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Local Development Benefits from Staging Global Events

image of Local Development Benefits from Staging Global Events

The competition to stage major global events – such as OIympic Games, EXPOs, cultural festivals, and political summits – is more intense than ever before. Despite advances in virtual communication, large-scale gatherings of this kind have again become extraordinarily popular. In part, this can be explained by the worldwide media attention and sponsorship that such events now generate. But it is also substantially accounted for by the longer-term local benefits that can be achieved for the host location, including: improved infrastructure, increased revenues from tourism and trade, employment creation and heightened civic pride. However, such positive effects do not occur by accident, or without effective local action. Effective legacy planning and management is essential to ensure that the financial risk of investing in the event pays off, and that local development is boosted in a meaningful way.

 

Put simply, when international events are hosted well, they become a catalyst for local development and global reach. This book identifies how international events work as a trigger for local development and what hosting cities and nations can do to ensure that positive local development is realised. It reviews experience from more than 30 cities and nations and it looks forward to future events yet to be hosted.

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Bidding to Host a Global Event but Not Winning?

There is no doubt that the competition from cities around the world to host major world events, be they trade-related, cultural, sporting or political, is more intense today as ever. Arguably, the competition is actually even greater in the 21st century as cities in developing countries, previously without the resources or capacity to take on the responsibility of hosting a global event, are increasingly successfully bidding for events. At the same time, some of the oldest venues around the world (London, Shanghai, Madrid) continue to energetically seek the right to host events.

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