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

Author

Listed:
  • Anna Laura Mancini

    (Bank of Italy)

  • Giulio Papini

    (Bank of Italy)

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.

Suggested Citation

  • Anna Laura Mancini & Giulio Papini, 2021. "All that glitters is not gold. An economic evaluation of the Turin Winter Olympics," Temi di discussione (Economic working papers) 1355, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:wptemi:td_1355_21
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    References listed on IDEAS

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    More about this item

    Keywords

    big events; olympic games; synthetic control;
    All these keywords.

    JEL classification:

    • Z20 - Other Special Topics - - Sports Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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