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  1. 1. Chapters 2 & 12 Regina Salice
  2. 2. Chapter 2 • World Cup Competitions/ Olympic Games – Help cities globalize • 2012 Summer Olympics will be held in London
  3. 3. Four Categories of Trade • Trade Fairs & Exhibition Events • Cultural Events • Sports Events • Political Summits & Conference Events
  4. 4. Benefits Primary • Private & public investment partnerships • Environmental improvements both in the built and natural environments Secondary • Connectivity & infrastructure legacies • Wider property market benefits
  5. 5. Positive Impacts From the Sports Event • In general, what are termed “bigger” events have greater impact than their “smaller” counterparts, but not always; some niche events can have very specific but far-reaching impacts • Not all events carry the same cost implications or risk factors, which would affect the relative importance of their wider impact
  6. 6. Positive Benefits of Hosting Global Events • Pick the right event • Be bold • Get the leadership right • Bid well with ingenuity • Have a plan B • Accelerate existing plans & priorities • Integrate efforts • Make the legacy & benefits come first • Manage the legacy as a separate project • Make a habit of being a host
  7. 7. Chapter 12 • “Many studies made by economist indicate taxpayers may not be getting such a great deal after all in the construction of stadiums” • Professional sports team play in facilities heavily subsidized by local governments • Cities generally use revenue bonds to finance their share of the cost of the stadium • Some stadiums rent out parking, concessions and luxury boxes • Rental payments can be set to cover all the costs associated with construction and operating municipal stadium • “NFL Baltimore Raven pay no rent while MLB’s Chicago White Sox pay $1 a year for the use of New Comiskey Park
  8. 8. Cost & Benefits 4 Categories • Direct Benefits • Indirect Benefits • Construction Coast • Operation Expenses • Re-sending process- indirect benefit
  9. 9. No Matter the Method • Subsides to sports teams seems to be much greater than the economic benefits generated to the cities - “out-of-town” new fans/ new spenders
  10. 10. Closing • “Sports are popular and once the quality- of-life benefits are included in the calculus, public spending on new stadiums may be a good investment for central cities and their residents”