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On the economic impact of international sport events: microevidence from survey data at the EURO 2008

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Using firm-level data for more than 700 Swiss hotels and restaurants, we evaluate the economic impact of the EURO 2008 soccer championship in Switzerland. Although aggregated macrodata do not reveal any sizable economic impact, we report an overall negative effect based on the surveyed companies. Notably the reported effects of the individual firms are very heterogeneous. For instance, hotels in cities benefitted from the tournament as they were able to raise prices and thereby increase sales. Looking at the long-run impact only a small fraction of companies do believe in a positive effect. Interestingly, this outlook does not depend on realized sales, but on the guest structure.
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Keywords: Euro 2008; L83; O18; R11; firm-level data; mega-event

Document Type: Research Article

Affiliations: 1: ETH Zurich, KOF Swiss Economic Institute, Weinbergstrasse 91, Zurich, 8092, Switzerland 2: Swiss National Bank, Zurich, Switzerland 3: European University Institute, Florence, Italy

Publication date: 2014-05-24

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