World Fencing Championships in Milan, a Winning Lunge for the EconomyBOCCONI'S GREEN RESEARCH CENTER ESTIMATES THE EVENT CAN GENERATE 11M EUROS IN ADDED VALUE AND MORE THAN 200 ADDITIONAL JOBS
Research by Bocconi University's GREEN Center, led by Marco Percoco, has estimated a major economic spin-off for the World Fencing Championships, which will be held in July this year in Milan. Against an expected expenditure of about €5.6m for the organization alone, the expected economic impacts can be put at €24m of additional production, €11m of added value generated and as many as 201 jobs created.
The research, carried out with the support of the Romeo and Enrica Invernizzi Foundation, is being presented today at the seat of the Lombardy Region with the highest authorities of the Region and Coni attending.
The effects of a major sporting event on the economy of the area in which it takes place is a topic of paramount relevance, especially given the now crucial need to ensure the economic and environmental sustainability of major events. A scientifically sound analysis of these effects is therefore increasingly necessary.
In addition to the economic effects, the study clarifies, there will also be social ones arising from the many large and small side events that will run alongside the main event, involving some 3,500 young people in 12 oratories and 30 schools, as well as those organized in 6 universities.
“Sports and cultural events often have welcome effects on local economies, and this result is not surprising for an area like Milan,” Marco Percoco commented. “The real challenge will be to integrate the World Championships into a broader vision of urban development so that these effects become permanent.”
by Andrea Costa