Economic impact of sporting events

Abstract

Sports events can act as a catalyst for economic development as has been studied by many experts. In this literature review a brief explanation related to the impact that the sporting events can have in the economy is showed. There is an extended typology of impacts that are so different regarding to ithe area the event is located. However, the two most important groups and their impact in the economy have been described: major and minor events, which are those ones with a less importance in terms of economic impact. Furthermore, there are many methods to calculate the impact and also important errors in the calculations which produce the results could be overestimated. As a conclusion, it has been showed not only the disadvantages of major events but also the advantages of minor events, which can have the same relevance in economic terms as the hallmark events.