A report by Prof. Victor Matheson, “Mega Events: The effect of the world’s biggest sporting events on local, regional and national economies” exposes the lies told to us by the 2016 Olympic Committee. They claim the 2016 games will bring in billions. In the report, published in 2006 by the Department of Economics at the College of Holy Cross, Prof. Matheson says “Not so.” This report is available for download from the Box.com widget on the lower right of this web site.
His report concludes with this quote:
“The most important piece of advice that a local government can take regarding mega-events, however, is simply to view with caution any economic impact estimates provided by entities with an incentive to provide inflated benefit figures. While most sports boosters claim that mega-events provide cities with large economic returns, these same boosters present these figures as justification for receiving substantial subsidies for hosting the games. The vast majority of independent academic studies of mega-events show that the benefits to be a fraction of those claimed by event organizers.”