Intangible value in preserving the Sports Arenas

Chan Ken See

MPRA Paper from University Library of Munich, Germany

Abstract: The UEFA European Championship (Euro) is among the world's most important sporting events staged nowadays. Apart from tremendous excitement among football fans, such a major event has a number of other implications, above all of economic nature. This is due to the necessity of preparing suitable infrastructural base, increase tourist traffic, potentially greater demand for labour etc. Despite growing interest in the staging of such events, the literature does not provide a straight answer as to the economic grounds for the submission of bids. This study, as one of the few concerned with the Polish circumstances, is intended to determine what significance should be attributed to stage the Euro 2012 in one of Polish host city. The aim of this study is to estimate the willingness-to-pay (WTP) among the community of the Pomeranian region, in connection with intangible benefits and costs stemming from hosting the Euro 2012 in Gdansk. A survey conducted among 407 respondents was the source of information. The results of the study show that the average value of WTPbenefit for the whole sample was 45,72 PLN2012 and WTPcost was 3,86 PLN2012. The aggregate values for the whole region was in terms of benefits and costs 396,6 million PLN2012 and 33,49 million PLN2012 respectively. The results thus confirm the existence of both intangible benefits and costs associated with the event. However, it should be noted that the importance of the net benefits is insignificant and does not compensate for the massive expenditure from public sources.

Keywords: Euro 2012; CVM; WTP (search for similar items in EconPapers)
JEL-codes: H40 (search for similar items in EconPapers)
Date: 2017-09-21
New Economics Papers: this item is included in nep-spo
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