A Brief Analysis of The Economic Impact of Major Sporting Event on The Host City
DOI:
https://doi.org/10.61173/wss5wz97Keywords:
major sports events, sport economy, urban economyAbstract
The study of sports competition is a crucial field of research that comprises subjects such as economics, sociology, and other related fields. Scholars in this endeavour to tackle paramount questions with profound practical ramifications, which includes exploring the qualities and movements that underlie sports competition. Exploring the factors that influence sports competition outcomes and the ways in which these factors shape diverse competitive landscapes is a valuable and significant research area. This research examines the economic impact of major sports events on the host city. The aim of this research is to provide a thorough analysis of the economic consequences that follow from hosting such events. Through a synthesis of existing literature and empirical analysis, the research investigates the various facets of the economic impact of major sports events, encompassing employment, local commerce, tourism, and infrastructure development. The results indicate that such events can yield significant economic gains, ultimately promoting regional growth and development. However, a thorough analysis of the available evidence emphasises the importance of adopting a multidimensional viewpoint that takes into the account the social, cultural, and environmental ramifications. Despite the intricacies and constraints in accurately measuring the magnitude of the effects, this research ascertains that organising major sports events can generate favourable economic consequences for the locality. The results emphasise the significances of thorough analyses and additional research to enhance our comprehension of the economic implications of hosting such events.
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