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Is hosting the Olympics worth it?

Dr Georgios Kavetsos

Reader in Behavioural Economics

Is hosting the Olympics worth it?

The Olympic Games, while globally celebrated, often bring into question the true economic benefits of hosting such grand events. Our latest research insights brief measures the intangible impact of the London 2012 Olympics using subjective well-being data to assess whether they justify the substantial costs involved. This brief aims to provide a comprehensive understanding of the short-lived happiness boost experienced by host city residents and its implications for future hosting decisions.

Who should read this brief?

This brief is aimed at a broad audience, including:

  • Members of the public, particularly residents of host cities like Paris for the upcoming 2024 Games, and those from previous or potential future host cities.
  • Policymakers involved in making decisions about bidding and hosting major sports events, ensuring that taxpayer money is used effectively.
  • Stakeholders in sports events, including members of the International Olympic Committee (IOC), FIFA and international organisations such as the Organisation for Economic Co-operation and Development (OECD), who have a vested interest in using measures of subjective wellbeing to evaluate policy interventions.

 

Is hosting the Olympics worth it?

Download here
“Given the temporary nature of the boost to subjective wellbeing we found in London 2012, it raises the question: is hosting major sports events such as the Olympics the best use of public money? Perhaps these scarce resources would be better spent on interventions with a more lasting effect on other sources of wellbeing, for example, in the areas of health, education or improved transport to reduce commuting times.”
— Dr Georgios Kavetsos

About the researchers

Dr Georgios Kavetsos

Georgios Kavetsos has a PhD in Economics from Imperial College Business School, specialising in behavioural science. With a keen focus on subjective wellbeing, his research delves into the impact preferences and policy interventions have on welfare.

 

Be the next author

Are you an academic at the School of Business and Management and want to share your research insights in a brief? Email Dr Elena Doldor, Research Impact & Engagement Director, at e.r.doldor@qmul.ac.uk.

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