The intense competition between countries or single cities to host large events is also motivated by the expectation of economic benefits, which are however difficult to identify. The paper examines the short- and long-term effects of the 2000 Rome Jubilee by comparing the dynamics of some economic indicators for the province of Rome with those of comparable provinces not affected by the event.
The Jubilee had slightly positive but transitory effects on the value added per capita: the employment rate increased significantly and persistently. These dynamics/trends were associated with a sectoral shift towards less productive economic activities. House prices increased slightly in the peripheral areas of the city while tourist flows only grew in the year of the event.
Published in 2020 in: Journal of Regional Science, v. 60, 4, pp. 801-822.
