ABSTRACT
Sporting mega-events such as the FIFA World Cup, Rugby World Cup and the Olympic Games have significant positive and negative impacts on communities. This chapter reports findings from a project analyzing the impacts of the 2012 Formula One Grand Prix in Monaco on residents’ attitude and support for the event. Using Social Exchange Theory (SET), we evaluate whether positive and negative socio-cultural, economic and environmental impacts have any influence on overall attitude and support toward the event. This two-stage project consisted of first, in-depth interviews with six stakeholders including residents, the local DMO and event organizer to identify the pertinent perceived impacts of the Grand Prix on the community and, second, a survey of residents living in Monaco and its surrounding communities. The quantitative data were analyzed using PLS-SEM. The findings show mainly that positive economic and social impacts had a significant influence on event support but also that positive social impacts had a significant influence on overall attitude toward the event. Implications for event management and destination marketing organizations are offered.
