So, You Wanna Host The Superbowl, Eh?
I've always been interested in the effect of big sporting events have on local economies. One of the reasons is that I'm not entirely sold that it has the positive effect that is mostly spun to the public by local politicians and large sporting organizations (e.g.- NFL, IOC).
Recently, out favorite economic journalists at NPR's Planet Money spoke with a Sports Economist regarding the Super Bowl's effect on Indy's local economy:
[Victor Matheson] argues hosting the Super Bowl pushes out the economic activities that occur on normal, non-Super Bowl hosting weekends. No conventions are held. Museums are closed. Local residents do not come downtown simply because it's too crowded.We luuuuuvvvzzz sports and we luuuuuuuuuuvvvzzzz economics -- when combined, they produce unstoppable powers. And, if you listen closely to said podcast, you'll hear about such awesome powers in terms such as "multiplier," "equity," "efficiency," and the implication of substitute goods. See? Unstoppable.
(I just had an econgasm, but I digress)
Good job, Planet Money crew!
P.S.-If any of our readers are from Atlanta and are familiar with the economic effects of the '96 Olympics, please do leave a comment!