Economic Impact Assessment of Mega-Events in the United Kingdom and Brazil

Shui Ki WAN, Haiyan Song

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)

Abstract

Hosting mega-events is often perceived as a way to stimulate economic growth through tourism. However, the cost of infrastructure investments and promotion may outweigh the benefits generated by the mega-events. Measuring the impact of such events on a hosting country’s economy is not easy, especially as mega-events generally involve many sectors of a destination’s economy. In this study, we adopt a panel data approach to evaluate the impact of the London Olympic Games, Brazil World Cup, and Rio Olympic Games on the economic growth of the respective destinations. Using cross-sectional correlations between countries, we construct scenarios in which the hosting countries did not hold the mega-events and then estimate the time-varying impact of the events on the economy. The developed and developing countries exhibit different results.

Original languageEnglish
Pages (from-to)1044-1067
Number of pages24
JournalJournal of Hospitality and Tourism Research
Volume43
Issue number7
DOIs
Publication statusPublished - 1 Sep 2019

Scopus Subject Areas

  • Education
  • Tourism, Leisure and Hospitality Management

User-Defined Keywords

  • counterfactual
  • economic growth
  • mega-sport events
  • Olympics
  • panel data

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