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

Bala Ramasamy, Ho-Wei Wu, Matthew Yeung

Research output: Working paper

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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.
Original languageEnglish
Publication statusIn preparation - 1 Jan 2020

Source

China Europe International Business School (CEIBS)

Keywords

  • F1, Tennis
  • Golf
  • international tourists
  • sports tourism

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