‘Sporting cold feet’

Canadian Broadcast Corporation News

June 25th, 2014 by 

With the FIFA World Cup at the center of attention around the world, Victor Matheson, professor of economics at the College of the Holy Cross, offers major Canadian news station, CBC News, insight into the economic effects of the tournament.  Although the cities and countries hosting these major sporting events often take them on in hopes of reaping the benefits, “the economic benefit is typically zero,” says Matheson. As the events become more and more expensive—the past winter Olympics in Sochi costing $51 billion and the World Cup in Brazil costing $13 billion—the potentially modest gain is “not enough to justify the price tag.”

Some cities and countries have managed positive economic outcomes from these events, like Los Angeles who hosted one of the most economically successful Olympics in 1984, or Barcelona whose tourism greatly increased after their Olympics in 1992. “If you’ve got a city that’s a hidden gem and you spend a bunch of money advertising yourself and then you offer something the world doesn’t know about, it can work,” Matheson explains. However, with the new exorbitant price tag, interest in hosting these events tends to come from places with affluent governments where the threat of local opposition does not exist. Matheson asserts that  “once you see people voting with their dollars, maybe the IOC and FIFA have some real incentive to reform the bidding process.”

Watch the full video on CBC’s Lang & O’Leary Exchange.

Media Coverage:

This is a “Holy Cross in the News” item by Evangelia Stefanakos.

For additional information, please contact Cristal Steuer at 508-793-2419.

| More

Comments are closed.

Sort By:
or
03/27/15 Holy Cross Announces Holy Week and Easter Services
03/27/15 Women’s Lacrosse To Hold Think Pink Game On March 28
03/27/15 PayScale Ranks Holy Cross No.6 Among Best Liberal Arts Colleges for Best ROI
03/26/15 ‘Renovated Fitchburg Art Museum vows visitors will be impressed’
See All
See All

Featured Videos

See video
Holy Cross Launches Groundbreaking Web Resource for Exploring Catholic Practice Around the World

Watch Video >
See video
Video, Photo Gallery: Christmastime at Holy Cross is a Sight to See

Watch Video >
See video
Video: What is CreateLab?

Watch Video >
More

What’s Happening on Campus

04/08/2015

Vannicelli Lecture by Jacob Medina '16

See More >
04/10/2015

A Seussebration: Hats Off to 111 Years of Dr. Seuss

See More >
04/15/2015

Lunch & Learn: LGBTQ Safe Zone

See More >
04/17/2015

'Libertad' performed by The College Choir and Chamber Singers

See More >
More

Holy Cross in the News

03/19/15

‘The 50 Best Private Colleges for Earning Your Degree On Time’

Money

According to Money, a subsidiary of TIME.com, the College of the Holy Cross ranks No. 12 in the top 50 best private colleges for earning your degree on time and No. 101 for...

03/04/15

‘At Notre Dame, a door closes, but many more are opening across Catholic higher ed’

Wall Street Journal | The Conversation

Joanne Pierce, professor of religious studies at College of the Holy Cross and a University of Notre Dame alumna, reflects on the legacy of Rev. Theodore Hesburgh, president...

02/18/15

‘Exploring an Institution’s Roots: Board Members Walk in a Saint’s Footsteps’

Trusteeship Magazine

In the January/February issue of Trusteeship Magazine, Rev. Philip L. Boroughs, S.J., president of the College of the Holy Cross, reflects on the pilgrimage he led with a...