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Economic Advantages of Mega Events

Over past years there has been an on going debate as to whether or not hosting so called “mega sporting events” is beneficial to the hosting nation and cities, either economically or socially. In the early years of mega events the view that hosting one of these events was an economic burden was the view of almost everybody who mattered. However after a profit of $ 200 million profit was generated by the 1984 Los Angeles Olympics, many peoples view’ changed. According to Matheson and Baede 2002,

“The prevailing perception seems to be that a properly run Olympics generates millions, if not billions of dollars in profit for the host nation”. (Matheson and Baede, 2002)

In 1984 Los Angeles was the sole bidder for the Olympics, today cities fight for the chance to host these mega events because usually of the promise of a financial windfall. Does this potential economic windfall justify the substantial costs and risks? There are many people and sources who view staging these ...

Posted by: Rheannon Androckitis

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