All that glitters is not gold. An economic evaluation of the Turin Winter Olympics

Anna Laura Mancini and Giulio Papini (giulio.papini@bancaditalia.it)
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Giulio Papini: Bank of Italy

No 1355, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper provides an ex-post evaluation of the 2006 Turin Winter Olympic Games by means of a synthetic control approach on a number of potential outcomes for an event of such magnitude. We find a positive impact on tourism and the ratio between prices in the centre and in the outskirts of the city. We also find, however, a positive effect on municipal per capita debt. Other variables that are often advertised as the main beneficiaries of the staging of an event such as the Olympics (value added per capita, employment rate, trade openness and the level of house prices) show no significant improvement.

Keywords: big events; olympic games; synthetic control (search for similar items in EconPapers)
JEL-codes: R11 Z20 (search for similar items in EconPapers)
Date: 2021-11
New Economics Papers: this item is included in nep-cul, nep-spo and nep-ure
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