At the heart of the dynamic increase in cities and nations competing to host events lie major questions
and challenges. Will the costs of bidding for or hosting an event ultimately be justified by the advantages and benefits that the chosen city accrues from doing so? Will the profit-and-loss account of the event be black or red? Can the likely outcome, whether net positive or net negative, be known in advance? And, perhaps most crucial, can the bidding city do anything meaningful to increase its benefits or reduce its costs?
Many cities are keen to consider hosting such events but have no direct experience. Because such events are fought over with renewed vigour, it is timely to re-examine the key challenges involved in deciding whether to bid, how to bid, which events to bid for, and how to make the most of such events.
Source : Urban Land Institute (ULI)