The sports industry occupies an important position in China's national economy, and the sports event industry is its core industry, and its role in regional economic development has received more and more attention from all parties. This paper takes Sichuan Province as an example to discuss the role of sports events in regional development. Firstly, it is a theoretical overview. This paper explores the mechanism of its economic effect from four perspectives: economic growth, industrial structure, regional agglomeration and city brand. Second is the case study. Through the grey correlation analysis of the relationship between sports and tourism industry, using the exponential smoothing method and ARMA method, and establishing a multi-indicator model, it is concluded that sports and tourism industry have the highest correlation and play a positive role in promoting regional development.