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How much will this event benefit our economy? A checklist for Economic Impact Assessment and application to Milan 2015 International Exhibition

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  • Massiani, Jérôme

Abstract

Policy makers, policy advisers and the general public usually see events as beneficial to the economy of the host city. Such belief is supported by numerous economic impact studies that usually exhibit large positive impacts. However, research has identified potential methodological issues in economic impact studies that may result in misguiding policy recommendations. Yet, no systematic and operational presentation of such potential flaws is available. To fill in this gap, this article proposes a check-list based on 7 criteria and applies them to Milano 2015. This application supports the cognitive value of our proposed checklist and suggests that the claims based on existing studies are highly discussible.

Suggested Citation

  • Massiani, Jérôme, 2015. "How much will this event benefit our economy? A checklist for Economic Impact Assessment and application to Milan 2015 International Exhibition," MPRA Paper 68976, University Library of Munich, Germany, revised Oct 2015.
    • Handle: RePEc:pra:mprapa:68976
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    References listed on IDEAS

    as
    1. Victor Matheson, 2006. "Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies," Working Papers 0610, College of the Holy Cross, Department of Economics.
    2. Robert A. Baade & Robert Baumann & Victor A. Matheson, 2008. "Selling the Game: Estimating the Economic Impact of Professional Sports through Taxable Sales," Southern Economic Journal, Southern Economic Association, vol. 74(3), pages 794-810, January.
    3. Fourie, Johan & Santana-Gallego, María, 2011. "The impact of mega-sport events on tourist arrivals," Tourism Management, Elsevier, vol. 32(6), pages 1364-1370.
    4. Trevor Mules, 1998. "Taxpayer Subsidies for Major Sporting Events," Sport Management Review, Taylor & Francis Journals, vol. 1(1), pages 25-43, January.
    5. Robert Baade & Robert Baumann & Victor Matheson, 2005. "Selling the Big Game: Estimating the Economic Impact of Mega-Events through Taxable Sales," Working Papers 0510, College of the Holy Cross, Department of Economics.
    6. James A Giesecke & John R Madden, 2007. "The Sydney Olympics, seven years on: an ex-post dynamic CGE assessment," Centre of Policy Studies/IMPACT Centre Working Papers g-168, Victoria University, Centre of Policy Studies/IMPACT Centre.
    7. Mules, Trevor, 1998. "Taxpayer Subsidies for Major Sporting Events," Sport Management Review, Elsevier, vol. 1(1), pages 25-43, November.
    8. Darren McHugh, 2006. "A Cost-benefit Analysis Of An Olympic Games," Working Paper 1097, Economics Department, Queen's University.
    9. Peter Abelson, 2011. "Evaluating Major Events and Avoiding the Mercantilist Fallacy," Economic Papers, The Economic Society of Australia, vol. 30(1), pages 48-59, March.
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    Cited by:

    1. Jérôme Massiani, 2020. "Towards Improved Guidelines for Cost–Benefit Analysis of Sport and Cultural Events," Economic Papers, The Economic Society of Australia, vol. 39(3), pages 270-289, September.

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    More about this item

    Keywords

    Input Output Analysis; Check list; economic impact assessment;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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