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business1d ago
Local leaders love mega-events. Should they keep chasing them?
- New evidence shows mega-events rarely deliver large, sustained local gains compared with public costs and risks.
- Experts say net benefits are often narrow and time-bound, focused on hotels and transport rather than broad employment boosts.
- Costs and revenues frequently fall on different entities, complicating the financial picture for hosts.
- Independent, comparable evaluations are recommended to avoid sponsor-led bias in assessments.
- Historical examples show divergent outcomes: Philadelphia’s 1876 expo differed from its 1976 celebration.
- Leaders should foreground local life to prevent visitors from becoming mere background noise.
- Cities are urged to align mega-events with regional goals and address resident needs.
- The article highlights the importance of transparent cost-benefit analysis for all stakeholders.
- Major events require inclusive planning that considers longtime residents and affordability.
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