‘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
02/12/16 Anthony Fauci ’62 Provides Expert Knowledge to Media on the Zika Virus
02/11/16 Holy Cross Breaks Participation Records with ‘Give Purple’ Challenge
02/11/16 Scholarship Related to Transgender Issues to Benefit from First Digital Archive
02/11/16 Photo Gallery: Winter Homecoming 2016 One for the Record Books
See All
See All

Featured Videos

See video
Video: Winter on the Hill Is All About Making Memories

Watch Video >
See video
Video, Photo Gallery: Holy Cross Wishes You a Merry and Peaceful Christmas

Watch Video >
See video
Video: The Splendor of Autumn on Mount St. James

Watch Video >
More

What’s Happening on Campus

02/23/2016

Roger Guenveur Smith Presents 'Rodney King' Odyssey

See More >
02/25/2016

Lecture: Choosing Love: Bearing the Weight of the Other

See More >
02/25/2016

Shark Tank Competition

See More >
03/15/2016

Lecture: Dorothy Day: A Saint for Today

See More >
More

Holy Cross in the News

02/09/16

Alumnus and Wife Named to 50 Most-Generous Philanthropist List for Record-Setting Gift to College

Chronicle of Philanthropy

When you read the Chronicle of Philanthropy’s “Philanthropy 50,” a special issue, which ranks the country’s 50 most-generous philanthropists of the year, you will...

02/04/16

‘What I’m Reading: The Need and the Blessing of Prayer’

The Chronicle of Higher Education

In a piece for the Chronicle of Higher Education, Frank Vellaccio, senior vice president of the College of the Holy Cross, talks about his need for prayer as the College...

02/02/16

Holy Cross Ranks Among Princeton Review’s Top ‘Colleges That Pay You Back’

The College of the Holy Cross is one of the nation’s best colleges for students seeking great academics, outstanding career preparation, and generous financial aid –...