Rating benefits of large-scale projects for host region economy and image

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Teoriya i praktika fizicheskoy kultury №6 2017, pp.75-77

Dr.Sc.Econ., Professor Y.V. Vertakova1
PhD, Associate Professor M.G. Klevtsova1
Dr.Sc.Econ., Professor V.A. Plotnikov2
1Southwest State University, Kursk
2St. Petersburg State University of Economics, St. Petersburg

The study analyses benefits of large-scale sport projects for the regional economy, including the sport market profit distribution under the sponsorship projects, proceeds from broadcasting and merchandising rights etc. A variety of qualitative and quantitative criteria were applied to rate benefits of a few Winter Olympics. The study data and analyses demonstrated that the large-scale sport events may be among the key instruments to build up image of the host region and stimulate its socio-economic development. A special emphasis is made on the positive effects of Olympic Games on the host region economic and social development and environmental protection aspects. The study data were used to assess the relevant effects on the image of the Krasnodar Territory, with the image being presented in the form of an economic benefit metering mathematical model. The study gives an integral estimate of the region’s image versus the scope of the sport event. A multifactor econometric model was used to analyze the correlation of the host region’s economic benefits from the large-scale sport events. A set of specific indicators was offered to rate the economic benefits of sport projects and their qualitative effects on the image of the Krasnodar Territory.

Keywords: sport project, region’s image, socio-economic development, international sport events, sport industry.

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