Major sporting events bring hundreds of thousands of people to the country that hosts them.
Thousands of room nights in properties which might average 60-70% are suddenly overbooked.
And the visitors do not come just during the period of the event.
Hundreds of organizers are there years and months then days before the event begins, each period bringing more and more people.
Employment jumps as venues are built or upgraded and extra people are hired for security, ticket processing, and all the other jobs that help send a bubble through the economy.
That’s why you see cities, regions, and countries bidding for these mega events.
Not only do the tourists visit the venues where the ‘games’ are being held, but leading in or out of the event they want to see the rest of the country.
That is why the governments of all levels pitch in to try to get the nod to host the event.
This is excellent except for one point.
Dozens of cities start the quest. Millions of dollars are spent to do the presentation and travel with teams to meet and influence the judges.
Remember Chicago…the let down when Rio was given the green light for its Olympics. Even Obama travelled to help solidify the pitch.
Millions of dollars down the drain.
This is the hard cold reality of the world, but it is the taxpayers of Chicago who will pay for the failed presentation.
And it is Brazil who will reap the benifits of visitors.
But the losers should not chagrin too much.
Not all of these events are the financial successes they were envisioned to be.
But one way or the other visitors will come. And they will experience a great city and country.
And like the Olympics, the World Cup, and Wimbleton, the media eyes will feast on all these regions have to offer…and we well be excited about visiting there soon.