work stoppage strike on June 16.

The strikes are being seen as another harsh blow to the already weak tourism economy, which accounts for 15 percent of the gross domestic product.

Tourism officials estimate that about 30,000 nights in Athens’ hotels were cancelled because of violent riots on May 5 which killed three people.

Industry insiders also expect a drop of 15 percent in revenue at the country’s hotels.

We want to know what you think.

Have you changed your travel plans because of the delicate economic situation in the country? Has the low Euro and cheap prices lured you to the Greek islands this summer? Are you going to be in Greece on either June 16 or June 30?

Please leave your comments below.

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Filed under: Business •Quest Means Business


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Posted: 1204 GMT

As the 32 squads go at it on the playing fields of South Africa, we could not help but ask if economics plays a part in a country's success.

Who wins the economic World Cup?

Who wins the economic World Cup?

It's easy to say no straight away given that Brazil has won the trophy five times and until recently its economy was far down the 'developing' scale.

The United States and Japan on the other hand have never come close to winning, despite having the world's biggest economies.

Or perhaps, poorer countries have had the edge given that players coming from nothing, work harder at sport.

That of course doesn't fly when you look at the winning sides from Italy, France and Germany.

Someone joked to me this week that teams tend to win the cup during economic upheaval. Take a look at how well Argentina did during its era of hyper inflation.

Does that bode well for Greece or Spain?

So, over the course of the next few weeks throughout the tournament, we will take a look at whether the economy, GDP or wealth of a nation plays any part.

Each day we will preview the day's main match and profile each country to see who would win if economics played a role.

On opening day, we'll put Mexico and South Africa head to head and see who wins off the field when it comes to economic might.

Let us know what you think.

Please leave your comments below and let us know who you think would win.

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Filed under: Business •Quest Means Business


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June 8, 2010
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June 1, 2010
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