Aussie hopes for £400m rugby boost

A NATION'S success in the Rugby World Cup could be a useful guide to its upcoming economic fortunes, according to a former rugby international turned banker.

The tournament, which starts on Friday, should not be underestimated as an amateur guide to economic vigour, says former Australian international Simon Poidevin, head of Citibank Australia.

Poidevin told economists this week that a top team performance by a nation 'is a reflection of economic vibrance' with a team's success on the rugby field mirroring its national economic potential.

Poidevin suggested that Wales' fade-out as a rugby team paralleled its economic problems, and the rise of Irish rugby was a 'reflection of the dramatic revolution in that economy'.

Poidevin's on-field predictions aside, Australia is set to do very nicely from the 40,000 well-heeled international visitors to the six-week tournament. A Citigroup report says it will be worth around A$1bn (£414m) to the economy and lift Australia's December growth figure by 0.2%.

To a tourism sector battered by the fallout from the Sars virus and global uncertainty, the tournament is shaping up as a godsend.

Although 130,000 people visited Sydney for the Olympics, their economic impact was only slightly bigger than the expected boost from this tournament. Rugby fans are generally wealthier, and because of the long down time between games it means there is plenty of eating, drinking and partying to be done.