Major Sporting Events and Mid-Size Cities: Shut Out or Golden Opportunity? Brad R. Humphreys Department of Economics College of Business & Economics University of Calgary School of Public Policy Current Affairs Lunch 23 October 2017 Brad R. Humphreys (WVU Economics) Major Sporting Events & Mid-Size Cities 10/23/2017 1 / 5
Major Sporting Events Framing Tangible Economic Benefits Teams/Arenas Mega Events Local employment Local employment Construction Jobs Construction Jobs Income/Wages Income/Wages Tourism Tourism Tax Revenues Tax Revenues Property Values Property Values New Business Formation New Business Formation Intangible Benefits Civic Pride Civic Pride “World Class City” “World Class City” Life Satisfaction Life Satisfaction Advertising/City Profile Advertising/City Profile Existing evidence: None, Mixed Yes, No evidence Brad R. Humphreys (WVU Economics) Major Sporting Events & Mid-Size Cities 10/23/2017 2 / 5
Major Sporting Events Framing Facility Opening, Replacement & Subsidies 1970-2010 400 A Public Subsidy, Millions 2010 $ A 300 A A A A A A A A A A A A A A A 200 A A A A A A A A A A A A A 100 A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A 0 1970 1980 1990 2000 2010 Year Facility Opened Brad R. Humphreys (WVU Economics) Major Sporting Events & Mid-Size Cities 10/23/2017 3 / 5
Major Sporting Events Framing City & Team Bargaining Outcomes 1970-2010 .5 .4 .3 Fraction .2 .1 0 0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1 Public Share of Total Construction Costs Brad R. Humphreys (WVU Economics) Major Sporting Events & Mid-Size Cities 10/23/2017 4 / 5
Major Sporting Events Framing Olympic Games Costs and Cost Over-Runs 800 Montreal 76 700 Rio 16 600 % Cost Over Run 500 Sochi 14 Barcelona 92 400 Lake Placid 80 300 Lillehammer 94 200 Grenoble 68 Sarajevo 84 100 London 12 0 0 5 10 15 20 25 30 35 40 45 50 55 60 Total Cost Billions of 2009 US Dollars Brad R. Humphreys (WVU Economics) Major Sporting Events & Mid-Size Cities 10/23/2017 5 / 5
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