Die Reihe bietet ein Forum für empirische Studien zur ökonomischen Wirkungsanalyse von Großveranstaltungen in Sport, Kultur und Tourismus. Die Bände beleuchten gleichermaßen die Effekte der Großereignisse auf ihr sozioökonomisches Umfeld als auch den Einfluss von Standortfaktoren auf die Wettbewerbsfähigkeit und Governance der Eventwirtschaft. Die Themenfelder umfassen alle Stakeholder von Events und reichen von Primärerhebungen zum Reise-und Konsumverhalten von Eventbesuchern sowie zu Werbe-und Imagewirkungen von Großveranstaltungen über den gesellschaftlichen Beitrag von Events, etwa zum Volunteering, bis zu Analysen der Eventinfrastruktur wie Stadien-und Ligenmärkte oder Finanzierungsquellen. Die Schriftenreihe richtet sich an Lehrende und Studierende der Wirtschafts-, Sport-oder Tourismuswissenschaft sowie an Praktiker und öffentliche Entscheidungsträger in eventbezogenen Handlungsfeldern.
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Expected large cost overruns of Olympic Games have recently led to negative referendums. We will analyze the costs and revenues of the Olympic Games and how they change from the first budget estimation promise made to the taxpayer to the end of the Games. To accomplish this, we separate revenues and expenditures of Organizing Committees of the Olympic Games (OCOG) from capital investments for Olympics-specific infrastructure (e.g., Olympic Stadiums, Villages) from Sydney 2000 to Tokyo 2020. Irrespective of inflation in all Games, costs for Olympics-specific infrastructure overrun moderately. Expenditure overruns of the OCOG are usually compensated by increased revenues and have even ended in small profits. This paper shows the most complete set of cost, revenues and expenditure sources to calculate budget overruns while differentiating the OCOG from the non-OCOG budgets. Further, we distinguish between false budget estimations and cost overruns, then we end with a theory-led discussion of reasons for overruns, and give management recommendations.
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Literature Review 2 Literature Review 2.1 Cost Overruns in General 2.1 Cost Overruns in General 2.1.1 What are Cost Overruns? In any investment or other economic project that is going to last over several years between its inception date t-n and its delivery date t on time, the effectively achieved (ex-post) cost in t may happen to be higher than the announced (ex-ante) cost in t-n. The longer n is, the higher the risk that such a difference will emerge. This is clearly shown in our literature review in which we listed many reasons for that. The definition of cost overruns COV is thus: COV = C t-C t-n > 0 where C t-n stands for the ex-ante announced cost and C t for the achieved ex-post cost measured in the same year's price index. We have compiled all our data by using the respective GDP deflator. Thus we discounted C t-n at a rate equal to the cumulative inflation rate between t-n and t. We explain that in our methodology section .
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