Hosting sports events to attract international tourists is a common policy practised by many host governments. Hosting mega-sports events like the Olympics is 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 is 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 1998 to 2018, 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 Australia and the United Kingdom. ATP Tennis and PGA Golf have a significant impact on at least two countries. Policy-makers must consider carefully the sport that gives the best bang-for-the-buck.
Keyword
Formula 1
;
golf
;
international tourists
;
sports tourism
;
tennis
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
F1, Tennis
;
Golf
;
international tourists
;
sports tourism
