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Ivory Coast’s Economy in Time of African Nations Cup

For the first time in forty years, the largest sporting event in Africa, the African Nations Cup, begins in Ivory Coast on January 13. However, what economic benefits will the host country get in return?

Ivory Coast, a nation with more than 29 million inhabitants will host African Nations Cup or Africa Cup of Nations (AFCON) in coming days. The tournament with 52 matches will be held in five cities: Abidjan, Yamoussoukro, Bouaké, San-Pedro and Korhogo, with fan zones in each host city. Six stadiums will host this important football tournament. Four new stadiums have been built from scratch and two others renovated; roads that connect the cities have been developed, hospitals built or upgraded and airports refurbished.

Authorities said the country has invested more than $1 billion in infrastructure related to the competition. This edition has exceeded all expectations in terms of the interest it has generated. A total of 5,000 press accreditations has been requested to cover the event, a 90% increase on the last edition and a clear indication of the interest in this edition in the Ivorian country.

The Confédération Africaine de Football (CAF) launched tickets sale on Saturday, 11 November 2023. As expected, the hosts, Ivory Coast recorded the highest number if ticket sold with 32,307 tickets already sold out. Remarkably, Nigeria group opponents, Guinea-Bissau with 28,314 tickets sold came second. Equatorial Guinea who will trade tackles with the Super Eagles in their first match in 14th January sold 16,237 tickets.

Meanwhile, twenty-four (24) top African teams will battle for the top prize of a cool 1.1 billion shillings. The teams have been placed in 6 groups of 4 teams with Senegal seeking to defend their title. The second-best team in the tournament will walk away with 640 million shillings. Each of the two semi-finalists will receive 400 million shillings, and each of the four quarter-finalists will get 208 million shillings.

There will be a significant Premier League presence at the competition. There are at least 30 Premier League players heading to AFCON. Nottingham Forest may be without six players, Manchester United may be without first-choice goalkeeper Andre Onana, and Liverpool will lose their star player Mohamed Salah.

Ivory Coast squad includes three goalkeepers, eight defenders, six midfielders, and 10 attackers. Manager Patrice Gasset will lead his team in a friendly against Sierra Leone on January 6 at the Laurent Pokou Stadium in San Pedro as part of their preparations for the tournament. The Ivory Coast will begin their African Nations Cup campaign against Guinea-Bissau on January 13. Also, Nigeria will compete in Group A with the hosts and start their tournament in Abidjan on Jan 14 against Equatorial Guinea.

Developing the Nation’s Economy

The African Nations Cup is a catalyst for promoting economic growth, especially in the tourism industry, for the Ivory Coast, serving as more than just a diplomatic showcase or a tool of influence. The nation wants to establish itself as a top African travel destination and a pioneer in business travel as part of the government’s “Sublime Ivory Coast” initiative. As part of this national strategy, brand-new resorts and luxury hotel complexes have emerged, ready to receive a global clientele.

Observers indicated that hotel occupancy currently hovers around 40%. They argued that the tournament  expects this to rise to 100%. This difference could represent the equivalent of at least 15 billion CFA francs per week ($25 million). The event will also have an effect on small businesses and transportation sector. Analysts noted that the country is expecting up to 2 million people during the tournament, from neighboring countries that have qualified such as Burkina Faso and Ghana, as well as those slightly further afield like Nigeria and Senegal.

Côte d’Ivoire has had consistent economic growth over the last ten years, with an average annual growth rate of 8.2% between 2012 and 2019. “As a result, the country has achieved lower middle-income status, ranking as the ⁨⁨99th⁩ richest economy⁩ per capita, growing ⁨2.8%⁩ on average over the past five years, ⁨above⁩ regional averages. Its ⁨27.5 million⁩ inhabitants currently have a GDP per capita of ⁨$2,613⁩⁨ (⁨$5,866⁩ PPP; ⁨2021⁩)⁩,” experts stated.

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