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John John: Debunking the Myth of an Economic Legacy from the Games: Lessons from ‘Circus Maximus’ [BOOK REVIEW] | RioOnWatch

9.8.16

Debunking the Myth of an Economic Legacy from the Games: Lessons from ‘Circus Maximus’ [BOOK REVIEW] | RioOnWatch:

In short, the Rio2016 Committee stated in 2009, studies showed the Games “will bring significant benefits not only for the city’’s economy, but also for the state and country.” In Circus Maximus, economics professor Andrew Zimbalist dissects the assumptions and (mis)calculations that sustain the myth that mega-events guarantee economic benefits for the host city or country. He shows how consulting firms employed by host cities and countries often arrive at “vastly inflated and unrealistic estimate(s)” that make for excellent World Cup and Olympics marketing, while independent academic studies find an absence of conclusive evidence that mega-events bring positive economic impacts.


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Dispatch: Aboriginal Press Media Group  |   Permalink  |   [9.8.16]  |   0 comments

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