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The Olympic Games and the Football World Cups are among the most expensive projects in the world. While available theoretical explanations suggest that the revenues of mega-events are overestimated and the costs underestimated, there is no comprehensive empirical study on whether costs exceed revenues. Based on a custom-built database from public sources, this article compares the revenues and costs of the Olympic Games and World Cups between 1964 and 2018 (N = 43), together totalling close to USD 70 billion in revenues and more than USD 120 billion in costs. It finds that costs exceeded revenues in most cases: more than four out of five Olympics and World Cups ran a deficit. The average return-on-investment for an event was negative (– 38%), with mean costs of USD 2.8 billion exceeding mean revenues of USD 1.7 billion per event. The 1976 Summer Olympics in Montréal, the 2014 Winter Olympics in Sochi and the 2002 World Cup in Japan/South Korea recorded the highest absolute deficits. The Summer Olympics 1984 in Los Angeles, the Winter Olympics 2010 in Vancouver and the 2018 World Cup in Russia are among the few events that posted a surplus. The article concludes that the Olympic Games and the Football World Cup suffer from a structural deficit and could not exist without external subsidies. This finding urges a re-evaluation of these events as loss-making ventures that lack financial sustainability. [ABSTRACT FROM AUTHOR]

Although events such as the Olympic Games and World's Fairs are among the largest of mega-projects, there is little systematic data to evaluate their outcomes over a longer period of time and across multiple sites. This research note describes the first longitudinal database on mega-event outcomes. It lays out the rationale and major goals of the database, its methodological approach and content, and its challenges and limitations. The database allows analysing larger patterns of mega-event contexts and outcomes, and helps evaluating mega-events as public policies. [ABSTRACT FROM AUTHOR]

This paper tracks the growth of two of the largest tourist events: the Olympic Games and the Football World Cup, drawing on a dataset containing all events between 1964 and 2018. Overall, the size of the three events has grown about 60-fold over the past 50 years, thirteen times faster than world GDP. We identify an S-shaped growth curve and four different growth periods, with an emergent crisis phase in the late 2010s that may have brought us to 'peak event' – the point at which these events have reached their largest size. Outlining three different scenarios, we argue that the Olympics and the World Cup are at a critical bifurcation point, which also requires new bidding and hosting policies. [ABSTRACT FROM AUTHOR]