The ongoing Fifa World Cup, which roared into life a fortnight ago, has not provided any joy for Zimbabwe's listed companies, especially counters in the tourism sector, who were expecting a windfall from the soccer showcase.

In fact, such is the gloom besetting the industry that leading hotelier and CEO of Rainbow Tourism Group (RTG), Chipo Mutasa, says the potential benefits of the World Cup were exaggerated.

The RTG counter ended the week retreating, losing 20 cents to close the week at 1.40, from 1.60 at the beginning of last week.

Mutasa told shareholders at the 11th Annual General Meeting that business from the World Cup was far below that expected by the group and the tourism industry.

It was expected that the country's hospitality industry would benefit on a large scale from the more than 300 000 visitors who are expected to spend not less than 15 days in South Africa, spilling over into neighbouring Zimbabwe to spend the greenback.

The reality on the ground, however, is that very few corporates stand to benefit from the extravaganza.

Zimbabwe boasts the mighty Victoria Falls and its national parks, but it seems that despite these huge attractions, the industry is going to attract very few visitors during this event taking place for the first time in Africa.

Zimbabwean firms have been compounded by liquidity challenges and high interest rates.

Mutasa, however, said the business environment has significantly improved but her group's performance in the resorts remains worrisome.

The group achieved a cumulative turnover of $6.9-million in the four months to April, compared with $3.9-million last year.

The hotel group had budgeted $8.3-million for the period. Another listed hotel group, Africa Sun, has seen no tangible benefits from the ongoing soccer extravaganza.

Group CEO Shingi Munyeza said: "The World Cup is in South Africa, 99.9% of arrivals will be in South Africa. The benefit for Zimbabwe will be for future marketing. However we received significant business this week when a group of 225 Mexicans checked in at Victoria Falls."