ABSTRACT
Potential hosts use economic impact studies to justify their involvement, but, unlike the more realistic cost-benefit analyses, they focus on positive economic activities that occur because of the event and generally ignore any downsides to hosting. Cost-benefit studies demonstrate that mega-events show no significant increases in tourism, full-time employment, or regional economic growth. The real beneficiaries are the property rights owners who exploit their monopoly position to ensure that the costs of facility construction and running the events fall on the hosts. Two other major sources of finance are sponsorship and the selling of media rights, now often the largest contributor to mega-event revenue.
