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Hosting Annual International Sporting Events and Tourism: Formula 1, Golf or Tennis (CEIBS Working Paper, No. 013/2020/ECO)

Abstract

Hosting sports events to attract international tourists is a common policy practised by many
host governments. Hosting mega-sports events like the Olympics are said to leave a legacy
that could impact the attractiveness of a country/city in the long term. However, the
opportunity to host these mega-events are limited and expensive. This study considers the
economic impact of hosting annual international sporting events, specifically the extent to
which Formula-1, ATP Tennis, and PGA Golf can attract international tourists. Using
monthly data from 1985 – 2018 and we show that the effect differs from one sport to another
within a country, and the same sport across countries. Hosting the Formula-1 is most
effective for Canada but has no significant impact in the UK. ATP tennis has a significant
impact on all three countries but may not be the star event. Policy-makers must consider
carefully the sport that gives the best bang-for-the-buck.

Keyword

Author Community

[Ramasamy, Bala; Wu, Howei] China Europe International Business School (CEIBS)

[Yeung, Matthew] The Open University of Hong Kong


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Source

Year:2020

Publish Date:2020-05

Language:English

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