Micronomics was asked to quantify the economic impact of the 2013 Academy Awards on Los Angeles County. Based on our analysis, we have concluded that this event produced at least $67 million in immediate, identifiable benefits to Los Angeles County, including $1.5 million from out-of-town visitors, $2 million from limousine rentals, $2 million associated with the wardrobe of local female attendees, $26 million spent by the Academy of Motion Picture Arts and Sciences, $6 million associated with the major Oscar parties, and $30 million in multiplier effects, including $2 million in state tax revenue and $1.7 million in local tax revenue.
The International Cricket Council (ICC) Cricket World Cup 2015 (CWC 2015), the pinnacle of international one day cricket, was jointly hosted by Australia and New Zealand during February and March 2015. This is only the second time these two nations have hosted the event, the last being the ICC Cricket World Cup 1992, 23 years ago. The Tournament’s 49 matches were played over 44 days across 14 host cities. This served as a major catalyst for collaboration between the trans-Tasman neighbours towards a common goal and generating a sense of national pride felt by all attendees. The Tournament was attended by over one million, and watched by over 1.56 billion people worldwide. On 29 March 2015, it culminated in a final between the two host nations at the Melbourne Cricket Ground (MCG) that attracted a record breaking attendance of 93,013.
Abstract “On October 30, 2007, the FIFA Executive Committee appointed Brazil as host of the tournament. With this, the country will be the fifth to host the World Cup twice, after Mexico, Italy, France and Germany. However, the event’s profile has changed significantly since the 1950 World Cup. In 2014, we will have a large-sized tournament that will require extensive preparation processes and complex operations to be implemented. On the one hand, the World Cup will bring impacts and benefits – whether temporary or long-lasting, whether direct or indirect – to different economic and social segments. On the other hand, it also presents several risks, requiring effective management processes in the public and private sectors for the full flow of benefits to society.”
Abstract: “URS Finance and Economics (URS) was commissioned by the Department of Industry, Tourism and Resources (DITR) to undertake an economic impact study of the Rugby World Cup (RWC) 2003. This report and its economic impact modelling results build on the results estimated prior to the RWC in a report prepared by URS and included fine tuning of data and the incorporation of actual RWC specific data collected by a number of Government research and private sector organisations during RWC 2003. The RWC Tournament consisted of a total of 48 matches, including 40 pool matches and eight finals over a six-week period in October to November 2003. Matches were spread across 11 venues in ten cities (Adelaide, Brisbane, Canberra, Gosford, Launceston, Melbourne, Perth, Sydney, Townsville and Wollongong). The Semi Finals and Final were played in Sydney at Telstra Stadium. URS was commissioned to first, estimate the economic impacts of RWC 2003 on the Australian and its State economies and second, to quantify the contribution of Commonwealth Government agencies to the staging of the Tournament. The report outlines the process and the results estimated for the economic impact of RWC 2003. The quantification of the Commonwealth Government agencies contribution to staging the RWC 2003 was provided to DITR via a separate report. The activities associated with RWC 2003 had a number of economic impacts on the Australian economy. Some of these were felt immediately and lasted for only a matter of weeks or months, while others are expected to be felt over the longer term.
Abstract: Since its inception in 1987, the increasing scale and reach of Rugby World Cup has helped attract a globalized audience and provided each Host Nation with significant opportunities to attract international tourism, develop infrastructure, advertise itself to investors from around the world and leave a lasting legacy of growing participation at all levels and across a diverse player spectrum. Rugby World Cup 2015 will attract more
international visitors than any previous Rugby World Cup, with up to 466,000 visits expected across the duration of the Tournament. These visitors bring with them significant incremental spending to the Host economy, from purchasing
tickets to travel costs, accommodation expense, match day entertainment and in visiting other local tourist attractions. In total, international visitors are expected to contribute up to £869 million in direct expenditure.
Abstract: “Abstract: This paper assesses the outcomes of the 2014 Winter Olympic Games in Sochi, Russia, examining the costs and economic impacts of the event, the prospects for the long-term use of venues and infrastructure, and the attitudes of the global and the Russian population. Total costs were USD 55 billion, having increased 4.5 times from USD 12 billion at the time of the bid. Of this total, about USD 16 billion were sports-related costs. After accounting for inflation, this makes Sochi the second-most expensive Olympics ever in terms of sports-related costs and the most expensive Olympics in terms of cost per event. With a public share of 96.5 percent of funding, the Sochi Games had the highest proportion of public money for any Olympic Games on record. The benefit from this high cost, however, is limited. Extensive construction led to hotel overcapacities, investors defaulted on state-backed loans, and there is no coherent plan for the after use of venues and some of the largest infrastructure projects. As a consequence, the Sochi Olympics will continue to be a burden for the Russian state, with expenses
for operation, maintenance, and foregone interest and tax revenue in the order of USD 1.2 billion per year. The event also did not manage to improve the image of Russia in the world. Among the domestic population, support dropped over the seven years of its implementation, most notably among the local population.”
Abstract: “This paper provides an empirical examination of the 2002 Winter Olympic Games in Salt Lake City, Utah. Our analysis of taxable sales in the counties in which Olympic events took place finds that some sectors such as hotels and restaurants prospered while other retailers such as general merchandisers and department stores suffered. Overall the gains in the hospitality industry are lower than the losses experienced by other sectors in the economy. Given the experience of Utah, potential Olympic hosts should exercise caution before proceeding down the slippery slope of bidding for this event.”