Twitter

How the 2017 UCI World Championships in Norway Went Bankrupt

Background: Countries, regions and cities often compete to host popular sporting competitions. Such events traditionally raise the profile of the host city or country, often creating a long-term increase in visibility and tourism. The Beijing Olympics – estimated to have been viewed by 4.7 billion people – helped spark a major tourism boom in China. At the same time, major sporting events can also change the international perception or reputation of the host country. China softened its hardline communist international image with its Olympics, and South Africa heralded its post-apartheid arrival when it hosted (and won) the 1995 Rugby World Cup. In addition, sporting events can spur major investment programs in public infrastructure and transportation systems which can benefit the region long after the event is over. In turn, this can create hundreds or thousands of local jobs, boosting...