Study on the Economic and Social Impacts of Using Mega-events for Urban Regeneration

Abstract

The article focuses on the significant economic and social impacts that large-scale events such as the Olympic Games have on the host city. They involve large financial investments, affect millions of people and can strategically transform cities. While these events often improve physical infrastructure, they can also exacerbate inequality and displacement. Disadvantaged communities are often forced to relocate to make way for urban redevelopment projects associated with large-scale activities. Employment and income inequalities may also emerge, with employment opportunities benefiting mainly the middle and upper classes. Legacies such as infrastructure improvements are often unevenly distributed, further marginalising low-income groups. They may also lead to suburbanisation and higher costs of living, resulting in the displacement of residents and the exclusion of disadvantaged groups. In addition, mega-events can place a huge financial burden on taxpayers and are prone to corruption. In short, the neoliberal framework behind mega-events can contribute to the economic, social and geographical polarisation of urban areas.