‘Were the Billions Brazil Spent on World Cup Stadiums Worth It?’

FiveThirtyEight Economics

July 10th, 2014 by 

In an opinion piece for FiveThirtyEight, Victor Matheson, professor of economics at the College of the Holy Cross, discusses the lasting economic effects of World Cup stadiums. “The overwhelming conclusion of scholarly research on the subject of stadiums and arenas is that they provide little to no long-term economic benefits,” says Matheson. While Brazil originally planned to spend a small amount of their budget on stadiums, the rest going towards infrastructure, “cost overruns at the sports venues increased stadium costs by at least 75 percent over the original estimates.” As a result, less resources and efforts were focused on infrastructure, leaving only half of Brazil’s pledged projects complete.

“At the very least, the country is left with 12 new state-of-the-art soccer stadiums,” offers Matheson. “From a development standpoint, the only thing worse than an expensive, publicly financed stadium is an empty, expensive, publicly financed stadium. So what’s the prognosis for these stadiums’ future use?” Matheson looks at the experience of past World Cup host countries and their stadiums’ usage since 1994, offering statistics of each stadium as well as two generated statistics calculating the stadium use index—“the total number of times during the year the stadium filled to capacity”— and the fan cost index—“the construction cost per fan visiting the stadium four years after the initial event.”

Read the entire article on the FiveThirtyEight website.

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 –...