The economics of hosting mojor sporting events

Hosting major sporting events can bring a major economic boost for the country and cities who host the event. However, countries need to address a set criteria in order to make a bid for such events. For example to host the Olympics Games countries must ensure the following:

  • They can cater for the size of the event (housing of athletes and staff)
  • Construction of stadiums
  • Transportation to events
  • Media coverage
  • Politician support
  • Tourism

Benefits of hosting an event

  • Build tourism
  • Economic influx
  • Eager to showcase city off to others
  • Pride and patriotism
  • Image as a global player
  • Employment opportunities
  • Increased funding for sports development

Economics of hosting an event

  • Infrastructure; arenas, transport, accommodation
  • Capacity to host
  • Security; threat of terrorism- associated costs