ECONOMICS OF SPORTS EVENTS: IMPACT OF MAJOR COMPETITIONS ON REGIONAL DEVELOPMENT

The study analyzes the economic impact of major sporting events on regional development. Direct and indirect economic effects are considered, including growth of tourism, infrastructure investments, job creation and increased investment attractiveness of the region. Financial risks associated with high costs of organizing competitions and the possibility of inefficient use of the constructed infrastructure after their completion are assessed. Successful and unsuccessful strategies of regions to maximize economic effect, as well as mechanisms of public-private partnership in the sports industry are analyzed. Recommendations for sustainable use of sports facilities and integration of competitions into long-term strategy of urban development are presented.