Holy Cross Sports Economists Available to Comment on Economic Impact of the Olympics

WORCESTER, Mass. – Vancouver is not likely to profit from hosting the Olympics, despite the large crowds expected to descend upon its hotels, restaurants and shops, according to sports economists Robert Baumann and Victor Matheson.  “If a city is expecting a financial windfall for hosting the Olympics, past experience suggests that the host will be in for a rude awakening,” they say.

Their research, which examined the economic impact of the Salt Lake City Games, shows that the event fails to generate significant profits, despite promises of a payout in the billions of dollars made by the International Olympic Committee and other event boosters.

Baumann and Matheson, both associate professors of economics at the College of the Holy Cross, have expertise in sports economics and the impact of mega-sporting events on host cities. During Chicago’s bid for the 2016 Olympics last fall, their work was referenced widely.

For additional information, see their paper, “Slippery Slope? Assessing the Economic Impact of the 2002 Winter Olympic Games in Salt Lake City, Utah.”

Members of the media seeking additional information or assistance scheduling an interview should contact Kristine Maloney (director of national communications and media relations) or Cristal Steuer (manager of communications and media relations) at 508-793-2419.